It’s another busy week in the New Jersey gambling market. In fact, we are beginning to think this is the new normal.
The performance of online casinos in NJ continues to drive many discussions about the growth of the industry. Well, we are here to report they are still growing, as is evidenced by the recent revenue report released by the Division of Gaming Enforcement.
Land-based casinos also had a good month. Jim Allen, CEO of Hard Rock International, spoke exclusively with PlayNJ.com and shared his thoughts on what might make Atlantic City even more profitable.
Of course, not a week goes by without some partnership news. This week is no different, with new partnerships for two NJ sportsbooks:
We have those stories and more in this week’s NJ Gaming News.
NJ online casinos hit more milestones
NJ online casinos continue to impress with massive numbers. In January, they brought in a total of $55.1 million, a 63.9% increase when compared to last January.
Here are just some of the highlights from the NJ online casino revenue report:
- NJ online casinos earned over $50 million for the first time
- It is the 20th straight month of revenue increases for the casinos
- Golden Nugget’s online casino earned more than its land-based casino and earned over $20 million for the first time.
While online casinos continue to put up double-digit, year-over-year growth, their land-based counterparts are also returning solid figures.
Atlantic City’s nine casinos brought in $192 million good for an increase of 8.3% when compared to January 2019.
Hard Rock CEO shares his thoughts about Atlantic City
Allen complimented the gaming regulatory environment in NJ, saying, “no jurisdiction in the world can rival what New Jersey’s doing.”
What is more interesting, however, is his view on Atlantic City and its future. If Atlantic City is truly going to be a gaming destination, it should probably be treated as one. Allen said:
“To have facilities open that haven’t been renovated in (a number of) years, whether it be room product or public areas is, to me, the most important part of the conversation.”
Hard Rock was the third-highest earning land-based casino in AC in January, behind Borgata and Harrah’s. It looks like renovating a shuttered property is paying off.
NJ sportsbooks still partnering up
NJ sportsbooks better grab their partner before all the dance cards fill up. Two more partnerships were recently announced:
DraftKings announced an exclusive multi-year daily fantasy sports partnership with the Philadelphia 76ers.
DraftKings will also be branded as a sportsbook and online casino partner, but the relationship isn’t exclusive. Similar to most arrangements of this kind, the deal includes access to marketing materials, including the use of official team logos and other branding options.
The William Hill and CBS Sports partnership could be huge for the NJ sportsbook. William Hill will provide betting data to CBS Sports and be branded its official sportsbook.
NJ sports betting fans should start to see the new partnership on display in time for March Madness.
Also making news in the New Jersey gambling world
The World Series of Poker announced its online bracelet event schedule for the 2020 WSOP. This year NJ online poker players will have 14 tries to earn a gold bracelet on WSOP.com. Click here for the complete schedule.
As expected, the hype is real, and the talk is tough as we head into the Wilder-Fury rematch. Wilder says there is some “unfinished business,” and Fury wants to finish it.
The XFL is off to a solid start, and officials at two NJ sportsbooks are weighing in. Johnny Avello, the DraftKings director of sportsbook operations, and Nick Bogdanovich, William Hill director of trading, both believe the league held up well and think it has staying power.