ATLANTIC CITY, N.J. — Web playing and sports activities betting set new information in New Jersey in November because the Atlantic Metropolis playing market continues to evolve and develop into much less depending on bodily casinos, in line with figures launched Friday.
Greater than $171.5 million was received from on-line desk video games and slots by casinos and their know-how companions, in line with the New Jersey Division of Gaming Enforcement.
On the identical time, the casinos and three horse tracks that settle for sports activities bets took in $1.62 billion value of bets in November — one other file.
Taken collectively, these numbers present contemporary proof that know-how and a wider menu of wagering choices are remaking the way in which some individuals gamble in New Jersey, the place in-person playing at a bodily on line casino had lengthy been the principle strategy to wager.
Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton College, which research the Atlantic Metropolis playing business, famous that web and sports activities betting accounted for about 45% of Atlantic Metropolis’s income in November.
However she views it as complementary to in-person casinos as a substitute of competing with them.
“Somewhat than diminishing the brick-and-mortar gaming revenues, web gaming and sports activities betting appear to be well-received shopper merchandise which might be filling a distinct segment for sure gamblers,” she stated. “There’ll by no means be a alternative for the in-person gaming expertise, and the present comparatively flat revenues from brick-and-mortar gaming could also be merely proof of a steady market.”
She stated it stays to be seen how the surge in on-line and sports activities betting have an effect on the casinos’ general profitability. These income streams have to be shared with companions like sports activities books and tech platforms and are usually not solely for the casinos to maintain. That’s largely why the casinos take into account cash received from in-person gamblers to be their key enterprise.
And that key enterprise continues to lag behind pre-pandemic ranges. Of the 9 casinos in New Jersey, solely Onerous Rock and the Ocean On line casino resort received extra from in-person gamblers in November of this 12 months than they did in November 2019, earlier than the pandemic broke out.
When all the cash received in-person, on-line and from sports activities betting by the casinos and three racetracks is mixed, the whole quantity received in November was $482.4 million — a rise of 9.4% from a 12 months earlier.
The Golden Nugget, which has lengthy had a sturdy on-line playing operation, received over $50 million from web on line casino video games in November, up practically 33% from a 12 months earlier. Different large on-line winners included Resorts Digital, the web arm of Resorts On line casino, which received $47.2 million, up over 26%, and the Borgata, which received practically $38 million on-line, down 14.4%.
When it comes to general playing income, together with web and sports activities betting, the market-leading Borgata received over $97 million in November, down 8.6% from a 12 months earlier; Golden Nugget received $61 million, up practically 25%; Onerous Rock received $52.4 million, up over 26%; Ocean received $36.7 million, up 5.7%; Tropicana received $28.5 million, up 8.2%; Harrah’s received $20 million, down 2.3%; Bally’s received $19.7 million, up over 29%; Caesars received practically $17.9 million, down 6.6%; and Resorts received $12.4 million, a rise of just below 1%.
When taking a look at simply the cash received from in-person gamblers solely, Borgata received $51.6 million, down 6.1%; Onerous Rock received $41.4 million, up 16.7%; Ocean received $31.4 million, up 1.4%; Harrah’s received $19.4 million, down 7.6%; Tropicana received $17.8 million, down 6.8%; Caesars received $17.5 million, down 7.7%; Resorts received practically $12.5 million, down 0.2%; Bally’s received $12 million, up 20.4%; and Golden Nugget received $11 million, down practically 3%.
The whole amount of cash wager on sports activities, generally known as “deal with,” reached a brand new excessive in November as nicely. However of the $1.62 billion value of bets taken by the casinos and tracks, solely $96 million was stored as income after paying out profitable bets and different bills.
The Meadowlands Racetrack in East Rutherford, simply exterior New York Metropolis and identified for internet hosting a FanDuel sports activities guide, received over half of that, at $57.6 million. Resorts Digital, with an affiliation with DraftKings, received over $19 million from sports activities betting.
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Observe Wayne Parry on X, previously Twitter, at www.twitter.com/WayneParryAC