The Nugget, with its multiplicity of skins, was the market share leader in Internet gambling, however, with 30% ($26 million). Resorts Digital and Borgata ($20 million) were almost as dominant, each garnering 23%. Sports betting generated $748.5 million in handle, what with an unprecedented four major leagues in play at once. The previous betting record of $668 million was crushed, thanks to the NFL. “The growth seen over the last two months will likely level off once the sports schedule returns to normal. But it’s clear New Jersey’s sports betting industry is setting a new floor,” said analyst Dustin Gouker. Online wagering represented $679 million (91%) of the action. FanDuel/PointsBet was foremost with $25 million, five times as much as the next-closest competitor, Resorts Digital/DraftKings/Fox Bet. Retail sports books divvied up $70 million, led by FanDuel’s Meadowlands book.
Something fishy is going on at Bally’s Atlantic City. The New Jersey Casino Control Commission scrubbed its Oct. 18 meeting because there were no “actionable” items on the agenda. That means they won’t be holding the scheduled vote on the sale of Bally’s to Twin River Holdings. Executives for the latter claim they’re moving ahead with the deal, which will entail paying Caesars $25 million, building a new sports book and “refurbished rooms and additional suites, new restaurant brands, more gaming options, renovated meeting and convention space, and an ‘enhanced’ spa and pool area.” However, we suspect that Caesars—having been taken to the cleaners by Twin River—is trying to run out the clock so that it can retain four casinos in Atlantic City and have an oligopoly on the marketplace. We’ll presumably know for sure when the NJCCC reconvenes on Nov. 18. In other news, Borgata reopens its poker room next week. Deal up!
In Detroit, casinos remained restricted to a draconian 15% occupancy quota. They managed to gross $88 million, still a 22% shortfall (we’re surprised it wasn’t worse). Greektown fell 27% to $19.5 million, MotorCity was off 17% to $32 million, while MGM Grand Detroit slid 22% but retained top-dog status with $36 million. Get well soon, guys.
In this area, AC might be considered a destination of little choice, still somewhat more interesting than going to both Walmart and Target on the same day. As for conventions, the casinos never seemed to cooperate with the public relations people over modest cost rooms during the short summer season to support any substantial sized conventions. The AC airport is the FAA research facility + Spirit Airlines. The AC airport runway easily handles a 747, believe their only 747 customer in years has been Air Force One. Unless we can declare Florida or Myrtle Beach to be a foreign country, AC can never be called “International” since Air Canada dumped AC years ago.
As to Bally’s, New Caesars may have determined they know how to run a worn-out casino, but wait…Old Caesars did the wearing out.