FAYETTEVILLE, Ark. (KNWA/KFTA) — According to a report from the state, Arkansas casinos saw more revenue last month, while the totals for sports betting fell.
The Arkansas Department of Finance and Administration released the statistics as part of its February sports betting and casino revenue report. Casino handle was $633,337,603, up 5.6 percent from January. The casinos’ net win for the month was up 9 percent.
The total sports betting handle in Arkansas in February was $29,532,463, down 10.4 percent from the prior month. Net revenue for the month fell 40.4 percent compared to January, but that drop was common across the country, according to pundits.
“After last month’s record-breaking numbers, many were likely expecting February to be another blowout for the sportsbooks, especially coming on the heels of Super Bowl 57, one of the most lucrative sporting events of the year,” said BetArkansas.com‘s Dru James. “However, there was instead a near 5% decrease in sports betting spend that month. This has been the case across the entire US market, but Arkansas is among those that have suffered the least so far: some states saw a decline in wagers upwards of 20%.”
James noted that Arkansas’s sports book hit in February was “not atypical behavior for the market.” He added that March will be likely to see a recovery due to the NCAA basketball tournament.
“Then sportsbooks all over the country will begin to brace for the dreaded spring and summer of discontent,” James said. “A time when betting slows down due to the end of the regular season for many sports. Casinos are expected to shine during that time.”