New Jersey hits first $1 billion monthly in sports betting

Atlantic City, NJ (AP) — In September, New Jersey’s sports betting industry became the first in the United States to accept more than $1 billion in bets in a single month. Decisively it’s their phone, according to figures released Monday.

Figures from the New Jersey Bureau of Gaming Enforcement show that nine Atlantic City casinos and three racetracks with sports betting totaled $1.01 billion worth of sports betting last month, with both state and national new I set a monthly record.

Of that huge sum, known as ‘handles’, more than $82 million was kept by casinos, recorded as earnings after bets were won, and paid for other expenses. The Meadowlands Racetrack in East Rutherford, near New York City, makes up half of that.

“New Jersey has always been a strong gaming market,” said Casey Clark, senior vice president of the American Gaming Association, the casino industry’s national trade body. “Crossing the $1 billion mark in September is an impressive indicator of the appetite of New Jerseyans and Americans across the country who have embraced legal and regulated sports betting.”

September was a good month for the New Jersey gambling industry as a whole, with total casino, internet and sports wagering revenues up more than 40% year-over-year to $453.5 million.

New Jersey won the U.S. Supreme Court in 2018, allowing all 50 states to offer legal sports betting, and more than half of the nations now allow it.

Since then, New Jersey has been near or at the top of the sports betting industry in the nation. New Jersey, who recorded her $996 million in sports bets in December 2020, also set the previous national record for the most money wagered on sports in a single month.

In the first nine months of the year, New Jersey sportsbooks accepted over $7 billion in bets.

“New Jersey has benefited from being an early adopter of sports betting,” said Jane Boknewitz, director of Stockton University’s Lloyd Levenson Institute, which studies the gambling industry. By making sports betting more accessible than Nevada, New Jersey now hits the significant milestone of betting more than $1 billion on sports a month.”

Casinos are also pleased with September’s performance. In-person casino revenue increased more than 30% year-on-year to $248.5 million, while Internet gambling increased his nearly 40% to $122.5 million.

Borgata, a longtime market leader in Atlantic City, won over $111 million from gamblers in September. The next closest competitor is Hard Rock, up nearly 36% at $48.6 million.

Tropicana earned $34.8 million, up 33%. Ocean Casino Resort earned $32.1 million, an increase of 8.5%. Harrah’s increased 42.5% to $27.8 million, while Caesars increased 14% to $21.6 million.

The resort won $17.7 million, more than 27%. Bally’s earned him $14.5 million, up nearly 13% from when it was another owner last year. The Golden Nugget earned him $13.1 million, up nearly 15% from a year ago.

Among internet-only entities, Resorts Digital earned $41.5 million, up nearly 68%. Golden Nugget Online Gaming earned around $31 million, up 18%, while Caesars Interactive NJ earned his $10.1 million, up 22%.


Follow Wayne Parry on Twitter at @WayneParryAC.

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