Last May, Desert Diamond Sportsbook accounted for just $500,000 of more than $461 million in wagers in Arizona. This past May, the local sportsbook from the Tohono O’odham Nation was responsible for $10 million of $451 million in handle.
That number puts it sixth in terms of market share out of 16 sportsbooks, coming in just behind Barstool Sportsbook. Over the past few months, Desert Diamond has even outpaced Barstool to crack the top five and done so without spending heavily on promotional credit spend. In fact, Desert Diamond and Golden Nugget both reported no promo credit deductions for the month of May.
Promotional credit activity for the month was unsurprisingly quiet overall given the slowing of the sports calendar. Roughly $13.1 million of the $14.7 million of promotional spending came from the big three of FanDuel ($5m), DraftKings ($4.8m), and BetMGM ($3.3m).
Accordingly, the trio also accounted for 80% of handle. FanDuel led the pack with $162.3 million followed by DraftKings with $130.4 million and BetMGM with $66.8 million.
Gross gaming revenue for the month amounted to $48 million for a hold percentage of 10.7%. After promotional credit deductions, adjusted gross revenue for the month came in at $33.3 million, resulting in $3.3 million in tax dollars for the state.
Handle was relatively flat YoY, dipping just 3.3%. The monthly decline from April to May amounted to a 15.8% drop in line with the natural slowing of the sports calendar.
Desert Diamond’s growth in Arizona extends beyond just sports betting. The group recently broke ground on a fourth property within the state just outside Glendale. At this year’s SBC Awards North America, the group captured both Industry Rising Star of the Year and Tribal Gaming Operator of the Year.
