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NEW JERSEY SPORTSBOOKS NEARLY HIT $500 MILLION MARK IN OCTOBER FanDuel fuels New Jersey’s sportsbooks to new benchmark; Golden Nugget online tops revenue of land-based counterpart, according to PlayNJ.com

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NEW JERSEY SPORTSBOOKS NEARLY HIT $500 MILLION MARK IN OCTOBER FanDuel fuels New Jersey’s sportsbooks to new benchmark; Golden Nugget online tops revenue of land-based counterpart, according to PlayNJ.com
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New Jersey’s online and retail sportsbooks continued their string of record months and whopping year-over-year gains in October, nearly reaching its first $500 million month. And that growth should continue with the tip-off of basketball season, according to PlayNJ.com analysts.

“New Jersey has a real shot at surpassing Nevada again, if not in October, some time before the end of the NFL season,” said Dustin Gouker, lead analyst at PlayNJ.com. “The state’s handle is growing at a pace near 100%, year-over-year. And the overlapping of football and basketball should propel New Jersey into new territory.”

New Jersey’s sportsbooks accepted a record $487.9 million in bets in October, an 87% jump from $260.7 million in October 2018, according to official reporting released Thursday. October’s handle beat the previous record of $445.6 million, set in September.

October’s bets yielded a record $46.4 million in revenue, up from $11.7 million in October 2018 and breaking the record $37.9 million set last month. October revenue generated $5.7 million in taxes, and pushed the state’s sports betting industry past the $300 million mark ($331.2 million) in lifetime revenue.

New Jersey’s October handle will likely fall short of Nevada — which generated $528.5 million in October 2018 and will announce October 2019 data later this month — for the second straight month. Combined the two largest U.S. markets are generating $1 billion a month in bets. And the Garden State could use the popularity of basketball — which has generated $698.2 million in bets so far in 2019, the most of any sport — to propel it past Nevada once again.

“If New Jersey is going to pass Nevada during the NFL season, it will be in large part due to the comparative popularity of basketball in the Northeast,” Gouker said. “In Nevada, football betting is king, and it’s nearly as popular in New Jersey. But a key differentiator between the two markets is that New Jersey bettors’ have shown more interest in other major sports, especially basketball.”

$417 million of all October bets were made online, accounting for 85% of New Jersey’s handle. That is up from 84% in September.

FanDuel Sportsbook/PointsBet continued to pace the online market, gaining $20.7 million in gross revenue, up from $13.3 million in September. Resorts Digital’s license, which is now anchored by DraftKings and Fox Bet in addition to its self-branded sportsbook, lost ground by generating $10.6 million, down from $10.7 million in September. The online market leaders were followed by:

  • Hard Rock/Bet365/Unibet ($1.8 million, up from $178,255 in September)
  • Monmouth/William Hill/Sugarhouse/TheScore ($1.7 million, down from $2.4 million)
  • Ocean Casino/William Hill ($1.6 million, up from $1.3 million)
  • BetMGM/Borgata ($1.4 million, up from $721,801)
  • Caesars Sportsbook/888sport ($536,600, up from $486,668)
  • Golden Nugget/BetAmerica ($359,216, up from $336,740)
  • Tropicana/William Hill ($40,014, up from $29,783)

FanDuel Sportsbook at The Meadowlands posted $4.1 million in October gross revenue, up from $3.6 million in September, to lead retail sportsbooks. FanDuel was followed in gross revenue by:

  • Monmouth Park ($1.2 million, up from $996,844 in September)
  • Ocean Casino ($697,659, down from $1.8 million)
  • Borgata ($458,351, down from $756,416)
  • Tropicana Casino ($350,230, up from $170,792)
  • Resorts AC ($265,320, down from $340,117)
  • Bally’s AC ($233,745, down from $241,703)
  • Hard Rock AC ($123,616, down from $231,150)
  • Golden Nugget ($176,890, up from $150,698)
  • Harrah’s AC ($92,449, down from $118,102)

“The addition of Fox Bet under the Resorts Digital license has reset the race for the top spot in the online market,” Gouker said. “FanDuel is still the most popular single brand in the state, but it will be worth watching whether it can keep up with DraftKings and Fox Bet.

GOLDEN NUGGET’S ONLINE REVENUE TOP LAND-BASED REVENUE AS ONLINE CASINOS ENJOY RECORD MONTH

New Jersey’s online casino and poker industry continued its push toward $450 million in annual revenue after a record October, as the Golden Nugget’s online product generated more revenue than its land-based casino for the first time.

Online casino games and poker generated $45.2 million in October, up 69% from $26.8 million in October 2018, and blowing past the previous record of $41.14 million set in September. The industry has now generated an annual best $384.2 million in revenue so far in 2019 — 58% better than the $242.7 million generated in the first 10 months of 2018.

The importance of New Jersey’s digital product can be seen in the online casino market’s heaviest hitter. The Golden Nugget tallied $16.6 million in October, up 71% from $9.7 million in October 2018, to easily lead the online casino market. More importantly, for the first time its online revenue surpassed the revenue its land-based Atlantic City casino generated ($14.8 million).

“What the Golden Nugget continues to prove is that its online casino can generate millions in revenue and grow at an overwhelming pace without a negative impact on their own land-based operations,” said Eric Ramsey, online gambling analyst for PlayNJ.com. “When the first online casinos launched in 2013, many thought such a dynamic would be impossible. But clearly that has been proven wrong.” 

Some other important online casino and poker data from the September report:

  • Online casinos generated $6.8 million in tax revenue in October and has now injected $245.1 million into government coffers since launch in November 2013.
  • The industry generated $1.5 million per day during the 31 days of October, up from $863,028 per day in October 2018.
  • Online casino games generated $43.6 million in October, up from $39.5 million in September. Online poker was flat at $1.6 million.

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.

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Gambling in the USA

Gaming Americas Weekly Roundup – March 18-24

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

DraftKings unveiled My Stat Sheet, a gaming tool that gives players the ability to assess, track and interact with their personal stats through intuitive charts and information that will help empower players to make data-driven decisions on their own play and therefore promote responsible gaming. This new feature is now available across all DraftKings and Golden Nugget products.

Jackpocket announced the release of Super Pick, a new app feature that streamlines the lottery experience for Mega Millions and Powerball fans, offering an even more convenient way to participate as combined jackpots soar past $1.3 billion. Jackpocket’s new Super Pick feature gives users an easy way to pick every special and standard ball in the game with just one tap.

The Senate Tax Committee advanced legislation authored by Senator Matt Klein to legalise Sports Betting in Minnesota. This was the second time the bill has been heard in Taxes, after making a stop last year. The hearing focused on changes to tax rates and revenue disbursements.

The Arizona Department of Gaming announced that it has allocated an event wagering operator license to Fanatics Betting and Gaming as the designee for Tonto Apache Sports Betting, an organisation of the Tonto Apache Tribe, pursuant to A.R.S. § 5-1304 and A.A.C. R19-4-105 and 106.

The Massachusetts Gaming Commission reported that the month of February 2024 at Plainridge Park Casino, MGM Springfield and Encore Boston Harbor generated approximately $100.57 million in Gross Gaming Revenue. Additionally, approximately $52.55 million in taxable sports wagering revenue was generated across the eight mobile/online sports wagering licensees and the three in-person licensees for the month of February.

Rebet, a new free-to-play social sportsbook, announced its official launch. The Rebet App, which is now available for download in the App Store across 47 U.S. states, is set to revolutionise the sports betting experience with first-of-its-kind features including an entire social sportsbook, peer-to-peer contests and dynamic user social feeds.

Partnerships

SPARKET announced an expanded partnership with the World Jai Alai League, solidifying their commitment to enhancing the fan experience and driving growth in the world of Jai Alai. Following the successful implementation of SPARKET’s innovative platform within the league, both entities have decided to deepen their collaboration. This strategic move aims to further revolutionise how fans interact with and enjoy Jai Alai, leveraging cutting-edge technology to increase engagement from at-home viewers.

Bragg Gaming Group announced the launch of a custom slot game developed for Caesars Digital, Boardwalk Slots Bankers & Cash, now exclusively live on Caesars Palace Online Casino and Caesars Sportsbook & Casino in Michigan and New Jersey. The bespoke release takes proven game features and artwork from Bragg’s popular slot title Bankers & Cash and combines it with the evocative Boardwalk Slots brand owned by Caesars Digital.

International Game Technology announced that its IGT PlayDigital iGaming content library is now available in Rhode Island via the Bally Casino Rhode Island app and on BallyCasino.com. This milestone content deployment makes IGT PlayDigital one of only two suppliers to offer content in all seven U.S. online gaming jurisdictions.

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Gambling in the USA

Gaming Americas Weekly Roundup – March 11-17

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

Scientific Games announced the consolidation of its legal and public policy teams into a new unified department, Global Legal and Public Policy. This team will be led by James D. Schultz who will assume the new title of Executive Vice President, Global Legal and Public Policy. Deputy General Counsel Phil Bauer, an indispensable 25-year veteran of the company, will be promoted to General Counsel and Corporate Secretary, and report to Schultz.

Sportradar Group AG announced that the North Carolina State Lottery Commission has granted Sportradar’s U.S. betting subsidiary, Sportradar Solutions LLC, a Supplier license in the state North Carolina. This license is valid for five years from its date of issuance on February 28.

The Office of Lottery and Gaming (OLG) announced that FanDuel is the new sports wagering subcontractor for Intralot Inc., OLG’s lottery and sports wagering system vendor. Under this agreement, residents of Washington, D.C. will gain access to FanDuel’s sports wagering app, which is the market leader nationally, as well as its website and retail platforms.

Elys BMG Group Inc. announced that Grand Central Sportsbook in Washington D.C. (Grand Central) has been granted provisional approval to open its H Street sportsbook by the DC Office of Lottery and Gaming, Regulation and Oversight Division.

BetMGM has officially launched its mobile sports betting service in North Carolina, giving customers in the Tar Heel state access to a wide variety of betting options as well as the opportunity to earn experiences at MGM Resorts’ properties nationwide.

Supremeland Gaming announced the approval of an interim Supplier License in West Virginia, further solidifying its position as a key player in the rapidly expanding iGaming industry. This milestone marks the company’s third approval following the successful acquisition of the first approvals in Pennsylvania and New Jersey.

Partnerships

Caesars Entertainment and National Hockey League (NHL) announced a renewal of their US partnership. The new, multiyear partnership extension retains Caesars’ status as a Sports Betting and Gaming Partner of the NHL and, for the first time, provides Caesars Digital with access to League-owned intellectual property to build and promote NHL-branded iCasino games for its online casino platforms in North America, including the recently launched Caesars Palace Online Casino.

SCCG Management announced the extension and significant expansion of its strategic partnership with SnapOdds, the revolutionary sports betting technology product from Snapscreen Inc. This expansion marks a pivotal shift towards a consumer-facing (B2C) strategy, leveraging SnapOdds’ unique TV and streaming content recognition software.

Hip-Hop icon Nas has partnered with Resorts World New York City on a $5 billion expansion plan for a casino in Queens. The vision of Aqueduct Park is to transform the casino in Nas’ hometown, into a full-fledged establishment that mirrors the company’s properties in Las Vegas.

SCCG Management, the leading advisory and management consultancy in the global gaming industry, headquartered in Las Vegas, announced the extension of its partnership with IDnow, a premier European provider of identity verification solutions. This strategic alliance is placing a focused effort on expanding its reach to encompass the broader Latin America (LATAM) region.

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Gambling in the USA

Gaming Americas Weekly Roundup – March 4-10

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

NJ Attorney General Matthew J. Platkin announced the retirement of David L. Rebuck after serving 13 years as the Director of the Division of Gaming Enforcement (DGE), making him the longest-serving director in DGE’s history. In total, Director Rebuck is retiring with 36 years of service to the State.

Altenar’s status as a leading sportsbook provider in South America has been further boosted with the opening of a new office in Uruguay. The new hub, located in Costa Rica Street 1667, in Carrasco, Montevideo, will be the base for around 15 members of staff and strengthen the company’s support for iGaming operators in the LatAm region.

MGM Resorts International and BetMGM announced new groundbreaking initiatives in collaboration with Kindbridge designed to support problem gambling research and mental health services. Kindbridge Research Institute and Kindbridge Behavioural Health are organisations that aim to better understand the problems that exist within at-risk communities, delivering evidence-based treatment for gambling disorder.

Elray Resources has launched Kings of Sport, a state-of-the art online crypto casino that brings together the world of cryptocurrencies with the excitement of traditional casino games. Kings of Sport is expanding player options in the online gambling industry by providing users with a diverse selection of classic and modern casino games that can be played using popular cryptocurrencies like Bitcoin, Ethereum and others.

Supremeland Gaming, the new American iGaming challenger, announced its U.S. expansion, attaining a second gaming approval in the US, three weeks after its inaugural licensing announcement in neighbouring Pennsylvania. The New Jersey approval will allow Supremeland Gaming to build and release games in the Garden State through its partnership with EveryMatrix.

Churchill Downs Incorporated announced that Exacta Systems has completed the installation of 175 Exacta-technology driven terminals at The Brook in Seabrook, New Hampshire. Exacta, acquired by CDI in August 2023, is a leading provider of central determinate system technology for historical racing machines (HRMs). The Brook is a casino entertainment destination located in the easternmost part of the state next to the Massachusetts border.

Underdog announced an investment in idPair by GuardDog, Underdog’s responsible gaming innovation fund. idPair’s proprietary technology creates a centralised view of an individual’s play and gambling activity across all applications and operators in a jurisdiction for regulators, providing for universal responsible gaming limits.

Partnerships

Betfred USA and U.S. Integrity announced a partnership that will provide Betfred with monitoring software and tools that will play a pivotal role in preventing student-athletes, coaches and staff from engaging in prohibited sports wagering.

SCCG Management announced its sponsorship of the 10th Arnold South America Sports Festival in São Paulo, Brazil. This year’s festival, scheduled for April 5-7, 2024, will feature the Pillow Fight Championship (PFC) as its centrepiece, showcasing the thrilling world of professional pillow fighting in South America.

5WPR announced that it has been selected as the public relations Agency of Record for casino and sportsbook platform provider, Soft2Bet, which, after successfully growing its business throughout Europe, is launching in the US, targeting NJ as the first state where it will debut its offering.

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