Ohio Sportsbooks Claimed Nearly $70 Million In February Sports Betting Revenue [Yahoo! Finance]
DraftKings Inc. - Class A (DKNG)
Company Research
Source: Yahoo! Finance
The Ohio Casino Control Commission reported $69.8 million in combined sports betting revenue for February, with online operators accounting for all but $372,550 of the total. In a month where the only football betting was on the Super Bowl, the revenue drop was nearly 30% from January's $99.6 million. Handle came in at $767.5 million, producing a 9.1% statewide hold. Total promotional spend among the 13 mobile operators fell to roughly $20 million, down significantly from the nearly $31 million outlay in January. The state collected an estimated $14.6 million in tax receipts based on $72.8 million in taxable revenue. DraftKings led all operators in handle with $255.3 million, posting a 9.3% hold to claim $23.8 million in revenue. DraftKings gave out $6.9 million in promotional credits. FanDuel, listed under the Hollywood Mahoning Valley skin, topped all operators in February revenue with $29 million from $234.4 million in handle, good for a 12.4% hold. The report also showed
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