New Jersey’s sports betting market has enjoyed its strongest month since launch, with amounts wagered more than doubling year-on-year and revenue climbing to a record $37.9m in September.
Total handle for September leapt 142.2% from September 2018 to $445.6m, suggesting the vertical benefitted significantly from the start of the National Football League season on September 5. The majority was staked online, with the channel accounting for $374.2m, or 84.0%, of the market total, compared to $71.3m from retail.
For the year to date players have wagered $2.97bn, of which $2.44bn (82.1%) was spent online, according to the latest figures from the state Division of Gaming Enforcement.
In terms of revenue by licensee, Meadowlands and its sub-licensees FanDuel and PointsBet led the way in September. The racetrack accounted for $16.9m of the market total, a 134.2% year-on-year increase.
Resorts Digital, partnered with DraftKings and The Stars Group’s Fox Bet joint venture, came second, with its monthly revenue of $10.7m representing a 26.0% improvement on the prior year’s figure.
Monmouth Park, which works with William Hill, came in third with revenue of $3.4m, up 52.2% from the prior year. Ocean Resort, another William Hill partner, followed closely behind after revenue more than doubled to $3.1m.
September also saw a trio of operators report significant year-on-year drops in sports wagering revenue, with Harrah’s the biggest faller. The Caesars Entertainment-owned venue saw revenue drop 62.0% to $118,102, while Golden Nugget’s monthly total fell 56.4% to $487,438.
The Borgata, meanwhile, saw revenue decline 41.2% to $1.5m, in the same month that the GVC-MGM joint venture Roar Digital rolled out its new BetMGM app in the state.
New Jersey’s online gaming market also enjoyed a particularly strong month, with revenue up 59.7% to $41.1m. Golden Nugget continues to lead the market, and to grow rapidly, with its monthly total of $15.6m a 68.5% increase from the prior year.
Resorts Digital, under whose license The Stars Group operates, continues in second place, with revenue leaping 160.3% to $8.9m. The Borgata, in third, also enjoyed strong year-on-year growth, with its September total up 52.5% to $7.0m.
For the nine months to September 30, New Jersey’s online casino revenue is up 57.0% at $339.0m.
The strong performance of the igaming and sports betting verticals offset a weaker month for land-based gaming. Total revenue declined 3.2% to $224.5m. The Borgata rules the roost in the land-based market, with revenue of $57.4m, with Hard Rock’s $29.6m (up 14.1% year-on-year) pushing it into second place.