The DGE (New Jersey Division of Gaming Enforcement) had some numbers to present after two weeks of sports betting operations in NJ. And from these positive numbers, there is a clear competitor to beat. In fact, Monmouth Park completely kept its competition in their rear view mirror, with its impressive $2.28 million in revenues. The closest anyone came was Borgata with $986,000. Now, worth to mention is Ocean Resort that was only open for two days in June. But still, manage to report revenue of $192,000. Is this going to be the new operator to beat?
Slightly falls numbers…
Although the numbers show how much craving there is for Sports betting in the state of New Jersey. The actual number includes a 6% bets with a future outcome. For now, the $1 million placed on events to come will count to revenue and deducted when bets pay off. But still, it’s impressive to see that sports operator kept 7.8 % ($3.5 million) of the $15.36 million made in only 2 weeks!
William Hill, US CEO Joe Asher, commented on the figures. “We always knew there was a big appetite for legal sports betting during the years of litigation, and now we know.”
Numbers keep on adding up
In total, the two weeks contributed close to $300,000 in taxes to the state. And it showed on the brick and mortar revenue as well, with a $207.5 million (5.1%) from last year’s June figures. However, the total year to date revenue is still down 2.3%. But, the numbers are to increase dramatically with the opening of two new casino resorts.
As a matter of fact, Atlantic City saw a huge increase in foot traffic checking out the new casinos. But, it’s too early to say if the relaunches are going to keep Sports tourism coming back to Atlantic City for more! Fingers crossed they will!