April was the second month of legal online casino gaming in Rhode Island and the first full month of Bally’s RI iGaming operations, as the online casino market launched on March 5.

Key takeaways

• April Rhode Island online casino revenue showed a 71.94% monthly increase from March’s $1.21 million, which reflected 27 days of operation.
• Bally Casino is the sole online casino operator in the Ocean State. The company also runs two land-based casinos in Rhode Island – Bally’s Twin River Lincoln and Bally’s Tiverton – which also reported record revenues.
• Rhode Island is the seventh legal US online casino state, joining New Jersey, Michigan, Pennsylvania, Connecticut, West Virginia and Delaware.

Rhode Island iGaming revenue hits $2 million in April

The Rhode Island Lottery’s April 2024 iGaming report revealed that Bally’s (NYSE: BALY) online casino made significant progress compared to the previous month. More precisely, total iGaming revenue from online slots and table games went from $1.2 million in March to over $2.08 million in April.

Here’s a bigger scope:

• Online slot revenue: $1.34 million (64% of the revenue generated)
• Online table game revenue: $740,579 (36% of the revenue made)
• Total iGaming revenue: $2.08 million

While revenue from online slots increased almost 38.0% monthly, revenue from table games rose over 210.0% from March.

And while April was unquestionably more successful than March, it is important to note that March’s numbers reflected 27 days of gaming instead of 31 days.

Here’s how Rhode Island’s April numbers compare to other US legal states

April is usually a slower month for the gambling industry. It also comes after March, one of the busiest months during which online casinos and retail locations can set record revenue numbers.

However, the strongest drops in online casino revenue usually come when summer begins.

While revenue decreased monthly, April was still a good month for all legal online casinos in the US.

Here’s a look at seven US online casino states and their April revenue performance:

1. Pennsylvania: 21 operators won $212,212,615 (9.0% behind the state’s gaming revenue record in March of $233 million)
2. Michigan: 15 licensed operators made $192,933,491 in revenue (the second highest revenue in the state history, down 10% month-over-month)
3. New Jersey: 31 operators generated $187,879,067 (nearly 4.70% decrease from $197.1 million in wins during record-breaking March)
4. Connecticut: FanDuel and DraftKings made $42,584,721 in April (around 3.20% monthly drop)
5. West Virginia: nine online casinos made $17,797,826 in revenue (nearly 11.0% behind the $20.7 million hit in March)
6. Delaware: three operators generated $4,438,542 (down 4.40% from the record $4.63 million set in March)
7. Rhode Island: $2,081,358

US online casinos across all seven legal markets earned $658.83 million in April. Pennsylvania led the way with 32% of the market share.

As the newest market with the smallest population, Rhode Island comes last. Its online gambling market is still evolving and will need time to mature.