NJ shatters its personal sports activities betting file: $748M guess in September

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ATLANTIC CITY, NJ – New Jersey’s fast-growing sports betting market broke its own national record in September, taking in more than $ 748 million in bets from sports players who were finally able to bet on football during the coronavirus outbreak.

Figures released Thursday by the New Jersey Division of Gaming Enforcement show that Atlantic City’s nine casinos and three horse racing tracks that offer sports betting are processing bets worth over $ 748 million, the national monthly record of Significantly surpassing US $ 668 million bet on sports in August.

Both numbers slightly exceeded the US record of $ 614 million set in Nevada in November 2019.

So far this year alone, casinos and tracks in New Jersey have completed sports betting worth nearly $ 3.3 billion. That equates or exceeds what Atlantic City did to casino gambling in an entire year before sports betting was legalized.

New Jersey won a case in the U.S. Supreme Court in 2018 where all 50 states can offer legal sports betting if they so choose. It quickly dominated the east coast market, challenging Nevada for national leadership.

The $ 748 million includes the total amount of bets accepted by the casinos and tracks. After paying off the bets and expenses they won, they kept $ 45 million off.

Including casino games, the New Jersey gambling industry won $ 323.2 million in September. This is an increase of 6.5% over the previous year when there was no pandemic and the casinos were at full capacity. Casinos are currently busy to 25% as a precaution to prevent the spread of the coronavirus.

The Borgata won $ 64 million in September, down 2.8% from a year earlier. Golden Nugget won $ 37.5 million, up 16.3%; Hard Rock won $ 35.8 million, up 12.5%, and Ocean Casino Resort won $ 29.5 million, up nearly 22%.

The Tropicana won $ 26.1 million, a decrease of nearly 10%. Harrah’s gained $ 19.5 million, down 26.6%, and Caesars gained 18.9%, down 1.8%.

Resorts gained 13.9%, down 7.5%; and Bally’s gained 12.9%, down 15.6%.

Ocean Casino saw the largest percentage increase in revenue in September in Atlantic City, and CEO Terry Glebocki said this was due to several factors.

“The combination of Labor Day weekend and the return of indoor dining capped at 25% gave us an opportunity in September to continue the momentum created here at Ocean,” she said. “Our guests enjoyed dining in their favorite restaurants again. Our casino resort and our sales growth of almost 27% compared to the previous year show the success we have achieved.”

James Plousis, chairman of the New Jersey Casino Control Commission, was encouraged by the pace of the recovery in casino gambling revenues.

“Casino earnings were 85 percent of last September’s performance, helped by the reopening of casino restaurants on September 4th and the resumption of food and beverage service on the casino floors,” he said. “These results have been encouraging amid ongoing travel warnings reducing out-of-state visits and capacity, equipment and entertainment restrictions that have not made 2020 adequately comparable to last year.”

Internet gaming revenue was $ 87.6 million in September, up 113% from $ 41.1 million in September 2019.

The Freehold Raceway began in-person betting on September 24, making it the third horse racing track in the New Jersey sports betting market. It has not yet been approved for mobile sports betting and posted a loss of nearly $ 45,000 in the last week of the month.

Meadowlands Racetrack in East Rutherford near New York City continued to dominate sports betting in the state, generating $ 28.1 million in revenue for September. Monmouth Park in Oceanport, about 18 miles east of Freehold near the Jersey Shore, made nearly $ 3.5 million.

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