The New Jersey Division of Gaming Enforcement published their monthly revenue figures on Thursday afternoon reporting a record-high handle of $487,924,504 and sports wagering gross revenue of $46.4 million.
Industry insiders had expected a big number from the licensed New Jersey sportsbooks thanks to October being one of the most active times for pro sports. In addition to a seven-game MLB World Series, the NFL season entered its second quarter of the season and, at the same time, the regular season of the NBA tipped off. All of the pro sports activity, including the start of the NHL season, helped the sportsbooks to a 9.5% hold/win.
October’s handle was an 8.7% increase over the amount accepted in September.
Big-time mobile number
Another large number that stood out in the monthly report was the $416,964,519 handle attributed to mobile/internet sports wagering. That represents 85% of the total monthly handle, which is comparable, if not up slightly, from how internet wagering performed in October (which was at 84%). The amount is over $42.7 million more than was collected in September and makes up for the entirety of growth from last month.
Resorts Digital, the license that houses online sportsbooks DraftKings, FOX Bet and Resorts Casino, was one of the biggest beneficiaries of internet wagering earning over $10.5 million (22%) of the total gross revenue.
Although it was the Meadowlands Racetrack who led the way in October. The Meadowlands, which shares its license with both FanDuel Sportsbook and PointsBet, earned over $24.7 million, which was good for 53% of the gross revenue. Retail sports wagering actually took a fractional percentage dip in October. In September, the
retail sports wagering handle came in at $71.317 million in comparison to the $70.959 million in October
Gross Gaming Revenue By Property
- Bally’s AC – $770K
- Borgata – $1.846 million
- Golden Nugget – $536K
- Hard Rock – $1.965 million
- Harrah’s – 92K
- Ocean Resort – $2.332 million
- Resorts – 265K
- Resorts Digital – $10.558 million
- Tropicana – 390K
- Meadowlands – $24.794 million
- Monmouth Park – $2.841 million
When compared to just one year ago, numbers were up across the board with the sole exception of Harrah’s. Harrah’s, the retail location which brings in the least amount of revenue of all licensed properties, saw a small decrees year-over-year falling from over $104K in 2018 to just over $92K last month.
Speaking of year-over-year comparisons, now in it’s seventeenth month, the New Jersey sports betting market continues to see numbers climb. October’s $46.393 million in revenue is just shy of a 400% year-over-year growth from what was made in October of 2018.
Year-To-Date
The numbers for the entire year continue to soar as well with the total handle for New Jersey eclipsing $3.462 billion, 82.5% ($2.859 billion) of which was handled via internet or mobile gaming.
With October’s numbers, the total wagering gross revenue for 2019 is just north of $237 million, as compared to $52 million at this time last year.
To date, New Jersey has seen over $28.7 million in gross taxes coming from the sports wagering industry.
