New Jersey Sees Gambling Revenue Grow 24% in August

The New Jersey Division of Gaming Enforcement has reported a 24.1% improve in total gaming gaming revenue for the month of August, such as a $9.2m contribution from sports betting.

Total gaming revenue grew to $303.9m, which integrated the second full-month contribution from sports betting, which was legalised on June 11th then launched 3 days later.

Casino win accounted for the majority of this sum with the state’s 11 land-based casinos reporting a 20.7% year-on-year increase in revenue to $269.9m. Slot machines were the most well-liked product in the casinos, contributing $196.4m from the total, having a additional $73.6m coming from table games.

The Borgata Casino Hotel and Spa was probably the most well-liked land-based venue, with its casino income up 0.7 per cent from August 2017, to $70.9m. Tropicana Atlantic City saw casino win decline four.3% year-on-year, but remained second in terms of revenue, generating $32.2m. Despite reporting a 3% drop in income to $31.3m for the month, Harrah’s Atlantic City took third location.

Meanwhile total web gaming income for August was up 16.6% on the previous year at $24.8m.

Clients continue to prefer casino games to on-line poker. Poker (or peer-to-peer games) income was down 12.8% to $1.8m for the month, while income from online casino jumped 19.8% to $23.0m.

Golden Nugget Atlantic City has emerged as the clear market leader in iGaming, and consolidated its position additional in August with a 57% year-on-year increase in income to $8.2m. Its closest challenger, the Borgata, saw web gaming income increase 8.4% to $4.7m, while Resorts Digital reported a 14.3% jump in revenue to $4.0m.

Atlantic City’s newest casinos, Difficult Rock and Ocean Resort, generated iGaming income of $481,803 and $385,802 respectively.

Finally, sports wagering, such as the very first contributions from online and mobile wagering, contributed $9.2m towards the state’s total gaming revenue for August. Of the $9.2m, $5.2m came from casino operators which have launched sports wagering, using the other $4.0m coming in the state’s licensed racetracks, Meadowlands and Monmouth Park.

The FanDuel-powered Monmouth Park offering remains the market-leader with income of $3.1m, followed by Resorts Digital, which has partnered DraftKings and contributed $3.0m towards the total. Resorts’ SBTech-powered land-based sports betting business generated an additional $98,087. DraftKings was the very first to launch online sports betting on August 1st, and it was not until MGM followed on August 22nd that an additional operator entered the channel, quickly followed by SugarHouse each day later.

This indicates on-line wagering is set to grow further, each because of much more brands launching online and also the start from the National Football League (NFL) season in September.

Monmouth Park, which is partnered with William Hill and took the state’s first legal bets in June, generated income of 898,017.

Total gaming taxes for August were $23.8m. This included 8% of taxable casino gross revenue at $19.2m, followed by 15% of web gaming gross revenue of $3.7m. A further $515,676 was paid, representing 8.5% on casino and racetrack sports betting gross income, with the 13% tax on on-line sports betting gross income contributing a further $406,026.

For the year to date, total gaming revenue is up 3.5 per cent on 2017 at $1.87bn. Casino income accounts for $1.66bn from the total, followed by $190.2m from online gaming. Sports betting has generated revenue of $16.5m since its launch in June.

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