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Gambling in the USA

PlayNJ.com: Sportsbooks cool to $950 million in January while online casinos reach $100 million in revenue

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New Jersey sportsbooks took in more than $950 million in wagers and a record $82.6 million in revenue in January while the state’s online casinos crossed $100 million in revenue, becoming the first legal gaming jurisdiction in U.S. history to cross that threshold in a single month. The Garden State’s opening salvo to 2021 sets the stage for a year in which the state could reach $10 billion in sports wagers and more than $1 billion in online casino revenue, according to analysts from PlayNJ.

“New Jersey’s online casinos and sportsbooks have defied conventional wisdom from the beginning, and are hitting milestones that many thought would take years longer to reach,” said Dustin Gouker, lead analyst for PlayNJ.com. “The rapid maturation of the online products in New Jersey has made the state the new standard bearer for the modern U.S. gaming industry.”

New Jersey’s sportsbooks fell short of breaking the all-jurisdiction handle record for the sixth consecutive month by collecting $958.7 million in wagers in January, according to official data released Wednesday. That is up 77.5% from $540.1 million in January 2020.

Operator revenue rose to $82.6 million in January, up 29% from $53.6 million in January 2020 and topping December’s record-breaking $66.4 million. And with $10.4 million in state taxes in January, sportsbooks have now generated $107.3 million for the state since launching in June 2018.

The brisk opening month builds momentum for what should be another leap forward this year. If the growth continues through the year, the state could reach nearly $10 billion in sports bets, more than $600 million in revenue, and $75 million in state and local taxes, according to PlayNJ projections.

“2020 was an unusual year, obviously, so year-over-year growth is a good bet so long as the sports schedule remains intact,” said Eric Ramsey, analyst for PlayNJ.com. “Considering the current momentum of New Jersey’s market, the year could really bring some eye-popping results, especially if the retail market can return to health.”

Online betting generated 92.5%, or $886.7 million, of the state’s total handle in January. FanDuel Sportsbook/PointsBet was again the market leader with $41.8 million in gross revenue, up from $29 million in December.

FanDuel was followed in revenue by:

  • Resorts Digital/DraftKings/Fox Bet ($15.7 million, up from $15.4 million in December)
  • BetMGM/Borgata ($7.9 million, up from $6.3 million)
  • Ocean Casino/William Hill ($4.2 million, up from $3.2 million)
  • Monmouth/William Hill/Sugarhouse/TheScore ($2.3 million, down from $3.3 million)
  • Hard Rock/Bet365/Unibet ($1.5 million, up from $562,188)
  • Caesars Sportsbook/888sport ($375,129, down from $489,141)
  • Golden Nugget/BetAmerica ($176,199, down from $343,849)
  • Tropicana/William Hill ($76,933, down from $108,427)

Retail sportsbooks began to rebound with $72.1 million in bets, up from $67 million in December. Meadowlands/FanDuel topped retail books in January with $5 million in revenue.

Predictably, the NFL playoffs — which featured an expanded format this year — attracted heavy action, fueling $201.8 million in football wagering in January. But college basketball and the NBA, which enjoyed its first full month of its season, placed basketball first with $320.3 million. And sports categorized as “other,” which includes NHL betting, topped football with $214.4 million.

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“With the NHL back in action and the NBA with a full schedule, January’s sports schedule was more or less normal for the first time since February 2020,” Gouker said. “That gives us a reliable barometer for where New Jersey is as a sports betting market.”

Online casinos and poker

New Jersey’s online casinos have been on a roll themselves, hitting $100 million in combined casino games and poker revenue for the first time. In all, online gaming and poker generated $103.8 million in January, up 88.4% from $55.1 million in January 2020 and topping the previous record of $99.5 million set in December. January’s win yielded $15.5 million in state taxes.

Online gaming continues to be one of New Jersey’s great success stories. Its year-over-year revenue is a continuation of a long pattern of growth that has now generated $2.6 billion  in operator revenue since launching in November 2013.

“Online casino games continue to show no signs of letting up,” Ramsey said. “Obviously with pandemic-related restrictions in place on Atlantic City casinos, online casinos were in position to pick up some slack. But the online gains made over the last year should withstand the reopening of retail casinos, continuing to buoy the entire gaming industry.”

Some other highlights from January’s report:

  • Borgata inched closer to the Golden Nugget, which has led the online casino market for years. Borgata generated $28.7 million in January revenue, which was just behind the Golden Nugget’s $31.2 million in January revenue. Resorts Digital, which has also made significant gains over the last year, was third with $22.8 million.
  • Online casinos and poker generated $3.3 million a day over 31 days in January, up from $3.2 million a day over 31 days in December.
  • Revenue from online casinos was $101 million, up from $96.4 million in December. Online poker produced $2.7 million, down from $3 million in December.

For more information and analysis on regulated sports betting and online gaming in New Jersey, visit PlayNJ.com/news.

Gambling in the USA

BMM INNOVATION GROUP SHOWCASES ITS SUPPORT FOR TRIBAL SOVEREIGNTY AT INDIAN GAMING CONFERENCE & EXPO MARCH 31 – APRIL 3 AT SAN DIEGO CONVENTION CENTER

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Company to sponsor, attend, and speak at the San Diego, California show.

BMM Innovation Group (“BMM,” “BIG Group,” or “BIG”), a technology conglomerate focused on product compliance testing, cybersecurity solutions, and virtual training for the global gaming industry, today announced its sponsorship and participation in the Indian Gaming Association’s (“IGA”) annual IGA Conference & Expo, March 31-April 3 at the San Diego Convention Center.

With over three decades of experience supporting Tribal gaming, BIG will be on-site as sponsors, speakers, and attendees to reinforce the Company’s steadfast commitment to Tribal sovereignty and self-regulation.

Proud Partners in Tribal Progress

The BIG Group’s Chairman, President, and Chief Executive Officer Martin Storm said, “BMM proudly partners with Tribal governments, Tribal casinos, and Tribal gaming equipment and technology suppliers to advance Tribal sovereignty, self-determination, and economic development. We are honored to continue supporting the growth and integrity of Tribal gaming through our trusted product compliance services, world-class training and virtual education, and our cybersecurity solutions to protect Tribal enterprises.”

BMM’s long-standing relationships with Tribal gaming suppliers and regulators are at the heart of its mission. As active members of IGA and other key Tribal organizations, BIG is committed to elevating Tribal voices and ensuring Tribal interests remain at the forefront of industry growth.

BIG Group Shares Thought Leadership on Conference Panels and Trainings

  • In addition to sponsoring and attending, the BIG Group’s expert thought leaders will speak and provide in-person training at the conference:
  • Tuesday, April 1 at 9 am: Innovation vs. Regulation: Keep Pace with Emerging Gaming Technologies – Sean Mason, Senior Director of Tribal Services
  • Tuesday, April 1 at 4 pm: Gaming and Cyber Risk Best Practices – Mitigate Risk and Sleep Better at Night – Heather Lee, Senior Director of Sales for BIG Cyber
  • Wednesday, April 2 at 9 am: Level III Commissioner Certification Training – Peter Nikiper, Director of Technical Compliance

Unmatched Expertise in Product Compliance and Certification

As a trusted testing laboratory for Tribal gaming jurisdictions across North America, BMM’s focus is fairness, integrity, and security in every gaming environment. IGA attendees are invited to connect with BMM experts to learn more about the Company’s comprehensive product compliance programs.

Education & Training for Long-Term Success

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BIG continues to empower Tribal gaming employees through exclusive education and training programs, including free access to RG24seven Virtual Training. These knowledge-sharing initiatives are designed to support responsible gaming, regulatory compliance, and the long-term sustainability of Tribal gaming operations.

Cybersecurity Solutions Tailored for Tribal Gaming

The BIG Group is focused on bolstering cybersecurity defenses for Tribal enterprises through its BIG Cyber services, which includes penetration testing, vulnerability assessments, PCI:DSS evaluations, and a host of managed security services featuring CYREBRO’s Security Operations Center, KnowBe4’s security awareness training, and Maxxsure’s risk management platform.

 

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Gambling in the USA

Bruce Smith Enterprise and The Cordish Companies Break Ground on New Live! Casino & Hotel in Petersburg, Virginia

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Bruce Smith Enterprise and The Cordish Companies Break Ground on New Live! Casino & Hotel in Petersburg, Virginia

 

Bruce Smith Enterprise and The Cordish Companies celebrated the groundbreaking of the new LIVE! CASINO & HOTEL VIRGINIA in Petersburg. The milestone officially commences construction on a transformative project that will generate billions of dollars in economic benefits and spinoff development, create thousands of new jobs, and set a new standard for gaming, hotels, and entertainment in the Commonwealth. Live! Casino & Hotel Virginia is part of a larger $1.4 billion master plan by the partnership, scheduled to be developed in phases, that will bring a world-class mixed-use resort destination to Petersburg.

Executives from Bruce Smith Enterprise, The Cordish Companies, and Cordish Gaming were joined by Petersburg City Mayor Sam Parham and members of Petersburg City Council, Virginia State Senator Lashrecse Aird, Virginia State Delegate Kim Taylor, and many other business and community leaders at the project site in Petersburg. The development site, ideally located on Brasfield Parkway at the intersection of Wagner Road and Interstate I-95 just 20 miles south of Richmond, will provide easy access on and off the East Coast’s major north-south interstate.

“It has been a source of immense satisfaction and pride to partner in this incredible development. For far too long people have simply driven by the City of Petersburg, but today marks the beginning of a new era in which Petersburg will become a prime destination. This pivotal project will ignite tourism, create jobs, and ultimately deliver on the promise of greater opportunity and upward mobility for local families. As a champion of Petersburg and its residents, I am happily confident that this historic development will uplift, empower, and enrich this community for years to come,” said Bruce Smith, founder of Bruce Smith Enterprise.

Live! Casino & Hotel Virginia is slated to open in 2027. A temporary gaming facility will open by the end of 2025 to immediately begin creating an estimated 500 new jobs, vendor opportunities and economic benefits for the City. In its first 10 years, the project is expected to generate $2.8 billion in economic stimulus to the region; $504 million in tax revenues including $240 million to the City of Petersburg; $802 million in economic benefits during construction; $201 million in annual economic benefits each year after opening; and 7500 new jobs including 6100 during construction and 1400 new permanent jobs.

“Today marks a monumental day for The Cordish Companies as we expand our Live! brand into the Central Virginia region with the development of Live! Casino & Hotel Virginia. Our company is a national leader in successfully developing and managing large-scale urban revitalization projects across the country. Live! Casino & Hotel will be a transformative development that will bring a world-class gaming and entertainment experience to millions of visitors, create significant new jobs, and generate millions of dollars in economic benefits for the community that will provide a beneficial impact for generations. We look forward to making an immediate impact on the region with the construction of a temporary gaming facility that will be operational before the end of 2025, so that we can begin creating jobs, vendor opportunities and economic benefits for the City,” said Zed Smith, Chief Operating Officer for The Cordish Companies.

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Gambling in the USA

PENN Entertainment Launches Stand-alone Hollywood Casino App in New Jersey

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PENN Entertainment announced that its stand-alone Hollywood Casino app has launched in New Jersey. The new Hollywood Casino platform is available on Android, iOS, and desktop and can also be accessed via the ESPN BET app. Customers can login to Hollywood Casino using their ESPN BET credentials, allowing for a seamless experience across PENN’s online betting and casino platforms.

Ranked by Eilers & Krejcik as the #2 overall iCasino product in the US, Hollywood Casino offers a variety of online slots, table games, and live dealer content, including original titles from PENN Game Studios, the company’s in-house casino game development studio. Hollywood Casino also includes bespoke live dealer tables and exclusive games such as the recently launched Devils Blackjack, an original title leveraging PENN’s partnership with the New Jersey Devils.

“We’re thrilled to introduce our dedicated, casino-first experience to customers across New Jersey. Hollywood Casino delivers a best-in-class experience with an extensive game library, seamless gameplay, and exclusive content from our in-house studio. This launch builds on the strong momentum we’ve gained since introducing our enhanced standalone app in December,” said Aaron LaBerge, Chief Technology Officer of PENN Entertainment.

The stand-alone Hollywood Casino platform debuted in Pennsylvania last December and is also available in Michigan.

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