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SportsTranscript
00:00 (upbeat music)
00:03 - All right, let's move over to New Jersey.
00:04 We've got an increase in sports betting revenue,
00:07 not a huge surprise here,
00:08 but maybe a surprise in this jockeying back and forth
00:11 as to the company that is on top
00:15 over the last few months here.
00:17 So who do we have here at number one and number two?
00:19 - Yeah, so pretty interesting stuff
00:22 coming out of New Jersey in July.
00:27 Last month, Craig, like we talked about a few weeks ago,
00:31 the racetrack that kind of oversees
00:36 the couple of different operators
00:39 that are tied to a single Atlantic City casino
00:42 or a authorized racetrack in New Jersey,
00:46 we had DraftKings part of that group
00:49 that took over the top spot in New Jersey revenue in June,
00:55 which was the first time in a while
00:57 that they were able to do that.
00:59 In July, we saw FanDuel.
01:02 It's the group that includes FanDuel
01:06 and obviously is headlined by FanDuel.
01:09 They reclaimed that top spot in revenue in New Jersey.
01:14 So yeah, a little bit of a back and forth between the two.
01:18 I mean, FanDuel is pretty much the clear cut leader there.
01:22 But what's interesting to me is when you look
01:26 at the New Jersey market and how it's kept up,
01:31 if you will, since New York launched
01:34 its online sports betting,
01:36 and the revenue side for New Jersey
01:39 has been doing quite well year over year.
01:42 Their revenue, comparing one month in 2023,
01:46 July, for example, this year to July last year
01:52 was an increase, and it's been eight straight months
01:55 where New Jersey operators have had an annual increase,
02:00 year over year increase in revenue.
02:04 So we saw some impact, obviously, from New York
02:09 when they opened up kind of chewing
02:13 into that New Jersey market,
02:14 but seems like things are settling down a little bit.
02:17 And like I said, the operators have had a string
02:20 of eight straight months now where they've been able
02:24 to increase that year over year revenue.
02:27 So some positive signs coming out of New Jersey,
02:30 and obviously something that I'll continue to keep an eye on
02:33 as we round out the summer
02:35 and head into the teeth of the NFL season.
02:38 (upbeat music)
02:41 [MUSIC]