New records and more growth are the themes of 2019 when it comes to New Jersey’s sportsbooks and online casinos.
The state’s retail and online sportsbooks when combined with online casinos and poker generated nearly $800 million in revenue last year, resulting in the state’s annual handle reaching approximately $4.5 billion and “sending New Jersey into 2020 with plenty of momentum,” according to PlayNJ.com analysts.
“Online sports betting and casino gambling should continue on or near its current growth trajectory in 2020,” Dustin Gouker, lead analyst for PlayNJ.com, said. “Online growth will continue to be a net win for New Jersey’s gaming industry.”
The state’s sportsbooks for December (collected $557.8 million in bets) was short by $4.4 million when compared to November’s $562.2 million handle, according to official reporting released Wednesday. However, December 2019’s handle was up 74.4% from $319.2 million in December 2018.
December’s revenue hit $29.4 million, down from $32.9 million in November and up 41.4% from $20.8 million won in December 2018. For 2019, the sportsbooks combined to generate revenues of $229.4 million, yielding $36.5 million in state taxes.
“2019 could very well go down as the last year that New Jersey was eclipsed by Nevada,” Eric Ramsey, analyst for PlayNJ.com, said. “From its proximity to the New York market to its pioneering online sports betting infrastructure, New Jersey’s positives as a sports betting market will continue to fuel its growth.”
Online casinos, poker and sports betting
As the year closed, the state’s online casino and online sports betting sites cemented the most profitable year in online gambling, according to BonusSeeker.com.
Based on December revenue numbers released by the New Jersey Division of Gaming Enforcement, online gambling in the state combined for $74.83 million in revenue, a slight drop from November’s $82 million.
“There was a small slowdown in December with the holidays, but there could be a modest bump with the NFL playoffs in full swing. These trends aren’t a surprise, since the ebbs and flows fall in line with the holiday season and what sporting events are currently going on in the world. I look forward to see how the next few months go as the sports betting market continues to mature.” Rich Migliorisi, managing editor at BonusSeeker.com, said.
Other highlights from the report include:
- Total sports wagering revenue for 2019 was $299.4 million, compared to $94 million in 2018;
- Combined, online gambling took in $782.1 million in 2019 compared to $392.7 in 2018.
The state’s online casino and poker industry almost surpassed $50 million in monthly revenue for the first time this December, PlayNJ.com said. It generated a record $49.3 million in the month, a slight increase over the $49.1 million pull in November and up 70% from $29 million in December 2018. For the year, it generated a record $482.7 million, up 61.6% from $298.7 million in 2018.
“Online casino gambling has clearly become one of the biggest winners from online sports betting,” Ramsey said. “In a highly competitive market such as online casino gambling, the cross-selling of online gambling products has successfully kept customers playing.”
Online betting generated $448.9 million, or 87.6% of the state’s handle, in December, up from 86.5% in November.
Here is the full breakdown for New Jersey online casino revenue in December:
- Golden Nugget: $17.29 million;
- Resorts: $11.38 million;
- Borgata: $8.78 million;
- Caesars: $3.76 million;
- Ocean Resort: $0.103 million;
- Hard Rock: $2.22 million;
- Tropicana: $4.07 million;
- Total: $47.6 million.
New Jersey online poker revenue in December:
- Resorts: $.570 million;
- Borgata: $.455 million;
- Caesars: $.709 million;
- Total: $1.73 million.
Combined New Jersey online casino and New Jersey online poker revenue in December:
- Golden Nugget: $18.93 million;
- Resorts: $10.99 million;
- Borgata: $8.22 million;
- Caesars: $4.60 million;
- Ocean Resort: $0.543 million;
- Hard Rock: $1.81 million;
- Tropicana: $3.88 million;
- Total: $49.33 million.
New Jersey sports betting online revenue in December:
- Bally: .064 million;
- Borgata: .995 million;
- Golden Nugget: .103 million;
- Hard Rock: -.294 million;
- Ocean: 1.23 million;
- Resorts Digital Gaming: 9.3 million;
- Tropicana: .032 million;
- Meadowlands: 12.1 million;
- Monmouth: 1.94 million;
- Total: 25.491 million.