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Gambling in the USA

NJ Online Casinos Generate Highest Revenues To Date – $63.65 Million

George Miller

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NJ Online Casinos Generate Highest Revenues To Date - $63.65 Million
Reading Time: 2 minutes

 

With an additional $24.22 million in online sports betting revenue this March, led by a dominating performance from FanDuel Sportsbook (Sports betting revenue reports under Meadowlands,) NJ online gambling operators generated a total of $63.65 million in online gross revenue compared to a total of $44.6 million in the previous month, according to BonusSeeker.com.

Online gaming revenue jumped a whopping 42.7 percent in March compared to the prior month, according to figures released Friday by the New Jersey Division of Gaming Enforcement. New Jersey online gambling operators report revenues in three gaming categories;

  • $37.23 million in gross online casino gaming win
  • $24.22 in gross online sports betting win
  • $1.90 million in gross online poker gaming win

New Jersey online casino operators are hotter than ever as they closed the first quarter for 2019. Gross revenue growth on casino games is led by operators under the umbrellas of Golden Nugget Online Casino and Resorts Online Casino. Golden Nugget’s $14.22 million reporting includes gross casino game revenues from Golden Nugget Online Casino and SugarHouse Online Casino, to along with both Betfair Online Casino and FanDuel’s online casino players. Resorts Casino’s $7.86 million gross casino games revenue comes from play at DraftKings, Mohegan Sun Online Casino, Resorts Online Casino, and PokerStars.

Even without the massive revenue growth from sports betting activity, NJ gambling sites marked the largest month-over-month gain in the market since its inception, generating $39.13 million in online poker and casino game revenues in the March 2019.

“Something special is clearly clicking over at FanDuel, who just set a new benchmark for success in regulated online gambling. With Pennsylvania online casinos opening operations in the next few months, 2019 is proving to be a pivotal year in the legalization of online gambling in the US.” BonusSeeker.com Managing Editor, Rich Migliorisi.

New Jersey Online Gambling Revenue by the Numbers – March 2019 (in $ millions)

Casino

Golden Nugget   

$14.23

Resorts                

$7.86

Borgata                 

$4.96

Caesars                 

$4.33

Ocean Resort         

$0.497

Hard Rock               

$1.63

Tropicana

$3.72

Total                      

$37.23

Poker

Golden Nugget        

$0

Resorts                    

$.613

Borgata                    

$.483

Caesars                   

$.806

Ocean Resort          

$0

Hard Rock               

$0

Tropicana

$0

Total

$1.90

Combined (Casino + Poker)

Golden Nugget     

$14.23

Resorts                  

$8.473

Borgata                  

$5.44

Caesars                 

$5.13

Ocean Resort        

$0.497

Hard Rock             

$1.63

Tropicana

$3.72

Total

$39.13

Sports

Bally      

$.335

Borgata 

$.101

Golden Nugget

$.098

Hard Rock          

$.0016

Ocean Resorts   

$1.42

Resorts Digital    

$7.28

Meadowlands

$13.32

Monmouth

$1.67

Tropicana

$.021

Total

$24.22

For more information, visit https://www.bonusseeker.com

About BonusSeeker.com:
BonusSeeker.com is a leading source for iGaming news, online games, and online casino / sports betting promotions in the U.S. regulated online gaming markets.

 

SOURCE BonusSeeker.com

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Gambling in the USA

Oklahoma Tribal Leaders Approve a Resolution against Governor’s Gambling Plan

Niji Narayan

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Oklahoma Tribal Leaders Approve a Resolution against Governor’s Gambling Plan
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The leaders of Oklahoma-based Cherokee, Chickasaw, Choctaw, Muscogee (Creek) and Seminole nations have approved a resolution denouncing the new Republican governor’s plan to force negotiations for a bigger slice of revenue from Oklahoma’s tribal casinos.

The Inter-Tribal Council of the five civilised tribes approved the resolution during a meeting in Tulsa.

Last week, Gov. Kevin Stitt said that the existing compacts should be reevaluated now that the gambling industry has matured in Oklahoma.

Tribal leaders and the governor disagree over what triggers a 15-year renewal of the compacts.

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Compliance Updates

Sports Betting Becomes Legal in New Hampshire

Niji Narayan

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Sports Betting Becomes Legal in New Hampshire
Photo Source: reviewjournal.com
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New Hampshire has become the latest U.S. state to legalise sports gambling. Gov. Chris Sununu signed into law a measure that legalises betting on professional sports and most Division I college sports, excluding games involving New Hampshire schools. The state Lottery Commission will regulate the new industry.

“We can do it with a lot of confidence because it’s being done responsibly, and it’s being done with an organization here at the lottery that just knows what they’re doing. They know how to get this stuff off the ground,” Sununu said.

Opponents had argued sports betting would continue the state’s reliance on problematic revenue sources, including alcohol and cigarettes, the so-called “sin taxes.” But supporters argued legalising of sports betting will bring black-market activity to the surface and provide support for problem gamblers through a new organisation focused on education, prevention and treatment.

“I’m happy we’re bringing an illicit activity into the light for our citizens of New Hampshire and allowing for some consumer protections,” Rep. Timothy Lang said. He called it a win for residents, communities, the state and public education.

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Gambling in the USA

Twin River Worldwide Signs Agreement to Acquire Two Casinos from Eldorado Resorts

Niji Narayan

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Twin River Worldwide Signs Agreement to Acquire Two Casinos from Eldorado Resorts
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Twin River Worldwide Holdings has entered into a definitive agreement to acquire the Isle of Capri Casino in Kansas City and Lady Luck Casino in Vicksburg from Eldorado Resorts in a cash transaction for $230 million.

The purchase price represents an implied trailing twelve month proforma earnings before interest, taxes, depreciation and amortisation multiple of approximately 8.4× for the properties on a combined basis.

“This transaction continues our focus on creating long-term shareholder value as we strive to develop or acquire assets which we believe will prove accretive to our earnings,” George Papanier, President and CEO of TRWH said.

“Isle Kansas City and Lady Luck Vicksburg expand our geographic footprint with assets in attractive markets. We believe these assets are a great fit for our portfolio and see the opportunity to increase the net cash flow from these properties by our redevelopment and operating plans. In particular, in Kansas City, where the property lies within an area near downtown that has been targeted by local officials for development, we feel there is opportunity for capital investment in the property which we believe will have a transformative impact and integrate well with local development efforts in the area,” George Papanier added.

The transaction is subject to receipt of required regulatory approvals and is expected to close in early 2020.

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