Meadowland’s FanDuel Sportsbook Eclipses $10 Million In Revenue For 2019

• The Meadowlands is responsible for more than half of the year’s tax contributions.
• The three skins for Resorts Casino have led the online sports betting handle.
• Over $1.16 billion has been wagered in New Jersey since January 1.

ATLANTIC CITY, N.J. – The New Jersey Department of Gaming Enforcement released April’s sports betting revenue numbers on Tuesday.

With the newest information, the FanDuel Sportsbook at The Meadowlands has surpassed $10.2 million in revenue this year for land-based wagering only. Add in the $34.5 million for online revenue, and we have a clear leader in the legal New Jersey sports betting market.

Throughout 2019, the Meadowlands has been responsible for 52.1% of all tax contributions to the state from the ten casinos and racetracks offering sports betting. In April alone, the Meadowlands contributed 56% of all tax contributions, which indicates they show no signs of slowing down.

April’s Sports Betting Revenue

Land-based revenue for NJ sportsbooks reached $4.6 million – the second highest monthly total of 2019 behind last month’s madness. For online revenue, the sportsbooks kept $16.5 million, where the skins for Resorts Casino, Meadowlands, and Monmouth Park accounted for almost 93% of the total.

With this hold, total tax contributions to the state were just above $2.5 million for the month.

We saw another month of high internet wagering activity ($254 million), as just under 81% of all betting action ($313 million) occurred through online platforms.

Sports Betting Action By Sportsbook

Bally’s remains right in the middle of the pack, as they finished the month with the fifth highest land-based revenue and online revenue of the books. Their $351,363 in total revenue came mainly from online action, which surpassed $270,000.

Borgata took a tough hit in the online wagering department this month, as the book lost almost $25,000. With the near $50,000 earned from their land-based action, they only were responsible for contributing $993.24 to the state – the lowest of the ten sportsbooks.

The Golden Nugget ended up in the red for land-based revenue but only by $176. Their $5,106 tax contribution came solely from their online platform, where they kept almost $40,000.

Hard Rock posted their best month since their December launch date. With $130,750 in total revenue, they were evenly balanced in land-based revenue ($49,137) and online revenue ($81,613).

Harrah’s has been behind the group, as they are the only one without an active online presence. However, their name recognition seems to be working for them, taking in almost $75,000 from their land-based action. They have officially contributed $10,000 to the state in tax contributions since the beginning of the year.

Ocean Resorts brought in the fourth most revenue this month even though they lost $37,007 at the retail location. Their online book, partnered with William Hill, brought in almost $875,000, before giving $110,570 to the state.

Resorts Casino is the second in command, thanks to their heavy online presence. For about the last month, they have led in overall online revenue ($53,085,082) since the industry launched last year. Coming in $3.3 million ahead of the Meadowlands, Resorts doesn’t have anything to prove. Through their DraftKings, BetStarsNJ, and ResortsCasino online platforms, they were able to bring in $4.7 million in monthly online revenue.

Aside from their October launch and the pitfall of February’s Super Bowl betting, Tropicana posted their worst moth in terms of total revenue. The near $77,000 kept required the book to only contribute $5,630 to the state. This came with no help from their online platform, which posted a monthly loss of $20,279.

For the racetracks, we have gone into detail about the Meadowlands, but there is always more to say. The only book to record revenue over $1 million for both land-based wagering ($3.3 million) and online betting ($8.8 million), the Meadowlands contributed $1.4 million to New Jersey this month. FanDuel has even talked about creating a $8.3 billion market in the US.

Last but certainly not least is Monmouth Park. This track posted the second highest land-based revenue ($761,316) and the third highest online revenue ($1.79 million). Monmouth Park was responsible for giving over 11% ($297,549) of the total tax contributions to the state – not bad when you consider Resorts Casino and the Meadowlands accounted for 81% of all contributions.

Year to date, New Jersey has seen their handle fall only $8.2 million short of reaching $1.4 billion. With $4 out of every $5 being wagered online, it’s no surprise that the online year to date handle has surpassed $1.16 billion. For land-based action, the sportsbooks have seen $275,714,672 enter into the system, which is more than every other legal sports betting states’ total online and land-based handle (sans Nevada).

Being a third of the way through the year, everyone will be keeping their eye on whether New Jersey can surpass Nevada as the top gambling destination. Whichever ways it works, New Jersey sportsbooks are primed and have proven to be a major benefit to the local and state government.

News tags: FanDuel | New Jersey | NJ revenue | sports betting