In New Jersey, gambling revenue increased in February over the previous year despite the Garden State’s land-based casino market reporting an annual decline.
Revenue for February amounted to $461.5m (PS362.4m/EUR423.8m). It was 12.0% more than the $412.2m New Jersey had last year, but still 17.5% less than January’s total of $559.1m.
New Jersey’s revenue in February was dominated by land-based gaming. The $211.6m reported was only 1.6% below the projected $215.0m for 2023, and it also marked the second consecutive monthly decline.
Slot machines accounted for $158.9m, a slight decrease from the $159.3m recorded in previous years. The table games revenue also fell 5.3%, to $52.7m.
New Jersey igaming revenue grows another month
The igaming industry has grown significantly in contrast to land-based gaming. The revenue here was $27.9% more at $182.3m. It was only a little less than the $183.3m record reported in January.
The slot machines accounted for 180.0m dollars of the total online gaming revenues, an increase of 28.3%. Peer-to-peer Poker brought in $2.3m, a 0.4% increase.
Golden Nugget remained the leader in the online gaming market with a revenue of $51.5m. Resorts Digital was second with $48.0m and Borgata third on $40m.
The Sports Betting Revenue Tops $66.6m
Sports betting revenue also increased by 23.7% to $67.6 million. This was still a far cry from the $170.8m record set in January, despite the NFL Super Bowl finale taking place at the end of February.
New Jersey bet $1.08bn total in February. This is a 27.6% increase over last year. Online, $1.04bn in wagers was placed. This is on top of $37.9m wagered at sportsbooks throughout the state.
Meadowlands took the top spot on the sports betting industry again with revenues of $35.1m. For sports betting, the racecourse has partnered up with FanDuel and PointsBet.
DraftKings and Resorts World were ranked second with a revenue of $24.2m. Borgata, BetMGM and Resorts World ranked third in this segment with $4.5m monthly revenue.
New Jersey’s revenue for the year has already exceeded $1.00bn
The state has seen a revenue increase of 20.2% in the first two months. The revenue for the first two months of 2019 was $1.02bn, which is 20.2% more than $849.1m in 2023.
New Jersey’s land-based revenues were 2.4% less at $416.3m. However, growth in other areas puts the state on course for a possible record year.
Sports betting revenues increased by 87.7%, to $238.3m. Online gambling revenue grew 23.7% at $365.6m.
New Jersey is on track to have a record-breaking year in terms of igaming, sports betting and total revenue.
Rebuck leaves New Jersey regulator
These figures are a result of David Rebuck resigning as Director of New Jersey Division of Gaming Enforcement at the end of last month.
Rebuck was the longest serving director of the New Jersey regulator, having served for more than 13 years. He served in the Garden State more than three decades.
Mary Jo Flaherty, the deputy director of DGE has been appointed interim director. Flaherty was appointed deputy attorney general at the DGE in January 1988. She provided legal advice as well as legislation.
