New Jersey in the News — Weekly Round-up for November 23, 2018

Kambi Powers Draftkings New Jersey

Launch to be closely followed by similar in Pennsylvania

B2B Sportsbook provider Kambi will make its US brick and mortar debut with DraftKings at New Jersey’s Resorts Casino this week, followed by further launches on both sides of the Atlantic.

DraftKings Sportsbook at Resorts will feature a dozen betting kiosks, five over-the-counter points of sale and customised digital signage.

The launch will be followed by Kambi’s debut in Pennsylvania, with Kambi ready to install its on-property Sportsbook across three major casinos in the Keystone State.

Max Meltzer, chief commercial officer:

“We’re very excited about bringing our high-quality Sportsbook to brick and mortar establishments in the US, where operators are recognising the excellence of our on-property product, both from a technology and player experience perspective.

“In recent years, Kambi has invested heavily in developing a land-based solution that is on par with our online Sportsbook and, as a result, we now have the most advanced product on the market, not just in the US, but globally.

“This is one of the key reasons why the likes of DraftKings, Rush Street Interactive and Parx Casino have chosen to offer our on-property product and why we are quickly becoming the number one choice for online and on-property sportsbooks on both sides of the Atlantic.”

New Records For New Jersey Online Gambling In October

Online market shows no sign of slowing in a profitable October

The New Jersey Division of Gaming Enforcement released its October online gambling stats Thursday, reporting more record performances at industry and company level as the market shows little sign of slowing.

Online gambling licensees generated revenue up over 30 percent y-o-y at $26.75 million last month, setting a new record over the previous $25.9 million recorded in July this year.

Online casino revenues rose 34.7 percent to $25.1 million, although online poker continued to disappoint, declining 14.5 percent y-o-y at just $1.65 million.

On a YTD basis, overall revenue is up 19 percent y-o-y at $242.75 million. Online casino revenues so far this year are now up over 20 percent at $224.7 million, but online poker has languished 12 percent at $18.1 million.

At the company level, Golden Nugget continued to be the market leader in October, setting a new company record by delivering revenue of 9.67 million (previous record $9.33 million in July this year) That’s an improvement over the same period last year of $3.5 million.

Borgata was the closest rival, reporting revenue of $4.36 million, and Caesars Interactive Entertainment (CIE) trailed at third with $3.9 million.

Tropicana took the fourth placing in revenue terms, reporting $3.7 million in October, and Resorts Digital-PokerStars posted $3.5 million.

As previously reported by InfoPowa, newcomer Hard Rock boasted that after just four months in operation it achieved revenue of $1 million – a 50 percent improvement on its preceding September 2018 month. Finally, Ocean Resort online revenue rose to $595,000.

The much smaller and less populous state of Delaware, by comparison, reported October online revenue up just 8 percent y-o-y at $226,489 in October.