DraftKings and the Scarlet Pearl Casino Resort in D’Iberville, Miss. announced a partnership on Monday that will put DraftKings in charge of the casino’s retail sportsbook.
Once live, this will mark two firsts for the Boston-headquartered company: its first retail sportsbook and its official foray into a second state after New Jersey, where DraftKings operates under a license with Resorts Casino and so far has led the competition among NJ online sportsbooks — by a couple laps — in terms of handle and gross revenue.
“Opening Nov. 16, 2018, the sportsbook will transform Scarlet Pearl’s existing PRL Bar into a multi-screen betting and social destination for sports lovers,” reads Monday’s joint news release.
It’s official — Mississippi loves it some football. The state’s gaming commission released its September sports betting numbers on Monday, and they are sky high. Magnolia State sports bettors wagered $31.77 million and produced $5.5 million in taxable revenue during the first full month of professional and college football. Those numbers dwarf August, which had $644,489 in taxable revenue on a $7.7 million handle.
The handle includes futures bets made, while the taxable revenue does not include futures bets, many of which are not yet decided.
Most notable was the state’s win percentage, which was a whopping 17.3 percent. For comparison, that number was 10 percent in August and Nevada traditionally has a 5 to 7 percent hold.
The Mississippi Gaming Commission on Thursday released its official report for the first full month of sports betting, and the state took in $6,269,629 in handle with gross taxable revenue of $644,489. The handle includes futures bets made, while the taxable revenue does not include futures bets, many of which are not yet decided.
Mississippi’s coastal casinos, which include sportsbooks from Bay St. Louis to the Biloxi area, took in the most amount of bets, with $4,363,799, while the most bets were made on baseball, followed by football and parlay cards. The report runs from Aug. 1-31, and does not include the figures through Labor Day weekend.
In terms of breakdown, Mississippi sportsbooks took $3,004,579 bets on baseball, $1,328,578 on football and $1,314,315 on sports parlay cards. There were also about $100,000 worth of basketball bets made. Expect football to be king in September – when you add in the first weekend of college football games, the handle was $9.8 million through Sept. 3, which means state sportsbooks took in about $3.5 million in bets over the Labor Day weekend.
Licensed Mississippi sportsbooks generated $9.8 million in total handle during the state’s first full month of sports betting, Aug. 1-Sept. 3, according to Mississippi Gaming Commission executive director Allen Godfrey.
Following Delaware and New Jersey, the Magnolia State became the third to have properties accept legal wagers since the Professional and Amateur Sports Protection Act (PASPA) was struck down in May. PASPA had banned every state but Nevada from allowing full-fledged sports wagering. Delaware’s three sportsbooks took in a $8.2 million total wagers in its first full month (June 25-July 29) while New Jersey’s four sportsbooks (at the time) produced a handle of $40.6 million for its first full month (July 1-31).
Figures on the hold or respective handle at each property was not available Thursday, nor was tax revenue information, but Mississippi taxes its sportsbooks a total of 12 percent — 8 percent state and 4 percent local — which mirrors every other gaming tax in the state.
20 Sportsbooks Are Now Open for MS Sports Betting, As Magnolia State Reports First Month’s Handle
Both Delaware and New Jersey are using cash accounting systems, where futures bets are included in handle, while Mississippi is using an accrual system, like Nevada does, and futures bets are held out of the total.
Sports betting facilities are opening in Mississippi just about every day, with a handful more expected on Friday. On Thursday, after a meeting of the Mississippi Gaming Commission in the morning, Allen Godfrey, executive director of the commission, was on his way to check out testing going on at several Penn National Gaming properties in advance of their projected openings Friday.
“It hasn’t been overwhelming, it’s just been really busy,” Godfrey said of the slew of openings. “After the initial newness wears off, well, the fall will tell if it’s worth all of their efforts to have it. It’s been a good process so far.”
Before hitting the road, Godfrey’s board approved SBTech and William Hill as “suitable manufacturers and distributors for platforms” to provide sports betting. The companies join IGT and Scientific Games, both of which are also approved providers. By becoming approved providers, the companies can partner with existing, licensed Mississippi casinos to provide sports betting platforms across the state. William Hill announced earlier this month that is has signed agreements with 11 Mississippi casinos.