New Jersey Division of Gaming Enforcement has published the state’s gaming revenue results for December 2018, including total bets worth more than $1bn from sports betting alone for the year. Overall gaming revenue was $258.9m compared to $207m in December 2017, reflecting a 25.1% increase. Sports wagering gross revenue was $94m since inception on June 14, 2018.
Casino win for December stood at $209.1m, increasing 12.3% from the same month last year. Internet gaming win was $29m in December compared to $20.8m in the prior period, reflecting an increase of 39.7%. For the year-to-date, the industry’s total gaming revenue was $2.903bn for 2018 compared to $2.659bn in 2017, reflecting an increase of 9.2%. Casino win was $2.511bn reflecting a 4.0% increase over the prior period. Internet Gaming Win increased 21.6% to $298.7m for 2018.
For the month of December 2018, total gaming taxes were $21.8m. Total gaming taxes reflect 8% of taxable casino gross revenue, 15% of Internet gaming gross revenue, 8.5% tax on casino and racetrack sports wagering gross revenue and 13% tax on casino and racetrack sports wagering Internet gross revenue.
In addition, the casino industry incurred $3.5m in 1.25% additional tax on sports wagering gross revenue and investment alternative tax obligations (which reflects 1.25% of casino gross revenue and 2.5% of Internet gaming gross revenue). For the month of December 2018, the Racetrack Economic Development Tax of 1.25% of racetrack sports wagering gross revenue was $142,971.
New Jersey’s online and retail sportsbooks were, however, down on bets to $319.2m from November’s figure of $330.7m. That had an impact on revenue which was $20.8m in December versus $21.2m in November. Since going legal in June, New Jersey’s sportsbooks have taken $1.25bn in wagers, $780.6m of which was handled by online operators.
Dustin Gouker, lead sports betting analyst with PlayNJ.com, offered the view: “New Jersey’s strong month actually bucks a trend seen in Nevada, where sports betting typically cools a bit in December. Growth in a typically slower month crystalizes the strength of New Jersey’s growing sports betting market. The popularity of online sports betting is a chief reason, making it easier for gamblers to place bets, even as the time demands of the holiday season are in full bloom.”
DraftKings remained at the top of the online pecking order in the Garden State with $6.7m in gross revenue, down from $7.2m in November. It was followed by FanDuel Sportsbook/Pointsbet with $5.5m (-$4.4m November); Monmouth Park/William Hill/Sugarhouse with $1.3m (+$1.2 million November); Ocean Resort/William Hill with $1.05m, (+$915,930 November); Caesars Sportsbook and 888sport with $108,892 (-$205,046 November); and playMGM/Borgata with -$22,436 (-$194,212 November)
In retail it was FanDuel Sportsbook at The Meadowlands that again topped the list with $3.6m in gross revenue (+$2.6m November). Next in line was Monmouth Park with $1.03m (-$1.2m November) followed by Ocean Resort Casino with $633,857 (-$1.9m November) and Tropicana Casino with $217,408 (+$108,751 November). The chasing pack comprised Harrah’s AC, Resorts AC, Borgata, Golden Nugget, and Bally’s AC.