The April online casino revenue numbers are starting to roll in, and it’s pretty clear that this industry is growing in a big way. The three states with the biggest iGaming markets are Michigan, New Jersey, and Pennsylvania, and all three states continue to set revenue records.
All three of these states saw their year-over-year revenue jump by more than double-digits, and that could lead to even bigger numbers throughout the rest of the year. Retail casino gaming has started to slow in each state, but it’s clear that bettors continue to log in to play online.
Pennsylvania Sees Massive Games
The total gaming revenue in Pennsylvania went up just five percent in the last 12 months, but the increase was much larger at the online casinos in the state. Total online casino revenue for the state was $173.4 million last month, and that was a jump of 26.4% from the April 2023 total.
The online slots in the state continue to be the most popular way to play at the online casino, and those games were also extremely profitable. The total revenue for these games was $126 million, and that is where a large majority of the boost came from.
It looks as if Pennsylvania could be on track to become the largest iGaming industry in the country in 2024, at least it is on that pace through the first four months. Online sports betting was another industry that saw some big gains over the last year as that revenue was up nearly 13%.
Michigan Making Moves
Michigan posted the highest gross gaming revenue from online casinos in 2023, and those properties remain popular this year as well. The adjusted gross receipts from iGaming in the month of April was $174.2 million, and that was an increase of more than 10% from a year ago.
The total online revenue actually saw a pretty significant drop when compared to the month of March, but there was a big reason for that. Online sportsbooks were busy that month because the 2024 NCAA Tournament was taking place.
Michigan set a new state record of iGaming in 2023, and everything is lining up for an even bigger 2024.
Other States Want In
Since the online casino revenue numbers never seem to be slowing down, other states are trying to get into the market. Illinois and New York are two of the states that continue to come up short on getting a law passed, but those would be some massive markets.
Gaming regulators in the state of Massachusetts are currently studying online gaming, and there are hopes that a potential law is coming. Lawmakers in the state have given the gaming commission the opportunity to accept bids from companies that will conduct this research.
The main focus of this study will be on the impacts of online casino gaming on state revenue. Some lawmakers are also concerned about the potential for AI to get into the space and create some issues.
