Rhode Island’s online gaming market generated $2.3 million in net gaming revenue in June, an $80,000 increase from May, according to data from the Rhode Island Lottery. The revenue increase marks the third consecutive month of growth for the state’s iGaming sector, which launched in March.
Revenue from online slots has been particularly high, showcasing consistent month-over-month growth. In June, slots revenue increased by 8.05% from May, reaching $1.76 million. This follows previous growth rates of 21.44% from April to May and 37.95% from March to April. Overall, since the launch of iGaming in Rhode Island, online slots have accumulated $5.7 million in revenue.
Conversely, table games have experienced a decline in revenue over the past two months. In May, table games revenue decreased by 15.27% compared to April, and this downward trend continued into June with an additional 8.22% drop. Despite a strong start in March and April, the total revenue from table games has been $2.18 million since the inception of the online gaming platform.
The total iGaming revenue for Rhode Island has shown a steady increase each month, though the rate of growth has recently slowed. From March to April, the overall revenue grew by 71.94%, reaching over $2 million. In May, the growth rate was 8.38%, and in June, it tapered to 3.52%, culminating in $2.34 million. Since March, the state’s total iGaming revenue has amounted to $7.88 million.
The continued growth of Rhode Island’s iGaming market, primarily driven by online slots, is a positive sign. However, the recent slowdown in the growth rate and the decline in table games revenue may indicate that the market is approaching a plateau.
Typically, new online casino markets experience rapid initial growth, which eventually stabilizes. The slight deceleration observed in June might be a sign that Rhode Island’s iGaming sector is nearing maturity, especially as summer months are generally slower for online gaming activity.
Bally’s operates the state’s online casino along with Rhode Island’s two land-based casinos. Given the state’s population of just under 1.1 million, market saturation could occur relatively quickly.