Women are getting into sports betting at a record rate. That’s one of the stories we’ve been tracking this week but we’ve got a couple of other key headlines to cover before we get to that bit of news.
Nevada Gaming Revenue Breaks $1 Billion For 13th Straight Month
It’s safe to say that the casinos in the state of Nevada are on a roll. The COVID-19 pandemic was a trying time for Sin City and the surrounding areas, but we’re clearly far beyond it now – at least in terms of gambling revenue. It has just been reported by the Nevada Gaming Control board that casinos in the state brought in a total of $1.355 billion throughout the month of March. In comparison to one year ago, this is a 27 percent increase from the totals they got in March of 2021.
This is seemingly becoming a monthly occurrence as this now makes it the 13th straight month of at least $1 billion in total revenue. Their total from March was also the second most amount of money that they have ever brought in for a single month.
When it comes to sports betting in Nevada, they were able to bring in $863 million worth of wagers. Compared to March of 2021, this is a 35 percent increase in terms of the handle. This was the second straight month that the sports betting handle missed the $1 billion mark, though. The NFL is king and we’re in the offseason right now, so that’s a factor. However, during the months of October through January, the state did surpass the $1 billion mark. At some point, they should be able to bounce back up to those previous numbers but overall, the state has to be fairly pleased with the overall gains.
Greektown Casino Detroit Getting Renovations
Gamblers in the state of Detroit have something to look forward to in the near future. Penn National Gaming (NASDAQ: PENN) has just announced that the Greektown Hotel-Casino is going to get a new makeover. On top of that, the property will be officially renamed Hollywood Casino at Greektown when the renovations finish up.
As it stands right now, the cost of this fixup is estimated to be roughly $30 million and will focus on the hotel and gaming floor. This casino first opened all the way back in November of the year 2000, so it’s more than time to give it a refresh.
It is expected that these renovations can shed new attention on the property. Numbers from the month of March suggested that Greektown only had 21 percent of the casino gambling market in Detroit. MGM Grand Detroit holds 46 percent market share and MotorCity Casino holds 33 percent. The latter two casinos are generally viewed as better places to play, so the hope for Greektown is that this renovation starts to bring back more customers.
Study Shows That Women Downloaded Sportsbook Apps More Than Men
To the surprise of many, a new study that just concluded found out that more women download sportsbook apps than men. That’s surprising as it’s generally understood that women play casinos more than men but sportsbooks? This was a new discovery.
The survey conducted by Global Wireless Solutions showed that 4.6 million female users made an account on sportsbook apps in the 2021 year. This is actually a massive 115 percent growth compared to the total in 2020. However, there are still approximately 250 percent more male users than female users today. Females have just been signing up at a greater rate than men as of late.
Among those female users that were surveyed, it was found that the most popular sportsbooks app was FanDuel (LON: FLTR). The estimated number they brought in was 1.7 million. DraftKings (NASDAQ: DKNG) was right behind them at 900,000 female users in 2021. Finally, Rush Street Interactive saw 600,000 women sign up on their platform.
