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The Missouri Gaming Commission reported that even though MO sports betting remained active in January, adjusted gross receipts stayed negative for a second straight month, despite posting 16 million more bets than December. Missouri bettors placed 41 million bets last month compared to the 25 million in December.
However, compared to a negative AGR of nearly $21 million in December — largely attributable to more than $125 million in promotional free play offerings — January’s totals only put the Missouri operators collectively about $6.7 million in the red, with more than $33 million in free play to blame.
The breakdown
Total wagers amounted to $385,138,867.63, with $330,636,754.33 paid out in winnings and $912,967.69 paid out in federal tax.
Mobile operators reported the following gross and adjusted MO gaming revenue figures, rounded to the nearest hundred thousand (or ten thousand, as applicable):
- Bet365 Sportsbook: $34 million gross gaming revenue (GGR), -$1.25 million adjusted gross revenue (AGR)
- BetMGM Sportsbook: $33 million GGR, $115,000 AGR
- Caesars Sportsbook: $14.1 million GGR, $601,000 AGR
- Circa Sportsbook: $1.5 million GGR, $93,000 AGR
- DraftKings Sportsbook: $144.4 million GGR, $13.2 million AGR
- Fanatics Sportsbook: $21 million GGR, -$121,000 AGR
- FanDuel Sportsbook: $125.7 million GGR, $6.2 million AGR
- theScore Bet Sportsbook: $6.7 million GGR, $145,000 AGR
While DraftKings and FanDuel saw their GGR drop from prior months, less outlay in free play meant that both operators ended up with AGRs in the black. Only Bet365 and Fanatics ended up with negative AGRs for January, though considerable negative AGRs from the prior month applied to January’s totals, from DraftKings and FanDuel in particular, contributed to the overall negative number.
Encouraging signs from down month
Still, operators appear at least publicly encouraged by the activity. Legal Sports Report noted that Peter Jackson, CEO of FanDuel’s parent company Flutter, expressed optimism about its early push into the Show Me State, boasting “Missouri’s launch was among the company’s best ever in terms of market penetration, reaching 5% of the population within 30 days.”
Jackson said:
“Missouri … is a really good example of when you’ve given customers or consumers the choice, the breadth of offering you have in traditional OSB, together with the generosity playbook you can provide means it’s a much more compelling offer.”
Among retail operators, Century Casino in Cape Girardeau led with a little more than $985 in gross gaming revenue.
