Connect with us

Gambling

New Jersey gambling revenue up in April despite land-based decline

Published

on

Gambling revenue in New Jersey hiked 10.4% year-on-year to $510.9m (£403.7m/€470.6m) in April with increases across the igaming and sports betting segments more than offsetting a decline in the land-based market.

Total revenue was comfortably higher than $462.7m in April last year. However, the figure fell 3.0% short of the $526.6m reported in New Jersey in March this year.

Beginning with land-based casino, this remains the primary source of gambling revenue in the Garden State. However, the $216.8m generated in April is 6.3% behind $231.5m last year.

Physical slot machine revenue declined by 6.4% to $158.8m while land-based table games revenue also fell 6.1% to $58.1m.

Further igaming success for New Jersey

Turning to the igaming sector, the situation is very different. Revenue from all igaming in April hit $187.9m, up 18.2% year-on-year. This means igaming was only $28.9m behind the long-established land-based segment in April.

Some $185.6m of all igaming revenue was attributed to online slot games, with revenue here rising 18.5% to $185.6m. However, revenue from peer-to-peer poker slipped 0.5% to $2.3m.

As for individual operators. Golden Nugget leapt from third place to take top spot in New Jersey in April. Posting igaming revenue of $53.1m, this is 27.5% ahead of the previous year.

Resorts Digital retained second place with $47.5m, up 13.9% year-on-year. Borgata, which was top in March, followed in third on $44.1m, a rise of 2.2%. 

Sports betting revenue almost doubles to $106.2m

Looking now to the sports betting market, revenue here jumped by 46.9% year-on-year to $106.2m. This is also 74.1% ahead of $61.0m in March this year.

The year-on-year revenue rise was helped by a 12.6% increase in handle, with this reaching $1.044bn in April. Player spend on online sports betting hit $1.01bn and retail sportsbooks $34.7m.

Meadowlands remains the runaway leader in the New Jersey sports betting market, posting $73.2m in revenue, up 92.2% on 2023. Meadowlands works with Flutter Entertainment-owned FanDuel.

Resorts Digital and partner DraftKings placed a distant second with $18.9m in revenue, down 6.6%. Borgata and BetMGM took third on $5.2m, a drop of 21.6%.

New Jersey gambling revenue surpasses $2.00bn in four months

As for the year-to-date, total gambling revenue in New Jersey hit $2.06bn in the four months to the end of April. This is 14.4% more than in the same period last year.

Land-based revenue was down 1.6% at $872.9m, with declines across both slots and table games.

Igaming revenue was 21.1% higher at $750.7m, driven by a 21.5% rise in slots revenue to $741.3m. In contrast, peer-to-peer poker revenue declined 3.7% to $9.4m

As for sports betting, the four-month total hit $434.2m. This is up 48.6% from $292.3m in 2023, with players spending a total of $5.17bn in the process.

Continue Reading