Connecticut's Online Gambling Revenue Decreases in June

Connecticut's Online Gambling Revenues Decrease in June

Connecticut's online casino market, which launched in October 2021, has seen consistent growth since its inception. however, the announcement of the online casino games tax revenue for June 2024 remains unclear, typically originating from state or official gambling regulatory bodies.

The Connecticut Department of Consumer Protection reported a total gross online casino gaming revenue of $33.7 million for June 2024, a slight decrease compared to May. This revenue, after deducting promotions, stands at $33.7 million.

Two online casinos operate in Connecticut: DraftKings and Mohegan Sun, operated by FanDuel. DraftKings contributed $3.135 million, while FanDuel, through Mohegan Sun, contributed $2.9 million to the June 2024 revenue.

DraftKings reported a total gross gaming revenue of $17.4 million in June 2024, with promotional spend amounting to $4.1 million. On the other hand, FanDuel, operated by Mohegan Sun, had a total gross gaming revenue of $16.1 million in June 2024, with promotional spend of $4.4 million.

Notably, both DraftKings and Mohegan Sun have consistently exceeded $1 billion in wagers for ten consecutive months. This indicates a strong commitment from players in Connecticut, who can access a wide variety of slots, table games, and live dealer games through these online casinos.

The slight dip in revenue for June 2024 may be attributed to summer, a time when bettors often drift away from gambling. However, the online casino market in Connecticut has shown a 34% increase compared to June 2023 ($25.4 million).

The Connecticut online casino market has proven to be a significant contributor to the state's revenue, with 18% of the online casino gaming revenue for June 2024 going back to the state. The market's continued growth and consistency suggest a promising future for online gambling in Connecticut.