Sports betting growth drives revenue growth in New Jersey.

In November New Jersey total gaming revenue rose 9.4% YoY to $482.4m contributing to a 10.5% increase in the year to date figure to $5.26bn.

Notably sports betting saw the highest growth, up 19.2% to $95.9m, while igaming revenue increased by 17.4% to $171.6m. In the landbased sector, casino win edged up 0.2% to $214.9m.

Entain after appointing Stella David as interim CEO made additional appointments.

 

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The growth in total gaming revenue in New Jersey in November is certainly encouraging. With a year-on-year increase of 9.4%, reaching $482.4 million, it is clear that the gambling industry in the state is thriving. Moreover, the year-to-date figure has seen a significant boost, with a 10.5% increase to $5.26 billion.

Sports betting stands out as the major driver of growth, experiencing a substantial 19.2% increase and generating $95.9 million in revenue. This is a testament to the rising popularity of sports betting in New Jersey, which is likely a result of the broader trend of the legalization and expansion of sports betting across the United States.

The iGaming sector also experienced notable growth, with a 17.4% increase in revenue to $171.6 million. This demonstrates the continued importance of online gambling as a revenue source for the industry.

In contrast, landbased casinos reported a more modest growth in casino win, edging up by 0.2% to $214.9 million. This could be attributed to various factors, such as increased competition from online gambling and changing consumer preferences.

Regarding the appointment of Stella David as interim CEO of Entain, it is a significant development for the company. Leadership changes can bring a fresh perspective and new direction, which can be advantageous for any organization. It will be interesting to see how these additional appointments will shape the future of Entain and how they contribute to the overall growth of the company.