The sports betting and iGaming market for New Jersey closed in 2020 with an overwhelming record. The New Jersey Division of Gaming Enforcement released figures on Wednesday. The licensed online casino and the online poker operators generated combined revenue of $99.45mn in December. This was nearly double than December 2019 and $7.65 more than November 2020.
The online casino set the record of 102.6% of revenue up to $96.43mn. Online poker generated revenue of over $3mn, up by nearly three-quarters on a year-on-year basis.
For the entire 2020, the revenue came very close to the $1bn marks. The online casino rose by 101.7% to $931.5mn and online poker had a growth of 85.3% to $38.8mn.
For December, the Golden Nugget’s online casino was the top performer and generated $29.4mn and generated $318.8mn for 2020. The land-based gaming revenue totaled $95mn last year, a drop of 52.2%. The Atlantic City’s Casino spent most of the year either shut or operated under the reduced capacity.
Borgata generated $27.15mn that includes its own brand, BetMGM, Party Poker, and Pala Casino. It also generated $1mn in poker. The Borg’s FY20 iGaming tally gained 168% this year to $208.2mn.
Resorts Digital Gaming, the home of Draft Kings, Flutter Entertainment’s FoxBet brand, and Resorts’ in-house brand generated revenue of $208.4mn. In December, it managed to generate $21mn.
The Caesars Interactive Entertainment generated $9.8mn from the casino and $1.17mn casino. The FY20 total stands at $94.8mn.
The casino only site of Tropicana generated $6mn in December. The FY20 total is $70.1mn. The Hard Rock AC has earned $5.8mn in December and $59.6mn for FY20. The Ocean Casino generated $1.1mn in December, $10.3mn in the year.
The sports betting wagering has also been phenomenal for New Jersey. It generated $929.3mn from online wagering. The December betting revenue recorded $66.4mn, up by 125.6%.
The total betting handle for the total year is $6bn, up from $4.6bn in 2019. The total online handle in FY20 was $5.53bn, representing 92% of overall wagering.
The total contribution to combined betting and iGaming for 2020 is nearly $1.4bn. The FanDuel/Meadowlands amassed revenue of $33.2mn. The DraftKings / Resort Digital generated $15.4mn. The BetMGM/Borgata generated.
The FY20 betting revenue totals $206.5mn and DraftKings/Resorts generated just under $101mn, while BetMGM reported $31.5mn.
New Jersey has set an example for the other states for online casinos.
Inspirational Link: https://calvinayre.com/2021/01/13/business/new-jersey-igaming-sports-betting-records-december-fy20/
