Browse articles by topic

New Jersey smashes revenue and handle records in September


New Jersey’s sports betting market has enjoyed its strongest month since launch, with amounts wagered more than doubling year-on-year and revenue climbing to a record $37.9m in September. 

Total handle for September leapt 142.2% from September 2018 to $445.6m, suggesting the vertical benefitted significantly from the start of the National Football League season on September 5. The majority was staked online, with the channel accounting for $374.2m, or 84.0%, of the market total, compared to $71.3m from retail. 

For the year to date players have wagered $2.97bn, of which $2.44bn (82.1%) was spent online, according to the latest figures from the state Division of Gaming Enforcement. 

In terms of revenue by licensee, Meadowlands and its sub-licensees FanDuel and PointsBet led the way in September. The racetrack accounted for $16.9m of the market total, a 134.2% year-on-year increase. 

Resorts Digital, partnered with DraftKings and The Stars Group’s Fox Bet joint venture, came second, with its monthly revenue of $10.7m representing a 26.0% improvement on the prior year’s figure. 

Monmouth Park, which works with William Hill, came in third with revenue of $3.4m, up 52.2% from the prior year. Ocean Resort, another William Hill partner, followed closely behind after revenue more  than doubled to $3.1m. 

September also saw a trio of operators report significant year-on-year drops in sports wagering revenue, with Harrah’s the biggest faller. The Caesars Entertainment-owned venue saw revenue drop 62.0% to $118,102, while Golden Nugget’s monthly total fell 56.4% to $487,438. 

The Borgata, meanwhile, saw revenue decline 41.2% to $1.5m, in the same month that the GVC-MGM joint venture Roar Digital rolled out its new BetMGM app in the state.

New Jersey’s online gaming market also enjoyed a particularly strong month, with revenue up 59.7% to $41.1m. Golden Nugget continues to lead the market, and to grow rapidly, with its monthly total of $15.6m a 68.5% increase from the prior year. 

Resorts Digital, under whose license The Stars Group operates, continues in second place, with revenue leaping 160.3% to $8.9m. The Borgata, in third, also enjoyed strong year-on-year growth, with its September total up 52.5% to $7.0m. 

For the nine months to September 30, New Jersey’s online casino revenue is up 57.0% at $339.0m. 

The strong performance of the igaming and sports betting verticals offset a weaker month for land-based gaming. Total revenue declined 3.2% to $224.5m. The Borgata rules the roost in the land-based market, with revenue of $57.4m, with Hard Rock’s $29.6m (up 14.1% year-on-year) pushing it into second place.