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New Jersey Sportsbooks Show Remarkable Year-Over-Year Growth While Online Casinos Flourish in June, According to PlayNJ.com
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New Jersey’s online casinos posted yet another near-record month in June while the state’s online and retail sportsbooks showed strength during a typically slow month. In all, June’s nearly $275 million handle was an impressive showing considering that the summer months are historically the slowest on the sports betting calendar, according to analysts from PlayNJ.com.
“To approach $275 million during a month where the only major sports betting event is the NBA Finals says something about the trajectory of New Jersey’s market,” says Dustin Gouker, lead sports betting analyst for PlayNJ.com. “Basketball clearly drives interest, but it also shows that interest in sports betting in general continues to expand.”
New Jersey’s sportsbooks accepted $273.2 million in bets in June, down 14% from $318.9 million in May, according to official reporting released Friday. The handle yielded $9.7 million in revenue, down 37% from $15.5 million in May.
June’s handle was up dramatically from $15.3 million in June 2018, and revenue has nearly tripled from $3.5 million in June 2018. Since launch, New Jersey sportsbooks have generated a handle of $3.2 billion and a win of $203.8 million. And New Jersey’s handle could surpass Nevada for the second consecutive month.
“The rate of growth will eventually level out, but I do not believe that time is at hand,” Gouker said. “The fact that New Jersey is now on par with Nevada, a market that has matured over generations, is remarkable. Competition from the launch of Pennsylvania’s sports betting apps could slow momentum, though.”
Online sports betting generated 83% — $226.7 million — of June’s handle, up from 82.6% in May. FanDuel Sportsbook/PointsBet generated $2.7 million in online gross revenue, or 28% of the state’s handle, edging Resorts/DraftKings. FanDuel Sportsbook at The Meadowlands lead the retail market with $1.7 million in June gross revenue.
“FanDuel has refused to loosen its grip on the New Jersey market,” Gouker said. “Other operators such as Monmouth Park and its associated online brands have shown plenty of growth, but at this point, it’s becoming difficult to see when FanDuel and DraftKings will will be seriously challenged.”
Online casinos
New Jersey’s online casino and poker industry generated $38.1 million in June revenue. June’s revenue was up 68% from $22.7 million gained in June 2018 and down slightly from $38.3 million in May.
The continued growth of online gambling — especially when online sports betting is factored in — shows that it could one day generate as much revenue as gambling in Atlantic City casinos. In fact, the Golden Nugget’s online casino brands — home to the Golden Nugget, Betfair, and SugarHouse online casino brands — could surpass Golden Nugget Atlantic City’s revenue before the end of the year. The Golden Nugget generated $13.6 million with its online casino games in June, down from $14.1 million in May. By contrast, Golden Nugget AC generated $15.8 million in June.
“Golden Nugget’s ability to generate nearly 50% of its revenue through its online casino without cannibalizing its brick-and-mortar operations should be a wakeup call to every state lawmaker and casino owner who still make the false assumption that such a dynamic is not possible,” said Steve Ruddock, lead online gambling analyst for PlayNJ.com. “Online and retail gambling are not simply compatible, they’re mutually beneficial.”
About the PlayUSA.com Network:
The PlayUSA.com Network and its state-focused branches (including PlayNJ.com and PlayPennsylvania.com) is a leading source for news, analysis, and research related to the market for regulated online gaming in the U.S.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: New Jersey Sportsbooks Show Remarkable Year-Over-Year Growth While Online Casinos Flourish in June, According to PlayNJ.com
Play weekly with your favorite ACR Team Online members and win your way into an exclusive cash game alongside them
Players eager to take on ACR Team Online members every week will now have the opportunity as ACR Poker launches its first-ever ACR Team Online Championships, a brand-new online home game series kicking off on Thursday, February 6th.
The ACR Team Online Championships home game takes place on the first three Thursdays of each month—this February on the 6th, 13th, and 20th—and features a guaranteed prize pool of $1,500 and a buy-in of just $2.20.
Participants will compete against ACR Poker’s Team Online members:
- Evan ‘Gripsed’ Jarvis,
- Mark ‘Weazel_1991’ Rubbathan,
- Svitlana ‘Svetarik’ Dryha,
- Oskar ‘Deckflow’ Ojaveer,
- and recently signed Irish poker pro Conor ‘Ccoonnoorr’ O’Driscoll.
“The ACR Team Online Championships are a great way for the poker community to come together, have some fun, and interact with us on a whole new level,” said O’Driscoll. “I can’t wait to dive in and see who steps up to the challenge.”
Players that make it to the Final Table each Thursday will be entered into a random drawing, streamed live on the ACR Show on ACR Poker’s Twitch channel the following Friday. If selected, the winner will receive $1,000 to participate in a private, streamed $5/10 cash game table on the final Saturday of each month.
The excitement will really peak during the cash game as players battle it out against ACR Team Online members, who will have their own single $1,000 buy-in. The game will conclude once three players remain or after two hours of play. All remaining players will have the opportunity to cash out their winnings.
To learn more about the ACR Team Online Championships, visit acrpoker.eu.
The post ACR POKER ANNOUNCES TEAM ONLINE CHAMPIONSHIPS HOME GAME STARTING THURSDAY, FEBRUARY 6TH appeared first on European Gaming Industry News.
Enteractive, the premier player conversion and reactivation service provider, has announced its latest partnership with BetMGM, a leading iGaming and sports betting operator.
With a focus on sustainable growth and player engagement, BetMGM continues to innovate in the competitive online gambling sector.
This partnership will enhance BetMGM’s existing CRM strategies with targeted reactivation campaigns aimed at converting non-funded registrations and re-engaging lapsed accounts across its U.S. markets.
Claus Hansen, Senior Director, CRM at BetMGM, shared his enthusiasm about the collaboration: “Enteractive’s expertise in one-on-one player engagement is a game-changer for us. Their unique approach allows us to re-engage specific audience segments that may not respond to traditional CRM methods, ultimately driving higher retention and increasing player lifetime value.”
Enteractive is the industry leader in player conversion and reactivation, boasting over 17 years of experience engaging millions of players worldwide. The company is recognized as having one of the most advanced and efficient customer engagement tools in the iGaming and sports betting sectors.
Mikael Hansson, CEO of Enteractive, commented, “BetMGM’s decision to partner with Enteractive underscores our commitment to enhancing player engagement and retention in the U.S. market. We’re excited to contribute to their success by driving conversions and reactivations, ensuring a stronger and more loyal player base.”
Over the past years, Enteractive has interacted with 50,000 customers per day, supported by its Reactivation Cloud software. A unique, person to person approach, bringing substantial revenues to multinational operators in Europe, USA and rest of the world.
Hansson concluded, “Our personalized and sustainable engagement strategies are key to unlocking long-term player loyalty and revenue growth. We’re eager to support BetMGM in strengthening its position as a leader in the U.S. online gaming industry.”
The post BetMGM Boosts Customer Engagement and Retention with Enteractive appeared first on European Gaming Industry News.
The prestigious Mexican casino PlayCity Mérida is elevating its entertainment offer with the arrival of Zitro’s CONCEPT cabinet line, which is reaping great success in multiple markets.
Alongside this, players can enjoy new titles such as Legendary Sword, Fairyland Quest, Triple Charm Journey, and Lucky Vault, all designed to cater to a wide range of players.
In Legendary Sword, players embark on an epic adventure in a medieval world, where the Magic Sword paves the way to achieve Honor and Glory. The game is played on a large 6×5 reel set, enhanced by different combinations of features such as “Honor,” which multiplies prizes; “Glory,” which grants additional spins; and the “Magic Sword,” which doubles all the prizes in its column.
For its part, Fairyland Quest transports players to an enchanted forest full of surprises. The Magic Mushrooms give access to a different bonus each, while the enchanted Fairy gives you a special bonus that doubles the playing area, offering a magical and different experience.
Triple Charm Journey surprises with features such as “Rise,” which increases winnings with each spin until the end of the bonus; “Collect,” which accumulates the values of Link symbols; and “Enigma,” which multiplies its value and that of some Link symbols on the screen.
Finally, Lucky Vault challenges players to open 3 colorful vaults, which grant additional rewards in both the base and free games. In Free Games, the “Multiplier” feature grants Wild Multipliers and the “Bank” feature, the Mega, Super, Minor, or Mini jackpots, by collecting the matching symbols. The player can unlock their corresponding Jackpot values with 4 identical Minor/Mini symbols or 5 identical Mega/Super symbols.
José Fernando López, product manager of PlayCity Casino, commented: “The CONCEPT cabinets have had an outstanding performance, and it is to be expected when you combine new games with superior graphic quality, a unique design, and innovative game mechanics. Having a product like this has helped us position PlayCity as a preferred destination for entertainment in Mérida.”
For his part, Johnny Viveiros Ortiz, founder of Zitro, affirmed: “It is a pleasure to see how our CONCEPT cabinet line and games continue to gain ground in Mexico. We are confident that these additions will continue to provide memorable experiences to players at PlayCity Mérida and throughout the country.”
The post ZITRO ARRIVES AT PLAYCITY CASINOS MÉRIDA WITH CONCEPT AND NEW GAMES appeared first on European Gaming Industry News.
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