New Jersey sports betting revenue more than triples in 2019


new-jersey-2019-sports-betting-revenueNew Jersey’s sports betting operators closed out 2019 with a bang, more than tripling their annual revenue from the previous year.

Figures released Tuesday by the New Jersey Division of Gaming Enforcement show the state’s licensed online and land-based sports betting operators generated combined revenue of $29.42m in December, up 41.4% from the same month last year but down $3.5m from November 2019’s total.

December’s betting handle came in at $557.8m, just a whisker below November’s record $562.7m. But digital wagering’s share of December’s handle came in at $488.93m, an 87.6% share, up around one point from November’s share and a new market-high.

The Meadowlands Racetrack/FanDuel combo once again claimed top betting revenue honors in December with $14.5m, down marginally from November but 59.3% better than the same month last year. All but $2.42m of that total was earned via digital channels.

Resorts Digital Gaming and its DraftKings/FoxBet partners ranked second with $9.33m in December, while the affiliated Resorts Casino Hotel’s land-based sportsbook had a craptacular month, reporting a net loss of over $406k.

The Monmouth Park racetrack ($2.56m) narrowly edged out the Borgata casino’s betting operations ($2.27m), while Ocean Casino Resort was the only other operator in seven-figure territory with $1.16m.

None of the other operators (Bally’s, Golden Nugget, Tropicana) managed to net over $200k in December, while the Hard Rock Atlantic City (-$345k) and Harrah’s (-$107k) joined Resorts in the net loss club.

For 2019 as a whole, betting handle totaled $4.58b, a 367% improvement over 2018’s total sum wagered. Digital’s share of 2019’s betting handle came to 83.7%, a significant rise on 2018’s 62.5% digital share. Betting revenue hit $299.4m in 2019, more than triple 2018’s $94m.

The Meadowlands/FanDuel claimed just over half ($149.9m) of 2019’s betting revenue, while runner-up Resorts Digital was well back at $79.6m and Monmouth Park ranked third with $25.9m.