New Jersey igaming continues strong showing as sportsbooks near $1bn
New Jersey is lauded as demonstrating evidence of further resistance through February, as sportsbooks neared $1bn in wagers and igaming 토즈토토 continued recent momentum despite recording a slight dip.
The Garden State fell shy of another record showing, driven by a shorter month rather than industry slowdown, as the region’s total gaming revenue increased 29.5 per cent to $373.26m (2020: $288.25m).
Online casino and poker rooms brought revenue of $130m through the month, which is down 5.7 per cent from January’s record $137.8m but up 38.6 per cent from $93.8m year-on-year.
However, average daily revenue increased to reach a high of $4.6m per day over the 28 days of February, compared with $4.4m in January. This yielded $22.7m in state and local taxes.
Borgata maintained its place at the top of the New Jersey standings with $37.83m, up 47.1 per cent from $25.71m, ahead of Golden Nugget Online Gaming’s $34.56m, a 23.8 per cent uptick from $27.9m, and Resorts Digital, which recorded a 51.6 per cent uptick to $29.9m (2021: $19.73m).
On a land-based basis, which saw revenue increase 43.3 per cent $212.41m (2020: $148.24), Borgata and Hard Rock occupied the top two spots once more with revenue of $52.84m (2021: $36.95m) and $37.39m (2021: $23.57m), respectively, with Ocean Casino remaining in third with $29.69m (2021: $18.83m).
“After two years of pandemic concerns and the increase in competition from New York, New Jersey’s gaming market is stabilising,” noted David Danzis, an analyst for PlayNJ.
“Atlantic City casinos are rebounding, while revenue from sportsbooks and online casinos reflect the market’s ‘new normal,’ which is a really good normal. All in all, it was an excellent month for the state.”
Online and retail sportsbooks across New Jersey attracted $985.6m in bets in February, which was down 26.9 per cent from the record $1.35m in January but up 32.7 per cent from the $743m generated one year earlier.
Revenue came in at $30.9m, which are declines of 38.6 per cent and 94.8 per cent from $46.2m year-on-year and $60.2m month-on-month. This injected $4.5m into state and local taxes.
“New Jersey’s online and retail sportsbooks continue to follow the same historical seasonal patterns, showing only a modest impact from New York’s entry into the online sports betting space,” added Danzis.
“That is a cause for relief for those that are heavily vested in the success of the state’s industry, including the state itself.”
Online sportsbooks drew $899.6m in bets, or 91.3 per cent of the state’s handle in February, with FanDuel/PointsBet/SuperBook generating $14m in gross revenue, down from $35.5m in January. DraftKings/Fox Bet/Resorts was next in line with $8.6m in revenue.
Retail sportsbooks lost $1.4m on their bets. Resorts topped the market with $451,455 in revenue, a rare win over usual pace setter Meadowlands/FanDuel, which lost $146,166.
“With baseball now committed to a full 162-game season, sportsbooks can look forward to what appears to be the first normal sports year since 2019,” said Eric Ramsey, an analyst for the PlayUSA.
“This looked like a year where New Jersey’s sportsbooks might give some ground with increased competition in neighbouring states, but those concerns are starting to fade.”
Allwyn’s Russian connections and Watford employment raised in PMQs
Dean Russell, MP for Watford, has expressed concerns regarding the UK Gambling 레이스벳 Commission’s (UKGC) decision to hand the next ten-year National Lottery licence to Allwyn.
Sharing his opinions at Prime Minister’s Questions in Parliament yesterday, the Conservative MP focused on Allwyn’s alleged ties to Russia, at a time when international relations remain tense due to the invasion of Ukraine.
In particular, he cited reports that the Czech operator’s Chairman, Kamel Komarek, is involved in a joint-venture with Russian state-backed energy giant Gazprom, and questioned whether it was “appropriate” for Allwyn to secure the contract when Russian-affiliated businesses and directors are facing sanctions.
He also noted that Camelot, which is based in Watford, is a major employer in his consistency, and so expressed concerns about local job prospects for his representatives.
“Camelot is one of the largest employers in Watford, and its employees have worked tirelessly to successfully run the National Lottery for decades,” the MP queried.
“They play an important role in communities across the UK, many local communities and good causes, including in my constituency.”
“So while I clearly declare an interest in the Gambling Commission’s decision yesterday not to appoint the next licence to Camelot, I do wonder, given the current situation in Ukraine, if my right honourable friend considered it appropriate, that the next licence holder as the operator of the National Lottery is known to have a joint venture with Gazprom?”
Replying to the MP, Deputy Prime Minister Dominic Raab – sitting in for Boris Johnson – asserted that Czech billionaire Komarek is a vocal opponent of Vladimir Putin’s regime, and has been in discussions to terminate his involvement with the Gazprom venture.
“I understand that Allwyn’s owner Mr. Komarek, who has long criticised the Putin regime, is in discussions with the Czech Republic Government over its joint venture with Gazprom and removing its involvement,” the Deputy PM stated.
Komarek had previously addressed media speculation over his Russian connections, stating that any accusations demonstrated “ignorance of my own personal experience of growing up under the repression of Soviet occupation”.
Following the invasion, Allwyn and KKCG released a joint letter condemning Russian military action, and converted one of their offices in Prague into a safe centre for Ukrainian refugees.
The firms also organised trucks carrying durable food, mattresses, sleeping bags, camping mats, hygiene products, and other supplies via the Komárek Family Foundation and its partner in Lyiv.
Releasing a statement on Allwyn’s website, Komarek said: “The sad reality is that a party in the UK wishes to use the war in Ukraine as part of a distasteful and shameful attempt to discredit Allwyn’s team and bid to operate the National Lottery. This speaks to their character, not ours or mine.”
Allwyn has detailed its strategy to leverage its experience operating several European lotteries in order to share best practice as National Lottery licence holder, and also focus on improving draw-based games.