New Jersey in the News — Weekly Round-up for December 14, 2018

New Jersey Online Gambling Sets A New Record In November

30.7 percent improvement in revenues compared to 2017

Online gambling revenues continued to soar in New Jersey in November, with online casino revenues the star performer according to figures released Thursday by the regulator.

The New Jersey Division of Gaming Enforcement (DGE) reported online gambling revenue up 30.7 percent y-o-y at $26.94 million, a marginal increase on the previous monthly record of $26.75 million recorded in October this year.

Once again the star performer was the online casino vertical, which delivered revenue up 35 percent y-o-y at $25.4 million, bringing YTD figures for the vertical to $250 million – a rise of 23.5 percent year-on-year.

Marker leader was again Golden Nugget with revenue up 48.7 percent to $9.2 million, with Borgata again chasing on $4.8 million; Caesars Interactive New Jersey third with $3.9 million; Resorts Digital -Pokerstars fourth on $3.6 million; Tropicana fifth on $3.4 million and newcomers Hard Rock Casino Atlantic City ($1.3 million) and Ocean Resort Casino ($732,000) bringing up the rear.

Both Hard Rock Casino Atlantic City and Ocean Resort Casino reported improvements over last month’s revenue growth of 29 and 23 percent respectively.

The online poker vertical again disappointed, reaching a record low of $1.56 million, 13.7 percent lower than November 2017’s revenue and lower than September 2018’s $1.6 million – the previous worst month for the vertical.

On the sports betting front, New Jersey also enjoyed a productive and profitable November, reporting total revenue for the vertical almost double to $21.2 million. Total revenue climbed 81 percent month-on-month following a 27 percent increase in amounts wagered to $330.7 million, largely driven by betting online and via mobile devices, which accounted for $238.6 million, or 72 percent of the total.

$1.9 million was paid in online wagering taxes, with the land-based channel generating an additional $577,805 for the month.

For the year to date the sports betting vertical has generated revenue of $73.2 million, with total amounts wagered on sports growing to $928.1 million this year.

Resorts Digital is the largest single source of sports betting revenue, accounting for $7.2 million of the monthly total, followed by Meadowlands Racetrack which contributed $7 million.

The New Jersey market as a whole, including online and land-based betting and gaming, saw total revenue grow 24.7 percent year-on-year to $257.4 million in November.

Aussie Firm’s Partnership With New Jersey Betting Company Approved

Pointsbet online sports betting deal with Mesdowlands racvetrack approved by the DGE

The New Jersey Division for Gambling Enforcement (DGE) has given its approval for the online sports betting partnership of Meadowlands race track with the Australian online company Pointsbet.

The DGE approval marks the fruition of a deal agreed back in July this year (see previous InfoPowa report) and gives Meadowlands a second betting skin (it is permitted to have three), augmenting an earlier partnership with Paddy Power Betfair’s US-facing FanDuel brand.