New Jersey’s sports betting market has gone through its strongest month since its launch, with total amounts which have been wagered more than doubling year-on-year and revenue climbing to a record $37.9m in September.
Total handle for September has made a huge jump of 142.2 per cent from September 2018 to $445.6m. This has suggested the vertical benefitted significantly from the beginning of the National Football League season on September 5. The majority has been 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 a total of $2.97bn, where $2.44bn (82.1%) was spent online, according to the latest figures from the state of Division of Gaming Enforcement.
In terms of revenue by licensee, Meadowlands and its sub-licensees FanDuel and PointsBet took the lead in September. The racetrack accounted for $16.9m of the market in total, a 134.2 per cent year-on-year increase.
Resorts Digital who have partnered with DraftKings and The Stars Group’s Fox Bet joint venture, followed in second, where its monthly revenue of $10.7m representing a 26.0% improvement on the prior year’s figure.
Monmouth Park, who are working with William Hill, then came in third. Their revenue came in third with $3.4m. This up 52.2 per cent from the prior year. Ocean Resort, who are another partner of William Hill then followed closely behind after revenue more than doubled to $3.1m.
September has also seen a trio of operators report significant year-on-year drops in sports wagering revenue, with Harrah’s being the biggest faller. The Caesars Entertainment-owned has seen a decline of 62.0 per cent to $118,102. Golden Nugget’s monthly total fell 56.4 per cent to $487,438.
The Borgata, meanwhile has seen a revenue decline of 41.2 per cent to $1.5m. This has happened in the same month in which the GVC-MGM joint venture Roar Digital rolled out its new BetMGM app in the state.
New Jersey’s online gaming marker has also come to enjoy a particularly strong month, with revenue increasing 59.7 per cent to $41.1m. Golden Nugget has continued to lead the market, and to grow rapidly with its monthly total of $15.6m, a 68.5 per cent increase from the prior year.
Resorts Digital, who are under the license who The Stars Group operates, continues in second place with revenue gaining a huge increase of 160.3 per cent to $8.9m. The Borgata came in third where they enjoyed a strong year-on-year growth, with its September total up 52.5% to $7.0m.
For the nine months to September 30, New New Jersey’s online casino has increased 57.0 per cent to $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.