New Jersey sports betting handle up by 40% year-on-year in January

In January 2020, New Jersey’s sportsbooks made the most since the state formally rolled out sports betting in June 2018, according to gaming officials.

Data released Wednesday from the Division of Gaming Enforcement showed the state’s two racetracks and nine casinos took home $53.6 million, out of the $540 million that patrons bet last month. Gross revenue was up 185% from January 2019, while handle fell only 3.2% from December but climbed by 40% year-over-year. 

It marks the third straight month in which the state has generated more than half a billion in handle. Sports-betting has ultimately been a cash cow for the gambler, with the second-highest month being October 2019, when the house took home just over $46 million.

“Guests who came to wager on sports events took the opportunity to explore Atlantic City’s abundant gaming and non-gaming options,” Casino Control Commission Chairman James Plousis assured, in written remarks on Wednesday.

“Casino executives I’ve spoken with were very pleased that customers stayed longer to enjoy the city’s diverse dining and entertainment offerings,” Plousis added. “Making investments that lead to positive customer experiences can provide a strong competitive advantage for Atlantic City.”

New Jersey has 10 in-person sportsbooks and 19 online and mobile sportsbooks. Mobile remained a crucial piece of the sports betting experience as online accounted for 87% of all handle. That’s down slightly from 88% in December.

Meadowlands, which offers sports betting through FanDuel Sportsbook and PointsBet, led the state with $26.5 million. Resorts Digital, which includes DraftKings Sportsbook and Fox Bet, came second with $15.9 million.

Only three other licensees topped the $1 million mark for revenue in January: Monmouth Park, which includes operations from Rush Street Interactive, theScore Bet and William Hill, with $3.7 million; Borgata, which includes operations from BetMGM, with $3.2 million; Ocean, which includes operations from William Hill, with $2.3 million.

New Jersey’s sportsbooks lost $4.2 million during Super Bowl LIV on Feb. 2, according to DGE preliminary numbers, released days after the event, marking the second year in a row that the house lost money.

Atlantic City

Atlantic City casino industry started the new year extending its streak of gaming revenue increases to 20 consecutive months in January. Total gaming revenue reported by the city's nine casinos was more than $270.5 million last month, a nearly $50 million increase, or 22.6%, over January 2019, according to data released Wednesday by the state Division of Gaming Enforcement. 

"2020 is off to a promising start for Atlantic City," said Steve Callender, president of the Casino Association of New Jersey and senior vice president of Eastern regional operations for Tropicana Atlantic City’s parent company, Eldorado Resorts. "The city continues to see increased sports betting and tourism, two important economic drivers. I look forward to a year of continued progress in 2020."

Casino Control Commission Chairman James Plousis said the industry "continued its momentum with strong results in January." "Revenue from slots, table games, internet waging, and sports wagering all grew," he said. "Internet and sports wagering did particularly well, bolstering the industry’s performance in the middle of the traditional offseason."

Table game and slot machine revenues were up 8.3% industry-wide, with the two newest properties, Hard Rock Hotel & Casino Atlantic City and Ocean Casino Resort, accounting for much of the growth. The two properties were third and sixth, respectively, in the market in terms of revenue from tables and slots, with both reporting a better than 36% increase compared to last year.

"January was our seventh consecutive month of double-digit growth," said Ocean Casino Resort CEO Terry Glebocki. "We were exceptionally pleased with our slot revenues, which increased 87% over last January. We will continue to invest in our property and our new high limit slot parlor, new Asian gaming salon and new VIP lounge are on their way."

Online gaming revenue increased by more than $21 million, or 64%, in January over the same month last year. It was the first month where internet gaming revenues topped $55 million. In 2019, online gaming revenue set records in eight out of the 12 months. For the entire year, online gaming's $482.7 million was an annual record and a 61.6% increase over 2018.

Local experts continue to see optimism in Atlantic City's future, as the casino industry continues to rebound from last decade when five gambling parlors closed within a two-year period. Hard Rock and Ocean reopened two of those shuttered properties in June 2018, the same month the industry's revenue increase streak began.

Sports betting revenues were up 139.9% with a reported $23.4 million in revenue for Atlantic City casinos and their online/mobile partners.