Legal betting has been in place since June 2018 for the state of New Jersey and in this time casinos have grown exponentially in popularity with those bricks and mortar casinos and their online counterparts. It was a decision that was a long time coming and one that has been well received and as americancasinos.com reports one that is providing to be raking in record-breaking figures.
September 2019: The Numbers are in
In what has been described as the largest monthly total in the state since the laws changed last year the wager figure for September 2019 was $445 million on sports betting alone. These numbers are so strong that New Jersey is now a surprising challenger to Nevada for leading the industry across the USA. The two areas have been locked in a head to head battle for some time now, but currently, Nevada manages to retain the highest monthly total which topped out for them in March 2019 with a figure of $600 million the highest monthly amount ever recorded in the history of US gambling.
Casinos and Race Tracks
So we know how much was wagered, but what does this mean to the casinos? Well, in September the take-home profits for the venues was nearly $38 million. These figures come from the Division of Gaming Enforcement and are based on leftover money once expenses are paid and winning wagers settled. September is the month that NFL and College Football returns so of course, this has boosted things, but that would be the same for all casinos across the country. Atlantic City did not have such a good month by comparison, and although they had a much higher revenue overall of $224.5 million this figure actually represents a decline of 3.2% when it comes to on-premise table games and slots.
Online Gaming
Online betting was up, which is further evidence of the change in approach from players with the convenience of being able to play from home or anywhere taking over. The online figures saw a revenue generation of $41.1 million for the casinos in the month of September 2019 which when compared to the same data from precisely 12 months ago in September 2018 shows a growth of nearly 60%. “While operators continue to face strong competition for gaming and leisure customers, the increase in total gaming revenue shows the industry has grown for the betterment of both Atlantic City and New Jersey as a whole,” said James Plousis, chairman of the New Jersey Casino Control Commission.
