Daily Archives: November 19, 2024

Chris Christie has plenty to say about gambling legalisation. But is he right?

New Jersey's former governor spouted off about chances of legalisation in Texas and California last week. But he's way off the mark.

In an interview with Covers about the state of legal gambling in the US last week, the former New Jersey governor revealed that he is out of touch. Although he and his administration spearheaded the lawsuit that resulted in legal sports betting across the US, Christie would be wise to speak of what he knows.

Or as gaming consultant Brendan Bussmann said: “Texas and California are beasts unto their own and have their own political dynamics, which make them their own markets. This isn’t waving pixie dust on everything and making sports betting happen like one former governor seems to think.”

Christie’s comments about California showed clear ignorance about the state of gambling expansion in the biggest state in the nation. And about how gambling politics work there. Not once did he mention California’s tribes, which have exclusivity for gaming..

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New Jersey igaming revenue record tumbles again in October

New Jersey reported a 2.6% year-on-year increase in gambling revenue during October, driven by another record breaking month for igaming.

Meanwhile, the Garden State’s sportsbook operators showed evidence of player-friendly NFL results hitting performance. Major operators have flagged this as a risk to fourth quarter revenue in their Q3 results.

Total gaming revenue in New Jersey across all channels and verticals was $499.8 million (£394.4 million/€472.5 million) in October. This exceeds last year’s $487.1 million monthly total but falls 10.5% short of $558.3 million in September this year.

Licensees paid $55.0 million in taxes for the month, with internet gaming again the main driver. It contributed $31.9 million to that total from a 15% gross revenue levy. Brick-and-mortar casinos (taxed at 8% of GGR) added a further $13.0 million, with $9.9 million and $194,771 coming from online (13% tax) and retail sports betting (8.5%) respectively.

Igaming revenue surpasses land-based casin..

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