Sports Betting Handle Dips, But New Jersey Gaming Revenue Stays Flat In February

Gross gaming income within the Garden State remained flat year-over-year in February as operators reported successful a mixed $288.3 million from the state’s gamblers, in line with numbers reported by the Division of Gaming Enforcement.

Those figures are almost an identical to the $287.3 million operators received in February 2020, up simply 0.3%. Once once more, it was the web gaming income that paced the market with $93.8 million in income. Online numbers had been up 80.4% in comparison with the $52 million received from gamblers a 12 months earlier.

In January, on-line playing made up one-third of the whole gaming income because the state noticed a 15.3% enhance year-over-year.

Sports betting income was up a whopping 171.8% year-over-year as books received $46.2 million. Sportsbooks earned that sum after dealing with $742.9 million in sports activities bets, which was good for a 6% maintain price. Even within the sports activities betting world, on-line has taken over with $689.2 million of the whole deal with wagered by means of a web-based or cell platform. Year-to-date, gamblers have guess $1.7 billion on sporting occasions with $1.575 billion of that coming on-line.

DraftKings was essentially the most profitable sportsbook in New Jersey with a $27.2 million in income. The firm has a brick-and-mortar sportsbook on the Meadowlands Racetrack however does most of its enterprise on-line.

Despite the Super Bowl happening in February, there was a large dip within the sports activities betting deal with from the prior month. In January, the whole quantity of sports activities bets accepted in New Jersey almost eclipsed the $1 billion mark. February’s deal with was down $253 million from the primary month of 2021.

Atlantic City’s brick-and-mortar market continued to battle in a post-COVID-19 world as stay on line casino income was down 32.1% with the 9 casinos combining to win $148.2 million.

Borgata was as soon as once more the highest-grossing on line casino within the state with $36.95 million in income. It held the highest spot, however these numbers represented a 35.8% drop from its numbers a 12 months in the past. Every different on line casino within the metropolis additionally posted a year-over-year decline. Those numbers might begin seeing an uptick quickly as Gov. Phil Murphy introduced a soothing of COVID-19-induced restrictions final week.

Golden Nugget noticed the most important proportion drop with $8.8 million in income, good for a forty five.6% dip in on line casino income. Hard Rock Atlantic City was the closest property to report a rise with only a 1.7% fall from final 12 months with $23.6 million.

However, Golden Nugget Online Gaming, a spin-off from Tilman Fertitta’s brick-and-mortar enterprise, was essentially the most profitable on-line on line casino within the state with $27.9 million. It edged out Borgata’s digital platform, which pulled in $25.7 million.

Through the primary two months of the 12 months, whole gaming income is up $634.4 million in comparison with $587.8 million in 2020. The distinction comes from the breakdown of that income with stay on line casino income down 24.8% and web gaming income up 84.5% over the identical timeframe.