• Thu. Feb 22nd, 2024

September proves successful for New Jersey sportsbooks


Feb 10, 2024 #city state mabini

Online and land-based sportsbetting operators in New Jersey reportedly chalked up almost $24 million in revenues last month off of some $184 million in wagers and helped the eastern state’s gaming industry to push its overall September takings up by 19.5% year-on-year to over $281.6 million.

Meadowlands Racetrack comes out on top:

According to a Monday report citing official figures from the New Jersey Division of Gaming Enforcement (pdf), Meadowlands Racetrack was the biggest land-based winner in September as its sportsbook recorded monthly gross revenues in excess of $4.3 million. This was followed by Atlantic City’s Borgata Hotel Casino and Spa as its takings hit nearly $2.4 million while Monmouth Park Racetrack managed to post a very respectable tally slightly above $2.1 million.

The figures showed that none of the remaining land-based sportsbetting operations in New Jersey had managed to crack the $1 million barrier in terms of September gross revenues although Ocean Resort Casino came close as its monthly tally hit $999,858.

DraftKings.com’s online dominance:

September proves successful for New Jersey sportsbooks

PlayUSA.com reported that the figures for September were especially significant because the 30-day period represented the first full operational month for most of the state’s seven online sportsbooks. Of these, the DraftKings.com service operated in partnership with Resorts Casino Hotel held the top spot with gross monthly revenues above $8.5 million.

Lucrative PASPA reversal:

New Jersey began issuing land-based sportsbetting licenses in June following the earlier invalidation by the United States Supreme Court of the Professional and Amateur Sports Protection Act (PASPA) while local punters have been able to place wagers online with DraftKings.com since the first day of August.

Runner-up spot for FanDuel.com:

The figures from the New Jersey Division of Gaming Enforcement also showed that the locally-licensed online sportsbook at FanDuel.com, which is offered via a partnership with Meadowlands Racetrack, recorded September gross revenues of $2.8 million. Of the remaining five services, the PlaySugarHouse.com sportsbetting domain licensed through Golden Nugget Atlantic City had a monthly gross tally of $619,030 followed by Ocean Resort Casino and Monmouth Park Racetrack with earnings of $292,081 and $70,785 respectively from their arrangements with WilliamHill.com.

Rounding out the New Jersey-licensed online sportsbetting services and PlayUSA.com reported that Borgata Hotel Casino and Spa’s PlayMGM.com domain saw its gross revenues for September reach $120,938 while the CaesarsCasino.com and 888Sport.com sites from the Caesars Interactive Entertainment subsidiary of Caesars Entertainment Corporation chalked up a combined monthly total of $106,463.

Regulator salutes ‘superb’ results:

David Rebuck, Director for the New Jersey Division of Gaming Enforcement, used an official statement to hail ‘another month of superb revenue increases’ that had been helped by the ‘explosive growth in sports wagering’ along with ‘continuing improvements in Internet gaming and bricks-and-mortar casino win results.’

Reportedly read Rebuck’s statement…

“The revenue results point to a strong finish for New Jersey’s gaming industry in 2018.”

By admin