Overall, the entire NJ casino market is up 19.5% from December 2017. Also, casinos generated 12.3% more last month than they did the previous year. Not to mention, sportsbooks handled $319.2 Million in December. So without a doubt, sports betting is a major contributor to those statistics. However, the market did slightly dip last month as the holidays kicked in. According to a recent report by the DGE, NJ casinos generated $900k less than the previous month. With that said, let’s take a closer look and see how each casino matched up on a stand-alone basis.
A closer look
In terms of generated revenue and growth, FanDuel ended the year off as the Number one sportsbook in New Jersey. In fact, they made more money in December than they did in November. According to reports, FanDuel generated $9.1 Million last month. Which, is $2 Million more from the previous month!
Other than that, all other sportsbooks in the state reported losses during the final month of the year. Second up, Resorts Digital powered by DraftKings and Kambi reported $6.7 Million in December. According to the numbers, that’s about $500k shy of November’s take. However, in terms of land-based sportsbooks, Ocean Resort Casino led the month with $1.67 Million. Which, was also down from $2.82 Million the month before.
Going forward, the landscape and statistics in 2019 are going to look much different. With that said, sportsbooks are transforming into something new and creative. Take the Borgata as an example with there $11 Million plan on a sports betting facility that will include a destination bar and lounge. So it’s definitely going to be exciting as we venture into a new year! In other reports, since legalized sports betting launched in late June, state tax revenue soared over $5 Million! According to the state, 13% of that goes toward programs that help with the elderly and disabled. So by all means, sports betting is beneficial for all citizens of New Jersey, even for those who don’t gamble!