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Gambling in the USA

PlayNJ.com: New Jersey sportsbooks put Nevada in reach with record January

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PlayNJ.com: New Jersey sportsbooks put Nevada in reach with record January
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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.

Gambling in the USA

Gaming Americas Weekly Roundup – April 8-14

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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

FanDuel Group, the premier online gaming company in North America and an Official Partner of Churchill Downs Inc., announced five time Entertainer of the Year Luke Bryan and Grammy award-winning R&B singer Ne-Yo as the headlining performers at FanDuel’s inaugural Kentucky Derby Party. The exclusive, invite-only event will take place on Friday, May 3 at Paristown Arts and Entertainment District in Louisville, Kentucky from 7:00 PM to 12:00 AM.

TPI, a leading provider of innovative player communication solutions for the casino industry, has appointed Joe Tingson as its new Vice President of Customer Success. With his unparalleled dedication to his customers, Joe will play a pivotal role as a leader for our digital Customer Success and Product teams.

PrizePicks, the largest daily fantasy sports operator in North America, has announced plans for its new 33,000 square foot Atlanta Headquarters, which will be located in the Star Metals Building in Midtown Atlanta. The company plans to grow its workforce by 1000 new jobs over the next seven years, the economic impact of which will be $25M to the state of Georgia.

Century Casinos Inc. has announced that it opened its hotel in Cape Girardeau, Missouri, The Riverview. The Riverview is a 69 room, six-story building with 68,000 square feet that is adjacent to and connected with Century Casino Cape Girardeau. The project cost $30.5 million and was financed with cash on hand.

Churchill Downs Incorporated (CDI) has announced the opening of Terre Haute Casino Resort in Terre Haute, Indiana. The $290 million investment includes a casino floor with 1000 slot machines, 36 table games, and a state-of-the-art sportsbook. The 400,000-square-foot entertainment venue also features regionally inspired bars and restaurants including: Four Cornered Steakhouse, Rockwood Bar & Grill, The Soda Shoppe, Crossroads Center Bar and High Limit Bar.

Bragg Gaming Group Inc., a global B2B gaming technology and content provider, announced that Chief Financial Officer (CFO), Ronen Kannor, has notified Bragg’s board of directors (Board) that he will resign from his position to pursue other career opportunities, effective June 3, 2024. The Company confirms that the search for a replacement CFO has commenced.

Partnerships

EQL Games has partnered with global aggregation leader and NeoGames company, Pariplay, to provide the Virginia Lottery, through an agreement with NeoPollard Interactive, with a series of eInstant iLottery games for their industry-leading digital platform.

JACK Entertainment LLC announced the selection of Konami Gaming Inc.’s SYNKROS to power industry-leading systems technology across its 1.5 million square feet of casino entertainment space. The Ohio-based gaming operator’s portfolio includes a combined 2600+ gaming machines and 85 table games at JACK Cleveland Casino in downtown Cleveland, and at JACK Thistledown Racino, located approximately 10 miles to the southeast.

PrizePicks, the largest daily fantasy sports operator in North America, announced that the company has reunited with the Atlanta Braves as the club’s Official Daily Fantasy Sports Partner for the 2024 season. The partnership extends a longstanding relationship that dates back to 2020, with the two Atlanta-based companies continuing to work together on unique opportunities for their dedicated fans.

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Gambling in the USA

Gaming Americas Weekly Roundup – April 1-7

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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

International Game Technology PLC (IGT) announced that it will showcase its performance-focused portfolio of games and solutions for tribal casinos at the Indian Gaming Tradeshow & Convention (IGA) 2024, April 9-11 in Anaheim, Calif. Under the theme “We’ve Got Game,” IGT’s booth #536 will feature a compelling array of gaming solutions designed to engage players and drive growth.

Caesars Sportsbook announced its receipt of the prestigious RG Check accreditation from the Responsible Gambling Council (RGC). The certification includes an assessment of Caesars Sportsbook’s commitment to Responsible Gaming, including areas such as player and Team Member education, public awareness advertisements and funding for organisations dedicated to Responsible Gaming research, awareness and education.

Veriff, a global identity verification (IDV) provider, announced the appointment of Jeffrey Guy as President and COO. Jeffrey brings a wealth of leadership experience at technology companies in driving profitable growth and expanding product portfolio. Before Veriff, he was Chief Operating Officer at DigitalOcean, a publicly traded cloud computing platform provider.

GAN Limited announced that Mr. Brian Chang has recently been named the Company’s Chief Financial Officer. Mr. Chang had previously been serving in an interim capacity. Mr. Chang will be focused on guiding the Company towards a timely closing with Sega Sammy Creation Inc. (Sega Sammy).

Partnerships

The Commerce Casino & Hotel, home to the largest poker room in the world, has announced an exciting partnership with the richest, most prestigious and longest-running poker series – the World Series of Poker (WSOP). This collaboration signifies a pivotal moment for the poker community, bringing together two powerhouses to elevate the poker experience for players and fans worldwide.

BetRivers, powered by Rush Street Interactive, a leading US-based online betting and gaming company, has announced its partnership as the title sponsor for the upcoming NASCAR Xfinity Series Dash 4 Cash race at Dover Motor Speedway. The BetRivers 200, set for Saturday, April 27, is being undertaken with the Delaware Lottery and marks the beginning of a thrilling new chapter in NASCAR history, as RSI commits to the long-term support of this top tier sporting event.

Elys BMG Group Inc., an interactive gaming and sports betting technology company, announced the completion of its sportsbook installation at The Ugly Mug restaurant and bar situated at 723 8th St SE, in Washington, DC. This collaboration underscores Elys’ commitment to providing unparalleled sports wagering experiences for small and local businesses across America.

SCCG Management has announced a strategic partnership with mkodo, a leading technology provider in the iGaming space. This collaboration is set to distribute mkodo’s innovative geolocation product, GeoLocs and other leading solutions across the US and key global markets, including Brazil, leveraging SCCG’s robust market presence and industry expertise.

Prove Identity Inc. announced a strategic partnership with BetMGM, a sports betting and iGaming leader, to enhance the security and user experience for BetMGM customers through the cutting-edge Prove Pre-Fill identity solution. Prove Pre-Fill accelerates digital consumer onboarding by up to 79% and is used by more than 1000 businesses globally across diversified industries, including 9 of the top 10 banks.

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Gambling in the USA

Gaming Americas Weekly Roundup – March 25-31

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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

Bragg Gaming Group is now registered as an approved service provider by the Peruvian Ministry of Foreign Trade and Tourism, allowing for the distribution of online casino games, including Bragg’s proprietary and exclusive games portfolio, via the Bragg HUB aggregation platform to operators in the soon-to-be-launched LatAm iGaming market.

PENN Entertainment announced that its Board of Directors has appointed Anuj Dhanda to the Board, subject to customary regulatory approvals. Mr. Dhanda’s appointment expands the size of the Board to ten members, nine of whom satisfy the standards for director independence under the current Listing Rules of the NASDAQ Stock Market.

SlotsCalendar has launched its tailor-made platform for American users: https://www.slotscalendar.us. The brand’s clear aim is to provide a digital environment where impartial and informative content is optimised specifically for the American market.

MGM Resorts International announced that it proposes to offer $750,000,000 in aggregate principal amount of senior notes due 2032. The Company intends to use the net proceeds from the offering of the notes to repay existing indebtedness, including its outstanding 6.750% senior notes due 2025. Pending such use, the Company may invest the net proceeds in short-term interest-bearing accounts, securities, or similar investments.

Genius Sports Limited, the official data, technology and commercial partner that powers the ecosystem connecting sports, betting and media, announced that it has been certified by the State of Wisconsin Division of Gaming as a gaming-related contractor with immediate effect.

Win Systems is going to participate in the next edition of GAT with its exclusive distributor in Colombia, Comercializadora Selan S.A.S. The event will be held in Cartagena de India on April 10–11, and the company’s booth will be A11.

Pragmatic Play is set to make another appearance at a Latin American exhibition, at GAT Expo in Cartagena de Indias, Colombia. The gaming provider will be on stand A31 and A32 to showcase its diverse portfolio, including Slots, Live Casino, Virtual Sports and Bingo content, alongside its new Sportsbook offering.

Partnerships

DraftKings announced an expanded relationship with Kindbridge Behavioural Health to provide access to therapy and treatment for problem gaming in every jurisdiction where DraftKings operates its online sportsbook and iGaming products. DraftKings and Kindbridge originally joined forces in September 2023 to launch a pilot programme to deliver personalised support for sports bettors in Colorado.

The Connecticut Lottery, in partnership with Fanatics Betting and Gaming, the online and retail sports betting subsidiary of Fanatics Holdings, has opened a new retail sportsbook location at Total Mortgage Arena in Bridgeport. The exciting new location is more than 2300 square feet and features betting windows, self-service betting kiosks from Suzohapp and high-definition TVs situated all around the sportsbook.

The Texas Lottery and Texas Motor Speedway have joined together again to rev up luck for lottery players and racing fans through the new LUCKY 7s scratch ticket game. The new $5 game features chances to win a $100,000 top prize and integrates a series of promotional second-chance drawings. The drawings give players with non-winning tickets a chance to win exclusive Texas Motor Speedway prizes.

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