ATLANTIC CITY, N.J. — Internet gambling and sports betting set new records in New Jersey in November, as Atlantic City’s gambling market continues to evolve and become less reliant on physical casinos, it was announced Friday. This was revealed in the published statistics.
More than $171.5 million was won from online table games and slots by casinos and their technology partners, according to the New Jersey Division of Gaming Enforcement.
At the same time, casinos and three racetracks that accept sports wagers placed $1.62 billion worth of bets in November, another record.
Taken together, these numbers show that technology and a wide menu of betting options are shaping the way some people gamble in New Jersey, where in-person gambling at physical casinos has long been the primary method of betting. We provide new evidence that we are changing.
Internet and sports betting accounted for about 45% of Atlantic City’s revenue in November, said Jane Bochnewicz, director of Stockton University’s Lloyd Levenson Institute, which studies Atlantic City’s gambling industry.
But she sees it as complementing rather than competing with in-person casinos.
“Rather than reducing brick-and-mortar gaming revenue, Internet gaming and sports betting appear to be well-received as consumer products that fill a niche for some gamblers,” she said. “There will never be a replacement for the in-person gaming experience. The current relatively flat revenue from brick-and-mortar gaming may just be evidence that the market is stabilizing.”
He said it remains to be seen how the surge in online and sports betting will affect overall casino profitability. These revenue streams should be shared with partners such as sportsbooks and technology platforms, and should not be kept solely by the casino. This is the main reason why casinos consider money won from in-person gamblers to be important business.
And its core businesses continue to lag behind pre-pandemic levels. Of New Jersey’s nine casinos, only Hard Rock and the Ocean Casino Resort won more from in-person gamblers this November than it did in November 2019, before the pandemic hit.
Combining all winnings from in-person, online and sports betting at casinos and three racetracks, total winnings in November totaled $482.4 million, an increase of 9.4% from the same period last year.
Golden Nugget, which has had a strong online gambling business for years, won more than $50 million in Internet casino games in November, an increase of nearly 33% from a year earlier. Other big online winners include Resorts Digital, the Internet division of Resorts Casino, which increased by more than 26% to take him $47.2 million, and Borgata, which took him nearly $38 million online, down 14.4%. included.
In terms of overall gambling revenue, including internet betting and sports betting, market leader Borgata took in more than $97 million in November, down 8.6% year-on-year. The Golden Nugget earned him $61 million, an increase of nearly 25%. Hard Rock increased by more than 26% to earn him $52.4 million. Ocean earned $36.7 million, an increase of 5.7%. Tropicana earned $28.5 million, an 8.2% increase. Harrah’s received $20 million, down 2.3%. Barry’s earned him $19.7 million, an increase of 29% over her. Caesars brought in nearly $17.9 million, down 6.6%. And the resort earned her $12.4 million, an increase of just under 1%.
Looking only at winnings from in-person gamblers, Borgata won $51.6 million, down 6.1%. Hard Rock earned her $41.4 million, an increase of 16.7%. Ocean earned $31.4 million, an increase of 1.4%. Harrah’s earned $19.4 million, down 7.6%. Tropicana earned $17.8 million, down 6.8%. Caesars earned $17.5 million, down 7.7%. Resorts brought in nearly $12.5 million, down 0.2%. Bally’s earned $12 million, an increase of 20.4%. And the Golden Nugget fell nearly 3% to $11 million.
The total amount of bets placed on sports, known as the “handle,” also hit a new high in November. But of the $1.62 billion worth of wagers placed by casinos and racetracks, only $96 million remained in revenue after winning bets and other expenses were paid.
Meadowlands Racetrack in East Rutherford, a suburb of New York City, is known for hosting the sportsbook FanDuel, which won more than half that amount, $57.6 million. Resorts Digital, which is affiliated with DraftKings, has won more than $19 million in sports betting.
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