Land-based casinos, online gambling and sports betting helped New Jersey achieve impressive numbers in October.
US.- October 2019 was a month in which the gambling industry in New Jersey experienced great results. The online gaming, sports betting and land-based segments posted strong gains during last month’s operations. With October results in, this is the 17th consecutive month in which Atlantic City registers increases in total gaming revenue.
The New Jersey Division of Gaming Enforcement (DGE) has released the latest figures, which indicate that total gaming revenue for the nine Atlantic City casinos rose 13.6% in October. Year-to-date results indicate that Atlantic City casinos have achieved US$2.73 billion in total gaming revenue so far.
The state could reach the US$3 billion mark by the end of the year, a milestone that hasn’t happened since 2012 when there were 12 casinos in the city but online gaming and sports betting weren’t legalised.
Sportsbooks in the state nearly hit US$500 million in October, mainly with the help of the start of the new NBA season. New Jersey’s sportsbooks registered a record US$487.9 million in bets last month, which is an 87% increase from the US$260.7 million that the state had registered during the same period a year ago. In terms of revenue, the state generated US$46.4 million, up from the US$11.7 million in October 2018.
The online casino segment in the state also achieved great results in October, with Golden Nugget’s iGaming vertical topping the land-based sector. Online gambling generated US$45.2 million in New Jersey, representing a 69% increase from the US$26.8 million in October 2018.
Golden Nugget’s online casino games generated US$16.6 million in October, which is a 71% rise year-on-year. It contributed over a third of the revenue in New Jersey’s online gambling market in October. On the other hand, the company’s land-based vertical’s win declined by 9.6% to US$14.7 million.
“What the Golden Nugget continues to prove is that its online casino can generate millions in revenue and grow at an overwhelming pace without a negative impact on their own land-based operations,” said Eric Ramsey, online gambling analyst for PlayNJ.com. “When the first online casinos launched in 2013, many thought such a dynamic would be impossible. But clearly that has been proven wrong.”