Sports betting, internet gaming pace January DGE report

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“The success of online gambling and sports betting continues to provide operators with a competitive advantage during Atlantic City’s traditional off-season,” said New Jersey Casino Control Commissioner James Plousis.

In fact, total gambling revenue skyrocketed at the start of 2024. Plousis’ comments accompanied the release of gambling figures for January 2024 by the state Division of Gaming Enforcement (DGE) on February 16.

Atlantic City’s nine casinos reported TGR of $444.7 million – a 15% increase from last January. When including casinos, racetracks and their partners, TGR is $559.1 million – a 28% increase from January 2023.

“Despite harsher weather than 2023, January 2024 brought a more than 15% increase in total gaming revenue for Atlantic City casino operators,” said Jane Bokunewicz, faculty director of the Lloyd D. Levenson Institute of Gaming, Hospitality, and Tourism (LIGHT). , Stockton University School of Business, in their analysis of the gaming report. “The majority of this profit came from external activities, with both internet gambling and sports betting producing record single-month returns.”

January 2024 | remarkable numbers

  • Internet gaming profit was $183.3 million – an increase of 19.9% ​​compared to last January
  • The handle for sports betting was $1.7 billion with gross sales of $170.8 million – an increase of 136.1% compared to last January
  • Casino winnings from 205 million dollars – a decrease of 3.1% compared to last January

The three most powerful features for casino winnings were:

  • Borgata – $57.6 million
  • Hard Rock – $37.3 million
  • Ocean Casino – $33.1 million

Record-breaking

“Internet gaming profits set a new monthly record, which, along with strong sports betting revenue, helped Atlantic City’s total gaming revenue in January reach its highest level since 2006,” Plousis said. “Although the casino profit was lower compared to the same month last year, it was the second best January result in 11 years.”

“Seasonal weather typically impacts the industry and this contributed to brick-and-mortar returns being 3% lower in January 2024 than in 2023, when the weather was milder,” Bokunewicz explained. “It is likely that brick-and-mortar activities have shifted to online channels, leading to an increase in overall internet gambling and online sports betting numbers. The return of nicer weather will likely result in improved year-over-year profits for Atlantic City’s brick-and-mortar casino operations.”

“Operators have invested millions of dollars in expanding attractions and amenities and improving their world-class hotels to create unforgettable personal experiences for the upcoming tourism season,” Plousis said.


Great gameBets

The state Division of Gaming Enforcement released preliminary betting numbers for Super Bowl LVIII on February 11th. New Jersey sportsbooks reported a profit of nearly $8.5 million. Click here to read the full story.

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