FROM THE TOP
FROM THE TOP: BREAKING RECORDS With New Jersey’s gaming figures for November demonstrating monumental sums, Tim Poole takes a closer look at the numbers consistently setting the bar in the Garden State. It's no wonder operator 5Dimes wants to enter the regulated sports betting market after years of offshore activity. Just look at the results being produced in New Jersey on a monthly basis, where a new record is broken with seemingly every new financial report. Back in September, black market brand 5Dimes reached a $46.8m settlement with the US Government, announcing its intentions to suspend US operations from 21 September and relaunch as a regulated sports wagering operator. In a past issue of From the Top, we analysed the media’s role in not promoting offshore operators like 5Dimes, inspired by an open letter from American Gaming Association CEO Bill Miller. His main message was that if players are not educated about 6 GAMINGAMERICA
the nature of illegal operators, not only are players left at risk but there is less of an incentive for companies to follow the law. The media’s role is understandably an important one, especially when national outlets possess such a wide reach. But another huge incentive for any business is, of course, profit. And November’s gaming figures for New Jersey offered perhaps the single biggest reason any offshore operator should turn to the regulated market. Sure, total gaming revenue was down to $288.9m, but only by 6% year-on-year, remarkable in itself considering Atlantic City casinos are operating at a restricted capacity. Online gaming win was $91.8m, almost doubling, while sports betting revenue was 9% up to $50.6m. Retail casino win was down 35% to $146.6m, showing just
