New Jersey to report stellar September sports betting results, local regulator’s Director reveals
The New Jersey Division of Gaming Enforcement is set to release “stunning” sports betting results later today, the regulator’s Director said earlier this week during the G2E Global Gaming Expo in Las Vegas.
Earlier this year, the US Supreme Court ruled in favor of New Jersey in a long-running lawsuit that sought to strike down a federal ban on betting on professional and collegiate sports. The SCOTUS ruling thus made it possible for each of the 50 states to legalize wagering on their territory, if they feel inclined to do so.
New Jersey was the second state to go live with sports betting following the landmark judgment, being outrun only by Delaware. Atlantic City’s Borgata Casino and the Monmouth Park racetrack in Oceanport were the state’s first venues to launch wagering services, both going live with their sportsbooks on June 14, 2018.
Aside from Delaware and New Jersey, two more states launched sports betting following the mid-May SCOTUS ruling, with those two being Mississippi and West Virginia, and several more are expected to roll out this type of service in the coming weeks and months.
New Jersey’s Betting Market So Far
Six of Atlantic City’s operational casinos are currently offering sports betting. In addition, another racetrack – Meadowlands in East Rutherford – jumped on the wagering bandwagon in mid-July. The state’s gambling venue now operate sports betting in both physical sportsbooks and digitally.
According to official data from the New Jersey Division of Gaming Enforcement, the state’s sportsbooks handled $95.6 million in August and $152.7 million since first legal betting operations commenced in mid-June. As for revenue, the amount of $9.2 million was generated in August and of $16.5 million since June 14.
Speaking at the G2E global gaming trade show in Las Vegas this week, David Rebuck, Director of the New Jersey gambling regulator, said that they would release “stunning” sports betting results for September, and stressed on the fact that he meant “stunning” in a positive way.
A solid increase in wagering revenue and handle could indeed be expected after the official start of the new NFL season. The National Football League is in its sixth week and New Jersey football fans are certainly taking advantage of the multiple betting options they have been presented with over the past few months.
In a recent report, major gaming consultancy Eilers & Krejcik Gaming said that New Jersey’s fledgling wagering market could overtake Nevada’s by 2021. The consulting group estimates that New Jersey’s industry will be worth around $442 million that year, while Nevada will take in around $410 million.
In a separate round of news from earlier today, it was announced that Malta-based gaming company Gaming Innovation Group has signed a Letter of Intent with Hard Rock International to provide the latter with an omni-channel sports betting platform at its newly opened Hard Rock Hotel & Casino Atlantic City. The casino, which occupies the site of the former Trump Taj Mahal, is one of the few Atlantic City properties that are yet to launch sports betting.
There were multiple speculations as to whether Hard Rock Atlantic City would be able to operate wagering services due to its parent company’s naming rights to the Miami Dolphins’ Hard Rock Stadium.
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