After a month of milestones and a new record handle that topped $50 million, New Jersey’s online and retail sportsbooks are positioned to overtake Nevada for the first time since August 2019, according to analysts from PlayNJ.com.
“New Jersey could very well top Nevada, not just in January, but for the foreseeable future,” said Dustin Gouker, lead analyst for PlayNJ.com. “And assuming that happens, we could be seeing the beginning of New Jersey’s more permanent place as the top market in the country.”
Spurred by basketball, New Jersey’s online and retail sportsbooks generated $540.1 million in bets, up 71.3% from $385.3 million in January 2019, according to official reporting released Wednesday. In December 2019, sportsbooks generated $557.8 million in bets.
With the NFL Playoffs and college football’s national championship, football generated $129 million in bets. But basketball generated $177.5 million, or 32.9% of the state’s January handle.
Nevada has outdone New Jersey in monthly handle for four consecutive months, beginning with the kickoff of the NFL season. But New Jersey appears to be tracking ahead of Nevada, which generated $497.5 million in January 2019 and has never enjoyed a $500 million January in its history.
“While still the most popular sport in New Jersey, football does not quite command the same share of the sports betting market as it does in Nevada,” Gouker said. “Meanwhile, basketball has proven to be a big winner for the state. That puts New Jersey in prime position over the next few months in its race to become the country’s largest legal sports betting jurisdiction.”
January’s handle yielded a record $53.6 million in revenue, up 285% from $18.8 million won in January 2019 and up from $29.4 million in December. January resulted in $6.6 million in tax revenue for the state.
During the month New Jersey reached three impressive milestones: $6 billion in bets ($6.4 billion), $400 million in revenue ($447.1 million), and $50 million in sports betting taxes ($53.4 million) since the industry launched in June 2018.
Online betting remains the key vehicle for growth, generating $471.1 million, or 87.2% of the state’s January handle. In addition, new betting opportunities could help grow New Jersey’s market in February, including online-conducive Super Bowl prop bets, Oscars betting, and even a modest spike in interest from the XFL.
“New Jersey has been on the leading edge since the sports betting market first launched in 2018,” said Eric Ramsey, analyst for PlayNJ.com. “No market has been as innovative, and that is a significant contributor to the rapid maturity of New Jersey’s sports betting industry.”
FanDuel Sportsbook/PointsBet topped the online market once again with $22.2 million in gross revenue, up from $12.1 million in December. Resorts Digital, which is anchored by DraftKings and Fox Bet, generated $15.9 million, up from $9.1 million.
The online market leaders were followed by:
- Monmouth/William Hill/Sugarhouse/TheScore ($2.8 million, up from $1.9 million in December)
- BetMGM/Borgata ($2.5 million, up from $995,096)
- Ocean Casino/William Hill ($2 million, up from $1.2 million)
- Caesars Sportsbook/888sport ($491,164, up from $64,759)
- Golden Nugget/BetAmerica ($431,643, up from $102,524)
- Hard Rock/Bet365/Unibet ($340,933, up from -$294,442)
- Tropicana/William Hill ($74,379, up from $32,958)
FanDuel Sportsbook at The Meadowlands continued to take advantage of its proximity to New York — posting $4.3 million in gross revenue, up from $2.4 million in December — to continue its hold on the retail market. FanDuel was followed in gross revenue by:
- Monmouth Park ($883,716, up from $617,410 in December)
- Borgata ($723,927, down from $1.3 million)
- Ocean Casino ($377,369, up from -$68,035)
- Bally’s AC ($164,575, up from $108,437)
- Resorts AC ($163,436, up from -$406,493)
- Golden Nugget ($116,266, up from $66,306)
- Harrah’s AC ($107,424, up from -$107,646)
- Tropicana Casino ($100,288, up from $71,460)
- Hard Rock AC (-$4,467, up from -$51,182)
ONLINE CASINOS BLOW PAST $50 MILLION IN JANUARY
New Jersey’s online casino and poker industry enjoyed a $50 million month for the first time, generating a record $55.1 million in January. The total is up 64% from $33.6 million in January 2019.
After posting eight record months in 2019, the market is showing no signs of slowing down. The state’s online casinos recently launched live online slots, adding a new avenue for growth. If online casinos continue their current trajectory, the industry will easily generate more than $650 million in revenue in 2020. That would smash 2019’s record of $482.7 million.
“$700 million in revenue is within reach in 2020, which would have been inconceivable just a few years ago,” Ramsey said. “The industry’s ability to find new areas of growth, along with the symbiotic relationship that exists with online sports betting, will keep online casino gambling moving forward.”
Some other important online casino and poker data from the January report:
- Online casinos injected $8.3 million into state coffers.
- The Golden Nugget generated a record $21.2 million in online revenue to lead the market. That again outpaced its own New Jersey casino, which produced $15 million in revenue.
- Online casinos and poker generated $1.8 million per day during the 31 days in January, up from $1.1 million per day in January 2019.
- Online casino games attracted $53.3 million in bets, up from $31.7 million in January 2019. Online poker posted $1.8 million, down from $1.9 million in January 2019.
For more information and analysis on regulated sports betting and online gaming in New Jersey, visit PlayNJ.com/news.
About the PlayUSA.com Network:
The PlayUSA.com Network is a leading source for news, analysis, and research related to the market for regulated online gaming in the United States. With a presence in over a dozen states, PlayUSA.com and its state-focused branches (including PlayNJ.com and PlayPennsylvania.com) produce daily original reporting, publish in-depth research, and offer player advocacy tools related to the advancement of safe, licensed, and legal online gaming options for consumers. Based in Las Vegas, the PlayUSA Network is independently owned and operated, with no affiliations to any casino — commercial, tribal, online, or otherwise.
Hacksaw Gaming Debuts DraftKings Partnership in New Jersey
The launch celebrates another North American venture with DraftKings this quarter.
Hacksaw Gaming established its business relationship with DraftKings this time last year. The pair have embarked on a North American takeover since, having successfully set the collaboration in motion in West Virginia after receiving full regulatory approval in June. The studio has already set eager sights on Pennsylvania as another future target.
Gripping the charts as renowned industry lead in the US, DraftKings has rolled out Hacksaw’s classic slots, Chaos Crew and OmNom, alongside fan-favourite Dare2Win games Mines and Boxes. The games have received a warm welcome in the online casino lobby following a fruitful agreement to brand Hacksaw’s first 10 games with exclusivity in the market for the next 2 weeks.
“Having secured such a significant presence in the US in 2023 is something we are incredibly proud of,” said Marcus Cordes, CEO of Hacksaw Gaming, “our hard work takes form in our ever-increasing footprint”.
Jackpot Digital Receives License to Install Three Jackpot Blitz(R) ETGs at Jackson Rancheria Casino Resort in California
Jackpot Digital has announced that it has received licensing approval from the Jackson Rancheria Tribal Gaming Agency, the regulator for Jackson Rancheria Casino Resort located in Jackson, California. The vendor’s license was the final step required for the Company to install Jackpot Blitz ETGs at Jackson Rancheria. The Company is now scheduling installation for three of its next-generation, dealerless Jackpot Blitz ETGs at the property.
Each new table installed will represent additional monthly recurring revenue to the Company.
In addition to Jackpot’s cruise ship customers, which include Carnival Cruises, Virgin Voyages, Princess Cruises, Holland America, AIDA, and Costa Cruises, Jackpot has announced land-based installations or orders in 12 states and territories in the US and growing, including California, Kansas, Louisiana, Michigan, Minnesota, Mississippi, Montana, Nevada, Oregon, South Dakota, US Virgin Islands, Washington, as well as several international jurisdictions.
NYC Agency Aims to Streamline Casino Application Process, But Critics Warn of Potential Community Exclusion
On Monday, the Department of City Planning introduced a new measure aimed at simplifying the application process for casinos in New York City. However, this move has sparked criticism for potentially sidelining community boards.
This initiative, discreetly submitted last Friday, emerges amidst intense competition among prominent developers for one of the three sought-after casino licenses in the downstate area.
Dan Garodnick, the City Planning Commissioner, described the measure, formally known as a zoning text amendment, as an effort to streamline the alignment of city and state procedures during a meeting on Monday.
Garodnick explained, “Our proposal is designed to level the playing field for these entities as they strive to demonstrate the economic benefits they plan to bring to New York City. Our goal is to establish a process that facilitates an orderly dialogue.”
While the state is responsible for granting casino licenses, Garodnick and City Council Speaker Adrienne Adams expressed concerns in October about the city’s current land review processes. They argued that these processes are insufficient for new casinos, placing New York in a less competitive position.
The proposed amendment aims to simplify the review process, allowing state-sanctioned casinos to proceed without zoning conflicts or redundant steps in the state’s extensive licensing procedure, according to Garodnick.
With two of the downstate licenses likely going to existing racinos in Yonkers and South Ozone Park, Queens, the battle for the remaining license in New York City is intense. City Planning has confirmed eight potential locations, including five in Midtown Manhattan, one at Ferry Point in the Bronx, one in Queens proposed by Mets owner Steve Cohen, and another in Brooklyn near Coney Island, in addition to the Queens racino.
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