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March Madness was good to Missouri sportsbooks.
The Missouri Gaming Commission’s March report shows a second straight month of adjusted gaming revenue (AGR) in the black, following a ramp-up period in which free promotional play cut into sportsbook revenues.
In March, AGR was close to $20.8 million, more than double February’s total. Total handle exceeded $329 million.
Most Missouri sportsbooks recorded their best-ever monthly total to date.
Mobile led the way
Mobile operators reported the following gross and adjusted MO gambling revenue figures:
- Bet365 Sportsbook: $27.2 million gross gaming revenue, $807,000 adjusted gross revenue
- BetMGM Sportsbook: $23.85 million, $2.04 million
- Caesars Sportsbook: $12.6 million, $825,000
- Circa Sportsbook: $1.89 million, $128,000
- DraftKings Sportsbook: $118.6 million, $9.8 million
- Fanatics Sportsbook: $26.47 million, -$953,000
- FanDuel Sportsbook: $107.4 million, $7.4 million
- theScore Bet Sportsbook: $6.1 million, $310,000
Adding in retail numbers, the prosperous month produced the highest monthly tax revenue to date, $2.18 million, to bring the fiscal year total to nearly $4 million.
On the retail front, Hollywood Casino again led the way, bringing in more than $1.5 million in handle, and leading all retail locations in AGR with more than $146,300.
Missouri teams drove interest
As KOMU-TV reported, MGC Chair Jan Zimmerman said having two Missouri teams in action likely propelled interest from bettors statewide.
“I definitely think it will have a positive impact on seeing folks who sport wager. They get the opportunity to actually attend those games.”
Saint Louis University fell to eventual champions Michigan in the second round after getting past Georgia, while Missouri lost to Miami in the first round.
Zimmerman said continued promotions will negatively impact revenue in the short term. Trendlines from the past two months, however, are beginning to reveal how state coffers will benefit from legalized sports wagering.
