New Jersey reports first month of sports betting ops
July’s financial results in New Jersey include the first full month of sports betting operations.
US.- The Supreme Court decided to lift the federal ban on sports betting in May, but New Jersey started its operations in mid-June, reporting US$3.46 in just two weeks. July marked the first full month of operations, in which operators totalled US$3.83 million.
Casinos in racetracks in the state are eligible to apply for a sports betting licence, subject to the approval of state regulators. Meadowlands was the revenue top scorer as it reached the US$1.36 million mark, while Ocean Resort, which reached a deal with William Hill to operate its sportsbook, totalled US$1.04 million. Monmouth Park, also under William Hill’s site, took in US$856k, MGM Borgata took in US$562k and Bally’s collected US$17.7k, but only offered bets on sports for two days.
Last week, executive director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at Stockton University Rummy Pandit said that sports betting is going to drive additional traffic into the city. “Online sports betting will not just drive sports betting revenue, it’s going to drive revenue to brick-and-mortars through rooms, food and beverage, entertainment and shows,” he said.
