- Legal States
Filip Mishevski October 19, 2021 3 min read
New Jersey Tops $1 Billion in Sports Betting Handle in September
New Jersey has finally broken the ten-figure barrier, as its September sports betting handle topped $1 billion. According to the New Jersey Division of Gaming Enforcement, the total of $1.01 billion handle represents close to a 50.6% increase of August’s handle.
Most of the Handle Came from Online Sports Betting
New Jersey’s handle is the highest handle recorded in the US ever since sports betting became legal. Not only that, but this is also the first time when a state has crossed the $1-billion mark in a single month. Online sports betting has proven to be quite profitable for the state since $918,443,445 of the total handle came from online sportsbooks.
Back in 2020, New Jersey was extremely close to reaching this milestone when it reported a $996-million handle for the month of December that year. In September, NJ’s revenue was $453 million, whereas the revenue of the state for September 2020 was $323.3 million.
Sports betting’s revenue for September 2021 was $82.4 million, which is a $30-milion increase from August. Most of the racetracks and casinos in the state reported positive sports betting numbers for that month.
The Meadowland Racetrack Had Fantastic Numbers
NJ’s highest sports betting earner was the Meadowland Racetrack, whose September revenue was $41,257,281. The Freehold Raceway’s revenue for September was $4,282,313 and the revenue of Monmouth Park was $2,874,242.
As for the casinos, Borgata took the top spot with September revenue of $13,416,671 million. Resorts Digital was close behind, with $13,164,655, and Tropicana closed off the top three with revenue of $3,266,556.
Elsewhere on the list, Caesars reported $380,783 in revenue, Ocean Casino’s revenue was $1,657,914, Hard Rock had $1,794,516 in revenue, Golden Nugget had $181,168, Harrah’s reported revenue was $385,996 and Resorts’ revenue was $483,800. A vast majority of these operators had a massive increase in revenue compared to August 2021.
Meadowlands had the biggest jump as its August revenue was $26,868,588.
PlayStar is Opening a Casino in New Jersey
New Jersey is a popular state for gaming and is about to become more popular. After successfully expanding its operations in numerous US states, including Pennsylvania, PlayStar has had its eye on the New Jersey market for a long time now. The PlayStar brand is adamant about opening a New Jersey online casino by the end of 2021 and has teamed up with Ocean Casino (Atlantic City) to gain market access.
Gaming Innovation Group (GiG) will power PlayStar’s online casino brand. Richard Brown, GiG’s chief executive, stated that PlayStar has a massive vision that is backed by a highly experienced team that knows the industry well.
As PlayStar confirms, the NJ market access is just the start as the brand is looking to expand in other US states and make a massive impact on the gambling industry.
Filip Mishevski has been covering online gambling and cryptocurrencies for the past few years. He has written countless articles, how-to-guides, insights and news, and is keen on sharing his extensive knowledge in the aforementioned fields. He’s very passionate about soccer and MMA and is interested in how the online gambling industry will shape our future and thus, influence our lives.
Business October 19, 2021