New Jersey & Mississippi Post Their June Results
The New Jersey Division of Gaming Enforcement (NJDGE) has posted the latest financial results for June, revealing the Garden State saw a slight drop in revenue during the previous month.
However, the numbers reveal a much bigger decrease in sports betting handle, which is at its eight-month low!
Online poker remained flat at $1.8 million, with other casino games dropping by around 0.6% to $36.3 million. The good news is this sum represents a year-on-year increase of 74% when compared to $20.9 million generated in June last year.
Numbers Tell the Whole Story
Two of the state’s leading online casinos have managed to improve their market share last month. Borgata went up to 15.9%, while Caesars Interactive accounted for 13% of the overall market in New Jersey.
However, Golden Nugget, Tropicana and Resorts Digital saw their market share drop.
Both online and land-based sports betting generated significantly less revenue during last month, with the former dropping by 14% to $226.7 million, and the latter by 16% to $46.5 million.
Online vertical recorded its lowest result since October last year when it generated a turnover of $174 million.
Some venues improved their market share, most notably Ocean Resort, whose share jumped from 3.9% in May to 10%. Meadowlands recorded the biggest drop, ending the month with a share of 45.2%.
The Golden Nugget made into the top five last month with a share of 1.6%, which could be significantly increased in the future.
Under the provisions of the current law, Golden Nugget is not allowed to accept wagers on any NBA games as Tilman Fertitta, chairman, chief executive and the owner of Golden Nugget’s parent company Landry’s, is also the owner of the Houston Rockets. If the new bill is adopted, Golden Nugget will be able to offer wagering on NBA games, although it will still be prohibited from accepting bets on the Rockets. Golden Nugget is one of the leaders in online gaming, but it’s still far behind its competitors when it comes to sports betting.
Sports Betting in Mississippi
In related news, the Mississippi Gaming Commission revealed the state’s sports betting market increased by 35.4% in June.
Sports betting revenue also improved when compared to May, reaching $1.6 million, although the collective handle for the state’s three regions dropped by nearly 13% to $15.2 million.
Coastal casinos led the way, generating $709,901 from $9 million in bets, which is a win percentage of 7.9%. And although revenue improved from May, the wagers dropped by $2 million.
Casinos in Mississippi’s northern region generated $549,847 in revenue in June from $4.3 million in wagers. This represented an increase in both revenue and handle.
Casinos in the state’s central region posted revenue of $113,920 from $823,939 in wagers during June, which is quite a drop from $305,494 in revenue and handle of $2.5 million generated only a month before.
In all three regions, baseball was the sport of choice for the majority of bettors, followed by basketball.
- iGB North America: https://www.igbnorthamerica.com/new-jersey-igaming-dashboard-july-2019/,
- iGB North America: https://www.igbnorthamerica.com/mississippi-sports-betting-market-recovers-in-june/