NJ Sports Betting Generates $24 Million In Revenue During First Month Of Football

Posted By Marco Cerino on October 12, 2018

New Jersey sports betting handle and revenue soared in September. The monthly report released by the Division of Gaming Enforcement showed nearly $184 million bet and $24 million in revenue for the books.

Football season fueled the boost in numbers, as the college and NFL season combined for five weekends of action.

This was the first month online sports betting overtook retail locations in New Jersey, both in handle ($104.8 million to $79.1 million) and revenue ($12.6 million to $11.4 million). Overall, the books held 10.3% for completed events in the month.

“Driven by the explosive growth in sports wagering and continuing improvements in Internet gaming and brick-and-mortar casino win results, the gaming industry produced another month of superb revenue increases,” said DGE Director David Rebuck. “The revenue results point to a strong finish for New Jersey’s gaming industry in 2018.”

Overall, September was a good month for New Jersey’s gambling operators. Total Gaming Revenue was up 19.5% from this time last year. Internet Gaming Win jumped 26.3%, while Casino Win rose 7.7%.

Resorts takes the lead

Resorts Digital overtook FanDuel/Meadowlands as the leader in overall revenue for September. Operating both DraftKings and BetStars, the casino took in over $8.5 million online — more than two-thirds of the overall state pool.

FanDuel saw its total number jump to $7.2 million for the month. $4.4 million came from their retail location at the Meadowlands, the highest for a physical venue in the state.

FanDuel released this statement following the revenue announcement:

“As our retail Sportsbook at the New Meadowlands Racetrack grows and with the launch of the FanDuel Sportsbook app, consumer response continued to exceed our expectations in September. We are encouraged to see strong momentum in New Jersey for the newly formed FanDuel Group. In September, we brought in over $175 million in handle and entry fees across all products (Sports Betting, DFS, Horse Racing, and Online Casino). We look forward to continuing this growth by delivering the best experience for customers across the state.”

In Atlantic City, Borgata took the title as highest revenue retail location. The MGM property took in almost $2.4 million in revenue for the month, besting William Hill at Monmouth Park for No. 2 in the state by over $250,000.

Online, second place in revenue went to PlaySugarHouse. The online partnership with Golden Nugget brought in over $619,000 for the book’s first full month of operation. That amount nearly doubled the combined online earnings of the two William Hill locations.

Combined with the near $500,000 collected at the casino’s books, the Golden Nugget finished the month at $1.1 million in revenue, just behind Ocean Resort’s William Hill location, which earned $1.3 between online and retail.

Bally’s Wild West, which operates Caesars Online and 888sport, collected about $400,000 in revenue, mostly at their boardwalk location. Harrah’s, the only retail book without an online presence, earned over $310,000 in revenue.

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