..

National Gambling Firms 'Getting Smoked' by Regional Sportsbook Operators

Written by:
Aaron Goldstein
Published on:
Mar/19/2019

Why are the national gambling companies Caesars (CZR) and Penn National (PNG) underperforming with their sportsbook operations both in Pennsylvania and New Jersey when compared to regional companies?


START YOUR OWN SPORTSBOOK FOR JUST A SMALL FEE PER WEEK PER PLAYER HERE

Sports betting industry expert Joe Brennan, Jr. tweeted this Monday:

In PA sports betting, two national companies (CZR and PNG) are getting smoked by two regional companies (Rush Street, owners of SugarHouse and Rivers - and Greenwood, owners of Parx and South Philly). National co. getting smoked in NJ too. Why such small numbers?

The numbers don't lie.

Harrah's is owned by Caesars.  They reported a handle of $2.9 million while Penn National had a handle of $3.7 million.

Those look like good numbers, right?

Not when compared to SugarHouse and Rivers.

SugarHouse sports handle was just over $7 million, Rivers just over $8 million.

Penn National operates the Hollywood Casino near Harrisburg.  Overall, this casino finished in the middle of the pack in terms of all gambling revenue.

Harrah's operates in the Philadelphia area and was down nearly 7% ($20,455,490 revenue) for all gambling.

Here are the state's overall numbers:

Total Handle: $31,500,741.94 (Down from $32,011,838.76 in Jan.) - Gross Rev: $1,946,816.50 (Down from $2,607,215.09 in Jan.) - State Tax Due (34%): $661,917.61

Rivers Sportsbook lead in handle and revenue for the month.

- Aaron Goldstein, Gambling911.com

Gambling News

The Coronavirus Could Lead More States To OK Sports Betting And Internet Gambling

The Coronavirus Could Lead More States To OK Sports Betting And Internet Gambling

The coronavirus pandemic could lead to a quicker expansion of sports betting and internet gambling in the U.S. as states deal with huge budget deficits and look for new tax revenue wherever they can find it. 

Is Draftkings Sportsbook Legal From Louisiana?

Is Draftkings Sportsbook Legal From Louisiana?

Draftkings does not accept customers from the great state of Louisiana.  A number of other top online sportsbooks are accessible from the state, including Jazz Sports, which is offering a generous welcome bonus with a maximum of $1000.

California, Ohio, Louisiana Sports Betting in Play, Plaza Hotel & Casino Set to Reopen

California, Ohio, Louisiana Sports Betting in Play, Plaza Hotel & Casino Set to Reopen

The likelihood of mobile sports betting coming to California is not very good but land-based tribal casinos could offer in-person wagering at some point.

Man Charged in Scheme That Used Bitcoin to Buy Personal Data

Man Charged in Scheme That Used Bitcoin to Buy Personal Data

A New Hampshire man has been charged in a fraud scheme that involved using Bitcoin to buy stolen personal data belonging to people across the country, officials said. 

Ace Per Head Platform

Ace Per Head Platform

If you are looking to book action, then the first thing you are going to need to do is getting set up with a pay per head service.

Syndicate