Connect with us

Gambling in the USA

PlayNJ.com: New Jersey sportsbooks slump while online casinos boom

Published

on

PlayNJ.com: New Jersey sportsbooks slump while online casinos boom
Reading Time: 4 minutes

 

New Jersey’s retail and online sportsbooks took in a third of the expected handle in March, while online casinos and poker rooms boomed to unseen heights. In all, New Jersey’s sportsbooks lost out on nearly $370 million in sports wagers in March, according to PlayNJ estimates, while online casino and poker revenue smashed the previous record with $64.8 million in revenue.

“Shutdowns from the coronavirus pandemic are affecting New Jersey’s gaming industry in ways that are unprecedented, and that will continue until the country begins to return to some semblance of normalcy,” said Dustin Gouker, lead analyst for PlayNJ.com. “New Jersey’s online casinos are a boon to the gaming industry, which employs thousands and generates millions in tax revenue for the state. But it’s not enough to fully bridge the gap from the revenue lost from sportsbooks and Atlantic City’s land-based casinos.”

New Jersey’s online and retail sportsbooks appeared to be headed for a month of $550 million in wagers. Instead, sportsbooks collected just $181.9 million in bets, according to official reporting released Wednesday. In an industry that has seen consistent year-over-year growth of 50% or more, March’s handle was down 51% from the $372.5 million handle posted in March 2019 and down 63% from $494.8 million in February 2020. March’s handle, which pushed New Jersey sportsbooks past $7 billion in lifetime wagers, was the smallest since sportsbooks collected $95.6 million in August 2018.

New Jersey sportsbooks did manage to produce $13.2 million in gross revenue, yielding $1.7 million in tax revenue for the state. But revenue was down 58% from $31.7 million in March 2019.

Most came from bets made before March 11, when the NBA suspended its season and sent a wave of cancelations through the sports world. That left bettors with just a handful of international events and futures betting, mostly on the NFL. The most significant loss for bettors was the NCAA Tournament, one of the nation’s most important sports betting holidays, which would have generated more than $150 million in New Jersey alone, according to PlayNJ.com estimates.

“With the NCAA Tournament, NBA, and opening of the baseball season canceled or postponed, the loss of March revenue will not be something that New Jersey sportsbooks can make up,” said Eric Ramsey, an analyst for PlayNJ.com. “Until sports are able to get going again, New Jersey’s online and retail sportsbooks will continue to be uncomfortably quiet.

Online betting generated 89.9%, or $163.4 million, of the state’s handle in March. FanDuel Sportsbook/PointsBet led online sportsbooks with $5.7 million in gross revenue, down from $9.6 million in February. FanDuel was followed in revenue by:

  • Resorts Digital/DraftKings/Fox Bet ($5.1 million, up from $4 million in February).
  • Monmouth/William Hill/Sugarhouse/TheScore ($849,236, down from $1.3 million)
  • BetMGM/Borgata ($609,235, down from $1 million)
  • Ocean Casino/William Hill ($635,620, up from $168,015)
  • Hard Rock/Bet365/Unibet ($167,314, up from $96,397)
  • Golden Nugget/BetAmerica ($143,209, down from $308,997)
  • Caesars Sportsbook/888sport ($44,413, up from $34,183)
  • Tropicana/William Hill ($17,180, down from $30,558)

FanDuel Sportsbook at The Meadowlands led the retail market with $233,360 in gross revenue, down from $1.4 million in February. FanDuel was followed in gross revenue by:

  • Tropicana Casino ($42,081, down from $91,899)
  • Monmouth Park (-$196, up from -$51,888)
  • Bally’s AC (-$6,654, down from $32,199)
  • Golden Nugget (-$10,348, up from -$135,314)
  • Hard Rock AC (-$32,854, down from $19,294)
  • Harrah’s AC (-$39,058, down from $41,649)
  • Ocean Casino (-$68,436, up from -$65,868)
  • Resorts AC (-$93,821, down from $47,143)
  • Borgata (-$122,207, up from -$318,896)

“Professional leagues are trying to figure out a way to get back out on the field, which is the good news,” Gouker said. “The bad news is there is no way to know when that will be, and it doesn’t appear that it will be particularly soon. This is going to be a long road, not just for sportsbooks, but for everybody.”

Online casinos and poker set new records

Online casinos tell a much different story. With Atlantic City casinos closed and workers sent home across the state, New Jersey’s online casinos and poker rooms shattered their previous revenue record by generating $64.8 million in March. That is up 18% from the previous record of $55.1 million set in January, and up 66% from $39.1 million in March 2019.

Poker, which has languished for years in New Jersey, produced $3.6 million in revenue in March, beating the previous record of $3.1 million set in October 2016. Online casino games easily topped their previous best, too, generating $61.2 million to surpass the record $53.3 million produced in January.

Before March, only online market leader Golden Nugget had ever produced more revenue with its online gambling products than its Atlantic City casino in the same month. The Golden Nugget easily did so again with a record-setting $21.3 million in revenue, and the casino brand for Resorts AC ($13.5 million) did so for the first time. Borgata ($12.2 million) led the remaining list of other online casinos that topped previous bests.

“With Atlantic City casinos closed and sports on hiatus, the importance of online gambling and poker to the state’s gaming industry has never been greater,” Ramsey said. “Online casinos can’t sustain the industry forever, but those with the healthiest online products should be in the best position to emerge from these incredible circumstances. And the tax revenue from online casinos is welcome when so much pressure has been put on the state budget.”

Online casinos and poker generated a record $2.1 million per day during the 31 days in March. That revenue yielded $9.7 million in state taxes.

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 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 – May 22-28

Published

on

Reading Time: 2 minutes

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

Tipico Sportsbook announced the launch of “Swing for the Fences,” an MLB contest in which bettors play for a chance to win their share of over $100,000 in monthly prizes. The contest is available to customers in Tipico’s operating states of Ohio, New Jersey, Colorado and Iowa.

Ohio Governor Mike DeWine has nominated Michelle Gillcrist as Director of the Ohio Lottery Commission. Gillcrist was named interim director in April. Prior to her appointment as interim director, Gillcrist served DeWine in various capacities during his tenure as Governor, Ohio Attorney General and United States Senator, most recently as Governor DeWine’s Northern Ohio Regional Liaison and the Governor’s Aerospace and Defense Liaison for Northeast Ohio.

Maverick Gaming announced the launch of its new “Ace’s Poker” room in the city of Mountlake Terrace, Washington. This exciting new poker brand is the first in the state and represents the continuous investment in Maverick Gaming’s strategy to redevelop and connect its properties across its regional footprint.

DoubleDown Interactive, a leading developer and publisher of digital games on mobile and web-based platforms, announced a $10,000 donation to the ASPCA (The American Society for the Prevention of Cruelty to Animals) in support of its mission to provide effective means for the prevention of cruelty to animals throughout the US.

Thunder Valley Casino Resort is going to celebrate its 20th anniversary this June. The casino opened its doors in 2003, and since 2011, has been rated as a AAA Four Diamond award-winning resort.

Partnerships

SimWin Sports, the first AI-driven digital sports league and one of Web3’s most anticipated new gaming platforms, announced its new partnership with The Boston Legends, an ownership group spearheaded by Autograph. The latter is renowned for its co-founder, Tom Brady, an iconic NFL quarterback.

Canadian Elite Basketball League and BetVictor announced a national partnership that will see the international sports book align with the CEBL as its official Sports Betting Partner for the 2023 season as it expands its presence in Ontario and across Canada. The partnership will include a groundbreaking sports betting experience for CEBL fans across its broadcasts and media platforms.

Play.Works, the number one provider of Connected TV games and original TV channels, announced a partnership with Authentic Hendrix LLC and Experience Hendrix LLC to launch casual slots and video trivia games inspired by the lyrics and music of legendary guitarist Jimi Hendrix.

Baha Mar, the leading luxury resort in The Bahamas, and Quick Custom Intelligence announced the successful upgrade to version 5.2 of Quick Custom Intelligence’s Enterprise Platform. Version 5.2 enhances the award-winning QCI Platform with the automation of operational tools that become a central part of the daily management of a gaming facility.

Vegas Stats and Information Network (VSiN) is launching a new 24-hour sports radio format in New Hampshire. VSiN is launching the channel alongside Binnie Media, New Hampshire’s largest locally-owned media company. The new VSiN Radio 106.3 FM HD2 will deliver sports betting programming 24/7 year-round to the more than 1.5 million people Binnie Media reaches each week in New England and beyond.

Continue Reading

Gambling in the USA

Gaming Americas Weekly Roundup – May 15-21

Published

on

Reading Time: 2 minutes

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 announced that Keith Cash, the Company’s Vice President and General Manager of Global Instant Tickets will be inducted into the Lottery Industry Hall of Fame as a member of the Class of 2023. Cash will be honoured later this year at an event hosted by the Public Gaming Research Institute.

Hard Rock International is bringing its unique brand of world-class entertainment to the historic city of Deadwood in the heart of the Black Hills National Forest. The Rocksino by Hard Rock project will celebrate a grand opening on August 8. The Rocksino by Hard Rock Deadwood is a boutique hotel & casino experience, which includes most of what fans of the Hard Rock brand have come to know but on a smaller scale than its famous integrated resorts in gateway international cities.

The online lottery ticket platform Jackpot.com has launched in Ohio, its second US state after it launched in Texas in January. Jackpot.com is also launching with a marketing partnership with one of the country’s premier professional sports franchises, the Cleveland Guardians.

BCLC is enhancing identification requirements at B.C. casinos this summer to support people enrolled in BCLC’s Game Break self-exclusion programme. While players will receive the same friendly, welcoming experience that they are used to when arriving at a B.C. casino, the enhancements will require every individual to present government-issued photo identification for entry.

NOVOMATIC has confirmed its attendance at the upcoming Peru Gaming Show (PGS) 2023 event, set to take place on June 14-15 at the Jockey Exposition Centre in Lima. At stand #53, the company will showcase its latest highlights for the region.

Partnerships

Las Vegas-based, cross-platform global games leader, Light & Wonder, has been selected to bring its portfolio of systems solutions driven by comprehensive technology to Mohegan INSPIRE Entertainment Resort.

Galaxy Gaming has announced that it has signed an agreement with Evolution Group for the licensing of Galaxy table game content across their portfolio of studios. The agreement runs for ten years and strengthens Evolution’s collection of online table games.

Major League Soccer announced that The Game Day, a leading sports betting entertainment website, will provide fans with expert tips on MLS bets and match preview highlights each week on the new Betting Hub on MLSsoccer.com.

IMG ARENA has extended its partnership with Major League Soccer to provide tracking data to MLS NEXT Pro. The extended agreement will see IMG ARENA integrate its deep tech, cloud-based platform to provide player and ball tracking data to MLS NEXT Pro to enhance their player performance analysis.

Appointments

The Board of Directors of the Campo Kumeyaay Nation’s Economic Development Corporation “Muht Hei Inc.” announced the appointment of Michael J. Broderick as the new General Manager of Golden Acorn Casino and Travel Centre.

Industry sales leader Lisa Carmona has joined the JCM Global (JCM) sales team, bringing with her a rich background and deep knowledge of digital signage and its impact on casino gaming customers. Carmona will be based in Las Vegas and will serve JCM customers in the Midwest.

Continue Reading

Gambling in the USA

Gaming Americas Weekly Roundup – May 8-14

Published

on

Reading Time: 2 minutes

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

WarHorse Gaming has announced plans to begin construction on its new gaming facilities in Omaha and continue with the next phase of construction at its Lincoln facility. WarHorse Gaming Omaha will feature roughly 1300 slots and 20 tables games once complete, of which more than 800 will be available when the first phase of the casino opens about a year after the start of construction.

Chasing Poker Greatness has announced that it has officially launched its first live cash poker course known as Live Cash Preflop Bootcamp. Chasing Poker Greatness is a well-known online poker website that publishes poker podcasts, sells online poker courses, offers private poker coaching, produces poker training videos and runs a coaching-for-profit (CFP) poker stable (the CPG Wolves).

ALT Sports Data, the leading source of official and unofficial alternative sports trading data unlocking millions of participatory fans and potential bettors for sportsbook operators, media platforms and event producers, has been named the winner of the third annual Ifrah Pitch Competition.

NorthStar Gaming Holdings Inc. announced it has closed its previously announced acquisition of Slapshot Media, a Canadian iGaming marketing and managed services company that specialises in providing managed services to Spreads.ca, an iGaming site owned and operated by the Abenaki Council of Wolinak.

Paysafe announced the launch of its revamped Skrill digital wallet for online betting in the Canadian province of Ontario. Developed specifically to meet the payment preferences of iGaming players, the upgraded Skrill wallet allows Ontarians to instantly fund wagers and effortlessly cash-out winnings while enjoying a streamlined and intuitive user experience (UX).

Scientific Games Chief Marketing Officer Jennifer Welshons has been named a 2023 Lottery Industry Hall of Fame Inductee, joining an elite group of global professionals. A pioneer in the area of analytics and insights, Welshons will be honored at a ceremony this fall during the North American Association of State and Provincial Lotteries 2023 Annual Conference.

Partnerships

GG.BET has partnered with Brazilian esports streamer Gaules, in doing so securing an official agreement with a broadcast of the BLAST Paris Major. The Ukraine-founded company will become the official betting partner of the Brazilian Portuguese language streams of the BLAST Paris Major, which will be distributed via Gaules’ – real name Alexandre Borba Chiqueta – Twitch channel.

Pragmatic Play has strengthened its foothold in Brazil after signing an agreement with local operator Vem Betar. As part of the deal, Pragmatic Play’s extensive portfolio of Slots, Live Casino and Virtual Sports content will be available to Vem Betar’s player base.

DraftKings Inc. announced the launch of the DraftKings Network on Samsung TV Plus, Samsung’s free ad-supported TV service (FAST), the first FAST service with DraftKings Network that also delivers over 250 live channels in the US and thousands of shows and movies on demand to millions of Samsung Smart TVs Galaxy devices, Family Hub appliances and on the web.

Liga FUTVE, the top-flight professional football league of Venezuela, announced that Stats Perform, the sports tech leader in data and AI, will be the competition’s official data partner for the next three years.

Continue Reading
Advertisement

GambleDex

Trending

Get it on Google Play

European Gaming Media and Events is a leading media and boutique event organizer in the European Union with a monthly reach of +110,000 readers. The official company (PROSHIRT SRL), has been listed for 4 years in a row among the top 3 Advertising and market research agencies in the local Top Business Romania Microcompanies based on the Financial Reports.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2022 European Gaming Media and Events. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.