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Sportsbook

Internet gambling: Another record month smashed for New Jersey

Tuesday 17 de December 2024 / 12:00

2 minutos de lectura

(New Jersey).- New Jersey’s red-hot internet gambling market continued to smash records in November, even as revenue inside physical casinos continued to lag behind pre-pandemic levels at six of Atlantic City’s nine casinos, numbers released Monday show.

Internet gambling: Another record month smashed for New Jersey

The New Jersey Division of Gaming Enforcement said internet gambling brought in just over $214 million in November, narrowly eclipsing the previous record of $213 million set a month earlier.

“The continuing success of online gaming and sports wagering has helped total gaming revenue achieve its best November monthly result in over a decade,” said James Plousis, chairman of the New Jersey Casino Control Commission.

But that’s not necessarily great news for the casinos. They must share a substantial portion of internet and sports-betting revenue with partners including sportsbooks and tech platforms.

For that reason, the casinos consider money won from in-person gamblers to be their core business. And that business has not been terrific for years now.

The casinos collectively matched their pre-pandemic in-person revenue total of $223.9 million in November. But only three casinos — Hard Rock, Ocean, and Resorts, which barely exceeded its pre-pandemic level — won more from in-person gamblers in November than they did in November 2019, before the COVID-19 outbreak began.

The continuing surge in internet gambling represents a trend that has been present in New Jersey for several years now. It was accelerated by the pandemic, which forced the casinos to close for 3½ months in 2020 and pushed many people to online alternatives that they have continued to use even in the years after the outbreak waned.

November's $214 million in internet revenue was up nearly 25% from a year ago.

Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City gambling industry, noted that New Jersey's internet gambling market exceeded $200 million for the third month in a row.

When internet and sports betting revenue is included, the casinos, two horse tracks that take sports bets, and their online and tech partners won $556 million in November, an increase of 15.4%. That was helped by two additional weekend days in November that did not occur in November 2023.

Borgata won a combined $122.6 million in November, up over 25% from a year earlier. Resorts won nearly $101 million, up nearly 28%; Golden Nugget won nearly $77 million, up 26%; Hard Rock won $63.5 million, up over 21%; Ocean won $39.8 million, up 8.6%; Bally's won $24.5 million, up over 24%; Harrah's won $18.5 million, down 4.4%; Tropicana won $16.6 million, down 7.3%, and Caesars won $16.5 million, down 7.4%.

In terms of in-person revenue only, Borgata won $57.5 million, up 11.4% from a year earlier; Hard Rock won $44.3 million, up 7.1%; Ocean won $34 million, up 8.2%; Harrah's won $18.5 million, down 5.6%; Tropicana won $16.7 million, down 6.6%; Resorts won $13.9 million, up nearly 12%; Golden Nugget won $11.7 million, up 6.7%, and Bally's won $10.8 million, down 10.3%.

Sports betting brought in nearly $119 million in revenue on $1.2 billion worth of bets.

The Meadowlands Racetrack in East Rutherford, just outside New York City, had $50.5 million in sports-betting revenue, down 12.3% from a year ago. It has a FanDuel sportsbook on the premises.

Resorts, which is allied with DraftKings with a retail location and online operations, had nearly $38 million in sports-betting revenue in November, nearly double the amount from a year earlier.

Monmouth Park in Oceanport, near the Jersey Shore, had $2.5 million in sports-betting revenue. That was up 163% from a year earlier, undoubtedly helped by the recent cessation of sports-betting operations at a competing track in the same county, Freehold Raceway, which is closing at the end of this month.

 

Categoría:Sportsbook

Tags: Sin tags

País: United States

Región: North America

Event

GAT EXPO CARTAGENA 2025

28 de April 2025

26th edition of GAT Expo Cartagena closed with great success

(Cartagena de Indias).- The most important fair for the gaming, entertainment, technology and Esports industry in Latin America ended with an excellent commercial balance and testimonials of satisfaction from suppliers and operators, local and international authorities, associations and the main trade unions in the region.

Friday 02 May 2025 / 12:00

Colombian Olympic Committee, GAT Expo, and Colombian Official Esports Announce Historic Partnership to Promote Esports as an Olympic Discipline in Colombia

(Cartagena) - The Colombian Olympic Committee (COC) and GAT Esports have sealed a strategic partnership to promote esports as part of the country's professional sports ecosystem. The announcement was made at a formal ceremony held at the gaming industry products and services exhibition hall, attended by Marco Emilio Hincapié, President of Coljuegos, COC executives, José Aníbal Aguirre, CEO of GAT Esports, media, and special guests.

Wednesday 30 Apr 2025 / 12:00

GAT Expo 2025: Novelties, technology, innovation, and high-level networking in the magical city of Cartagena

(Cartagena, SoloAzar Exclusive).- Today concludes GAT Expo Cartagena 2025, which has taken place this week with the presence of 23 countries and more than 70 international brands in the historic city of Cartagena de Indias, with its cobblestone streets, flower-filled balconies, and centuries-old walls.

Wednesday 30 Apr 2025 / 12:00

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