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NJ Breaks Its Own Sports Betting Record: $ 748M Bet In September | Company

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ATLANTIC CITY, NJ (AP) New Jersey’s rapidly growing sports betting market broke its own national record in September, registering more than $ 748 million in bets from sports players finally able to bet on football in the midst of the coronavirus epidemic.

Figures released Thursday by the New Jersey Division of Gaming Enforcement show that the nine Atlantic City casinos and the three horse racing tracks that offer sports betting managed more than $ 748 million in bets, easily breaking the record. monthly national they had established a month earlier, when $ 668 million bet on sports in August.

The double digits easily eclipsed what was Nevada’s $ 614 million US record set in November 2019.

So far this year, New Jersey casinos and tracks have cashed in nearly $ 3.3 billion in sports betting alone. This equals or surpasses what Atlantic City earned for an entire year from casino games before sports betting was legalized.

New Jersey won a case in the United States Supreme Court in 2018, allowing all 50 states to offer legal sports betting if they so choose. He quickly dominated the East Coast market and challenged Nevada for the national head.

The $ 748 million includes the total amount of bets accepted by casinos and lanes; after paying the winning bets and spending, they kept $ 45 million of that total.

Including casino games, the New Jersey gaming industry earned $ 323.2 million in September, an increase of 6.5% from last September when there was no pandemic and that the casinos were operating at full capacity. Casinos are currently limited to 25% occupancy as a precautionary measure to prevent the spread of the coronavirus.

The Borgata won $ 64 million in September, down 2.8% from the previous year. Golden Nugget won $ 37.5 million, up 16.3%; Hard Rock took home $ 35.8 million, up 12.5%, and Ocean Casino Resort took home $ 29.5 million, up nearly 22%.

The Tropicana took home $ 26.1 million, down nearly 10%; Harrah’s took in $ 19.5 million, down 26.6%, and Caesars gained 18.9%, down 1.8%.

Stations gained 13.9%, down 7.5%; and Bally’s gained 12.9%, down 15.6%.

Ocean Casino posted the largest percentage increase in September revenue in Atlantic City, and CEO Terry Glebocki said it was due to service factors.

The combination of the Labor Day weekend and the return of indoor dining, capped at 25%, gave us the opportunity in September to continue the momentum created here at Ocean, “she said. ” Our customers once again enjoyed eating at their favorite restaurants within our casino and the nearly 27% growth in our gaming revenue year over year is a testament to the success we have had.

James Plousis, chairman of the New Jersey Casino Control Commission, was encouraged by the pace of the recovery in casino gaming revenues.

The casino win was 85% of last September’s performance, thanks to the casino’s restaurants reopening on September 4 and the resumption of food and beverage service at the casinos, he said. These results were promising amid continued travel advisories that reduce out-of-state visits, as well as restrictions on capacity, amenities and entertainment that made 2020 not reasonably comparable to the year. last.

Internet gambling revenue was $ 87.6 million in September, up 113% from the $ 41.1 million generated in September 2019.

The Freehold Raceway began taking in-person betting on September 24, making it the third-largest horse racing track in the New Jersey sports betting market. It has yet to be approved for mobile sports betting and reported a loss of nearly $ 45,000 in the last week of the month.

The Meadowlands Racecourse in east Rutherford, near New York, continued to dominate sports betting in the state, with $ 28.1 million in revenue in September. Monmouth Park in Oceanport, about 18 miles east of Freehold, near the Jersey Shore, grossed nearly $ 3.5 million.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

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