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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 Sportsbooks Show Remarkable Year-Over-Year Growth While Online Casinos Flourish in June, According to PlayNJ.comReading Time: 2 minutes

 

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

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Strive Gaming, the award-winning real money gaming platform provider for North America, is pleased to announce the appointment of Ian Smith as its new Chief Technology Officer (CTO). With an illustrious career spanning over two decades in the gaming industry, Smith brings a wealth of experience and expertise to Strive.

Smith’s impressive career includes significant leadership roles at William Hill, Rank Group, Flutter Entertainment (owners of FanDuel) and Game Play Network. He has been instrumental in the technical development and growth of these businesses, each at varying levels of maturity and size.

At Rank Group, one of the UK’s leading land-based casino and bingo businesses, Smith oversaw the company-wide expansion of their Player Account Management (PAM) and Omni-Channel experience, demonstrating his ability to drive innovation and scalability within complex environments. This experience is extremely valid to tribal and commercial casinos alike who are figuring out how to create an ideal connection between land based and digital experiences.

With additional experience across Class III and Class II gaming, and a deep understanding of US regulatory and technical complexities, Smith brings a unique perspective to Strive Gaming. Known for his hands-on approach to technical leadership, Smith is committed to driving innovation and excellence within the organization.

“I’m thrilled to join the talented team at Strive Gaming,” said Smith. “Having worked with their PAM product from a customer perspective, I have firsthand experience of its quality and potential. I am confident that together, we can further evolve the company and achieve our vision of becoming the number one PAM provider in North America.”

Smith’s appointment underscores Strive Gaming’s commitment to fostering innovation and delivering cutting-edge solutions to its clients. His vast experience and proven track record make him an invaluable addition to the leadership team.

“We are delighted to welcome Ian Smith to Strive Gaming as our new CTO,” said Max Meltzer, CEO of Strive Gaming. “Ian has rare characteristics; exceptional hands-on skill, experience and yet a sense of calm, humility and above all a desire to help talent around him flourish. This coupled with his extensive industry experience in the gaming industry make him the right person to lead our technical initiatives and helping the business achieve its goals”

 

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Star Sports sponsors new trainer Brian Toomey’s yard

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Former jockey who was pronounced dead for six seconds after a fall in 2013 has embarked on a new training career with some high-profile owners 

Star Sports is the new sponsor of Brian Toomey’s yard in Buckinghamshire.

The 34-year-old, who was forced to retire as a jockey after a horrific fall at Perth in 2013 which almost claimed his life, has embarked on his first full season as a trainer, based at Bowstridge Farm in Chalfont St Giles.

After being granted his trainer’s licence in October, he has already secured some high-profile owners, including Amo Racing, Clipper Logistics, Jimmy Fyffe and Jeff Smith. Harry Redknapp provided him with his first winner when Wake Up Harry won at Kempton on 20th December.

Toomey joins leading jockey Harry Skelton and recently retired legendary rider Davy Russell in Star Sports’ stable of racing ambassadors. He will provide regular updates on the yard’s runners, his views on the biggest races and meetings during the Flat season, and video content looking back at his career as a jockey, his recovery from the fall and life as a new trainer.

“Becoming a trainer has been a dream for a long time,” said Toomey. “My story is an unusual one and I know how lucky I am to be here.

“I’m hugely grateful to all the owners who have supported me at such an early stage of my career, my landlord at Bowstridge Farm as it’s such a brilliant place to train and now to my new sponsors, Star Sports.

“I’m looking forward to telling my story as a new trainer and updating Star Sports’ customers on our runners, as well as my views on the big races and issues in the industry.”

Luke Tarr, Head of PR at Star Sports, said: “Brian’s story is truly inspirational. To achieve what he has, both in his recovery from such a serious head injury and in his determined pursuit of a trainer’s licence, shows exactly what he is made of, and we are delighted to sponsor the yard.

“He has already attracted some massive owners and we’re excited to produce some top-quality content with Brian at the beginning of what we’re sure will be a very successful training career.”

 

 

The post Star Sports sponsors new trainer Brian Toomey’s yard appeared first on European Gaming Industry News.

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SPIN INTO A WORLD OF MYSTERY AND FORTUNE WITH SPIN 2 RICHES™

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 Inspired Entertainment, Inc. (“Inspired” or the “Company”) (NASDAQ: INSE) a leading B2B provider of gaming content, systems, and solutions is thrilled to announce its latest slot game, Spin 2 Riches™, now available the UK B3/LBO market. Offering players an unparalleled gaming experience filled with mystery symbols and Fortune Spins. Spin 2 Riches invites players to embark on a thrilling adventure where every spin brings the promise of untold riches.

In Spin 2 Riches, players can activate the Mystery symbol by playing at the max stake of £2. Watch in anticipation as the Mystery symbol appears, revealing a random symbol that could pave the way for even more significant wins. But the excitement doesn’t end there – prepare to be captivated by Fortune Spins. Land three Fortune Spin symbols on the centre win line to unlock Fortune Spins across four-reel sets, offering an alternative to the base game and presenting players with two thrilling options: 1 in 10 or 1 in 20 chances to win big.

Spin 2 Riches is now available in retail, ready to captive players with its immersive gameplay and thrilling awards.

Richard Terry, UK Market Product director said: “Spin 2 Riches is set to be a great addition to the ever-expanding B3 top Inspired titles. With its vibrant theme, exciting Mystery symbol mechanic and the addition of Inspired’s phenomenal resonantly branded Fortune Spins™, players are sure to enjoy an entertaining experience

The post SPIN INTO A WORLD OF MYSTERY AND FORTUNE WITH SPIN 2 RICHES™ appeared first on European Gaming Industry News.

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