December AC Sportsbook Revenue Soars, Nearly Setting NJ Record with $109M

posted by Theodora
January 29, 2024

The December AC sportsbook revenue contributed to the new height of the sports betting scene in New Jersey, contributing to the market’s finest year in its five-year history. The Division of Gaming Enforcement‘s most recent statistics show that bets came to a total of almost $12 billion, a 9.5% increase over the previous year.

December proved to be a historic month, ranking third in state history with a $1.28 billion monthly transaction. This article will examine the particulars of December’s AC sportsbook earnings, taking a close look at key players, revenue sharing, and the wider implications for the state of New Jersey’s sports betting industry.

December AC Sportsbook Revenue Drives NJ’s Record Year End

The December AC sportsbook revenue was critical in propelling New Jersey’s sports betting sector to new heights, paving the way for a solid start in 2024. The month saw a stunning $1.28 billion transaction, which contributed considerably to the amazing $5.5 billion wagered from September and December. This rise in activity resulted in an annual income of more than $1 billion for New Jersey’s sportsbooks, with the state earning around $128.9 million in taxes from legal sports gambling in 2023.

The revenue split for December showcases the dynamic performance of both land-based sportsbooks and racetrack-associated sportsbooks. Land-based sportsbooks inside Atlantic City casinos reported $52.4 million in revenue, while racetracks and their partners combined for another $57 million. For the year, sportsbooks associated with Atlantic City sports gambling generated $471.7 million in revenue. Moreover, racetrack-associated sportsbooks posted an impressive $534.9 million.

Tax contributions from retail and online sports betting further underscored the financial impact of December’s AC sportsbook revenue. In 2023, retail sports betting—which is subject to an 8.5% sales tax—will bring in $3.3 million for the state. However, sports gambling on the internet and through mobile devices, which is subject to a 13% income tax, brought in a substantial $125.6 million.

AC Sportsbook December Gains, Resorts and Meadowlands Take the Forefront

Resorts Casino Atlantic City was a notable performer in December, bringing Atlantic City sportsbook revenue of $34.8 million attributed mostly to its online partner, DraftKings Sportsbook NJ. Because of the popularity of BetMGM Sportsbook NJ, Borgata was able to secure a position among the top performers with $7.1 million in revenue. The December AC sportsbook revenue was Hard Rock Atlantic City‘s second-best month ever, with $4.1 million in sales. So, the hotel enjoyed a great year overall.

However, the undisputed leader for the third consecutive month was Meadowlands Racetrack, featuring partners such as FanDuel Sportsbook NJ and PointsBet Sportsbook NJ. Meadowlands reported an impressive $51.1 million in December revenue, surpassing the combined total of the next four license holders. The collective performance of these casinos, amounting to $109M is summarized in the table below:

LicenseeOnline Brand(s)Total RevenueRetail RevenueOnline RevenueTotal Tax Obligation
Resorts Atlantic CityDraftKingsFox BetResorts$34,770,218($70,886)
Borgata Casino ACBetMGMBorgata$7,054,981$507,191$6,547,790
Hard Rock Atlantic CityHard Rockbet365Unibet (*ceased operations)$4,127,202$151,622

December’s High Notes Set the Stage for NJ Sportsbook’s Future Success

The December AC sportsbook revenue marked a pivotal moment for New Jersey’s sports betting industry, securing its position as the third-best month ever. The standout performances of major players such as Resorts Atlantic City and Meadowlands Racetrack highlight the industry’s robustness and capacity for expansion within the Atlantic City sportsbook revenue sector. As New Jersey continues to grow in the sports betting industry, the favorable economic effect and significant tax contributions demonstrate the sector’s critical role in defining the state’s financial environment. With optimism on the rise, the setting is set for New Jersey’s sports betting market to thrive and expand in the coming years.

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