That it only took one year for New Jersey to beat Nevada in sportsbook earnings. And that’s a feat by itself. Just take a moment to reflect on the situation at hand.
Nevada has been in operation for many generations and had time to build up a loyal customer base. But in the end, if the state hinders you from growth, you’re going to be surpassed by technology. No matter how many customers you have. And here is where New Jersey holds an edge on its competitor. And the edge over Nevada is, of course, the online accessibility of all products
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The numbers will lead future developments
Let’s refresh your memory. In May, New Jersey grabbed the first place from Nevada when handling $318.9 Million in bets, and $15.5 Million (4.8%) of that was revenue. Now, compare that to Nevada’s $317.3 Million with $11.6 Million (3.6%) in pure profit. This tells us one thing, for an operator to grow its business in the gaming sector; it needs to be accessible for everyone.
However, the growth rate needs to level out at some point. But leading analysts don’t believe that that time is now. As we are only on the brink of the online evolution in the US. And one thing is crystal clear; New Jersey will be the state to look at on how to successfully roll out online gambling products.
June couldn’t carry Mays numbers
June was a good month for the Garden State. But still, it couldn’t deliver Mayís jaw-dropping figures. Although they accepted $273.2 Million in bets with a $9.7 Million in yield, it’s still a 37 % drop in revenue from May. But it’s still a massive 22% jump on year on year basis.
To keep in mind, the biggest source of revenue in New Jersey is still the brick and mortar casinos in Atlantic City. However, looking at the numbers, it looks like the golden goose of New Jersey, The Golden Nugget could get a 50-50 division (online casino vs. brick and mortar revenue) by the end of 2019. At least that’s what experts are predicting.