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State of the Union: New York, New Jersey, Michigan and more

Insight | Analysis

In this week’s State of the Union, powered by Segev LLP, we see the first monthly revenue figures out of New York. While the numbers from the Empire State were large, it hasn’t stopped New Jersey – among many other states – from also setting a monthly betting handle record.

NY mobile sports betting handle nears $2.0bn in opening 30 days

Players in New York wagered just under $2.00bn in the first 30 days since the state launched its legal online sports betting market.

A total of $1.98bn was bet in the period between January 8, when the market opened, and February 6, according to figures released by the New York State Gaming Commission.

New Jersey smashes sports betting and igaming records in January

Players in New Jersey bet a record $1.35bn on sports in January, while igaming revenue in the state reached an all-time high during the month despite this being the first month in which mobile betting was available in neighboring New York.

Total gambling revenue in the state for January amounted to $381.7m, up 10.3% from the same month last year, but down 5.5% from $404.1m in December 2021.

US commercial gaming revenue rockets to $53bn in 2021

The American Gambling Association (AGA) has revealed that the US commercial gaming industry made $53.0bn in revenue in 2021, an increase of $23.0bn from 2020.

This has broken the previous record of $43.65bn set in 2019 by 21.4%, and is a 76.6% increase on commercial revenue generated during 2020.

Michigan becomes latest state to set online betting handle record in January

The Michigan Gaming Control Board recorded handle for online sports betting of $496.8m in January 2022, setting a new state record.

The handle total was a 2.5% improvement on the previous record set in December 2021.

CDI names Simon as new technology chief

Churchill Downs Incorporated (CDI) has announced the appointment of Nate Simon as its new senior vice president and chief technology officer.

Replacing Ben Murr, who was promoted to president of TwinSpires and online gaming in January, Simon will now be responsible for providing strategic technology leadership and services.

Better Collective expands US team with marketing hire

Affiliate group Better Collective has announced the appointment of Adam Rosenberg as head of marketing and communications in the US.

In his new role, Rosenberg will head the group’s PR team in the US and also drive branding efforts across Better Collective’s US assets.

Delaware igaming revenue grows 51.3% year-on-year in January

Online gaming in Delaware was recorded at $1.1m (£827,497/€988,647) for the month of January, in a mostly successful month for the state.

This was a rise of 3.0% compared to the previous month and up 51.3% from January 2021.

Nevada Super Bowl wagers reach record $179.8m

Players in Nevada wagered a record $179.8m on this year’s edition of the NFL’s Super Bowl.

The amount spent at 179 licensed sportsbooks across Nevada on Super Bowl LVI surpassed the previous record of $158.9m in 2018 by 13.2%, according to the Nevada Gaming Control Board (NGCB).

Iowa sports betting handle doubles year-on-year in January

Bettors in Iowa staked $303.3m in the first month of 2022, meaning handle more than doubled year-on-year.

Amounts wagered for January was up 102.9% from January 2021’s $149.5m total figures from the Iowa Racing and Gaming Commission show.

Wynn reports 2021 revenue growth, agrees $1.70bn Encore Boston Harbor sale

Wynn Resorts reduced its net loss in 2021 after revenue increased 79.6%, while the operator reached a definitive agreement to sell its Encore Boston Harbor to Realty Income for $1.70bn (£1.25bn/€1.50bn).

New Jersey Super Bowl LVI wagers reach $143.7m

Players in New Jersey spent $143.7m betting on the NFL’s Super Bowl LVI, an increase of 22.4% on last year.

Preliminary wagering statistics reported by Atlantic City Casinos and New Jersey racetracks show a projected payout of $135.9m, resulting $7.8m in revenue for sportsbooks.

Paysafe expands into Louisiana and Oregon

Payment platform Paysafe has expanded into the legal mobile sports betting markets of both Louisiana and Oregon.

Paysafe will now makes its payment services available to players in both states, while it will also power igaming affiliate programs in Louisiana through its Income Access business.