Web Analytics

Sports Betting Record Shattered in September in New Jersey at $748M

September was great month in New Jersey for sports betting. In fact, the record was shattered. The fast-growing market blew the old one away at $748 million. Gamblers are clearly active and wagering on football.

The New Jersey Division of Gaming Enforcement released the final figures. They include Atlantic City’s nine casinos and horse racing tracks. The take easily outpaced August at $668 million.

The U.S. record of $614 million had been set in Nevada in November of 2019, but it no longer holds sway.

Casinos and racetracks are surviving better than expected taking in nearly $3.3 billion in sports betting alone this year.

Atlantic City used to make less in an entire year from casino gambling before sports betting became legalized.

Reported statistics show that the New Jersey gambling industry as a whole clocked $323.2 million in the ninth month of the year, showing a 6.5% increase over 2019. Of course, casinos and tracks were operating at full capacity at that time. Now it has been reduced to 25%.

Just look at The Borgata: it earned $64 million in September, down 2.8% from 2019. Other profit centers are the Golden Nugget at $37.5 million (up 16.3%) Hard Rock at $35.8 million (up 12.5%), the Ocean Casino Resort at $29.5 million (up nearly 22%), Tropicana at $26.1 million (nearly 10% down), Harrah’s at $19.5 million (26.6% lower), Caesars at $18.9% (dropping 1.8%), Resorts at $13.9% (dipping 7.5%) and Bally’s at $12.9%, or down 15.6%.

The largest increase in revenue in Atlantic City for the same month goes to the Ocean Casino. According to CEO Terry Glebocki,

“The Labor Day weekend and the return of indoor dining, afforded us the opportunity
to continue the momentum here…our guests have enjoyed dining again at their
favorite restaurants, and our year-over-year gaming revenue growth of nearly 27%.”

Many are heartened by the recovery of casino gambling and patronage. James Plousis, chairman of the New Jersey Casino Control Commission said that casinos are at about 85 percent of last September’s performance. He credits the reopening and availability of food and beverage service on casino floors.

“These results were promising in the midst of continuing travel advisories
that decrease visits from out of state, as well as restrictions on capacity,
amenities and entertainment…2020 is not reasonably comparable to last year.”

Source: https://www.570news.com/2020/10/15/nj-shatters-its-own-sports-betting-record-748m-bet-in-sept/

About the author

Patrick Pichette

Patrick Pichette

Patrick Pichette has a vast knowledge about Canadian nature, photography and journalism. After graduating the University of Alberta with a bachelor's degree in journalism he decided to follow his dreams and now he is the Associate Editor of Blog.ca

He can be reached out at: patrick.pichette@blog.ca

Add Comment

Click here to post a comment