Each Wednesday and Sunday, Digital Wager Wire highlights the most important events impacting the domestic and international sports betting and gaming industry landscape.
New Jersey Gaming Revenue Soars in September
Mobile sports betting and iGaming provided a big boost to the overall gaming numbers in New Jersey, contributing $208 million of the combined $558 million monthly revenue that includes in-person casino and retail sports betting, a 7.1% year-over-year increase.
“The ongoing success of internet gaming helped push Atlantic City’s total gaming revenue to its highest figure for the month of September in over a decade,” said James Plousis, chairman of the New Jersey Casino Control Commission. “For the third consecutive month, total gaming revenue surpassed $500 million. Last year, total gaming revenue eclipsed $500 million only in August.”
The jubilation was somewhat tempered by the fact that the nine Boardwalk casinos make the majority of their profits through in-person gambling, as they do not have to share any of those revenues with third-party operators as they do with online gambling. Although casino revenues were $6 million higher than in pre-Covid 2019, it should be noted that only four of the nine casinos experienced that increase while the other five saw a decrease from five years ago.
Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, said September’s numbers were “a mixed bag,” noting digital revenues that “seemed to leave brick-and-mortar gaming revenues behind.”
“Year-to-date, internet gaming continues to represent a significant share of Atlantic City operators’ revenue mix, contributing 40.8% of the total revenue for the industry through the first three quarters of the year,” she said.
Bally Bet Launches in Tennessee
The Volunteer State saw the arrival of its 11th sports betting operator when Bally Bet went live late last week. The Rhode Island-based sports betting app has expanded its digital footprint with launches in Maryland and Massachusetts over the summer, joining its other markets in Arizona, Colorado, Indiana, Iowa, New York, Ohio, Virginia, and now Tennessee.
The company’s press release stated, “The Bally Bet sportsbook app encompasses all the features that customers adore and much more, solidifying its position as the premier choice for sports wagering in Tennessee. Sports enthusiasts can easily access Bally Bet and download the app from the App Store or Google Play. Bally’s Interactive has worked closely with sports betting regulators in Tennessee to ensure a responsible and timely launch, prioritizing responsible gambling.”
Bally Bet will now compete against BetMGM, Fanatics, Hard Rock, FanDuel, Caesars, ESPN BET, DraftKings, Betly, ZenSports, and Action 247 Sportsbook in the Tennessee market. The company has had a sports betting partner in the Volunteer State since 2021 with the NHL’s Nashville Predators.
