Puerto Rico’s Gaming and Betting Industry Generates $186 Million in 2023
Puerto Rico’s gaming and betting industry reported a total revenue of $186 million for the year 2023, according to Juan Santaella, the Interim Director of the Puerto Rico Gaming Commission. The bulk of this revenue, $177.3 million, came from the island’s casino sector.
Historical Context and Current Trends
Puerto Rico has a longstanding history in the casino industry, being the second U.S. jurisdiction to legalize casinos in 1948. Despite this rich history, modern betting habits in Puerto Rico mirror those on the U.S. mainland, with a portion of wagers placed online.
Santaella noted that in major casinos like Casino Metro and Casino del Mar, approximately 80% of bets are made online compared to 20% in person.
Santaella emphasized the dual role of casinos in Puerto Rico as both gaming and entertainment centers. Beyond gambling, these venues host artistic events and other activities, attracting both locals and tourists. This influx of tourists is crucial, as a portion of the gaming revenue is allocated to the development and promotion of Puerto Rico as a tourism destination.
Sports Betting and Horse Racing
Sports betting, although relatively new to the island, contributed a modest sum of just over half a million dollars. This sector was legalized in 2019, but the market only became active in early 2022, with online sports betting launching last year. Horse racing added another $8.7 million to the total revenue.
Currently, Puerto Rico has six licensed online sports betting operators, but only two are actively receiving bets: BetMGM, in partnership with Casino del Mar, and Caesars, in partnership with Casino Metro. These partnerships highlight the integration of traditional casino operations with modern online betting platforms.
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