The gambling revenue of New Jersey increased 10.4% on an annual basis to $510.9 million (PS403.7m/EUR470.6m). Increases in igaming, sports betting and online gaming more than offset a drop in the traditional land-based casino market.
The total revenue in April was higher by a comfortable margin than the $462.70m reported last year. The figure was still 3.0% below the New Jersey March 2015 revenue of $526.6m.
The Garden State’s primary gambling revenue source is the land-based casinos. The $216.8 million generated in April was 6.3% less than the $231.5m of last year.
The physical slot machines revenue fell by 6.4%, to $158.8 million. Table games revenues also dropped 6.1%, to $58.1 millions.
New Jersey continues to enjoy igaming successes
The situation in the igaming industry is quite different. In April, revenue from igaming totaled $187.9m. This represents an increase of 18.2% on the previous year. In April, igaming revenue was just $28.9m less than the land-based segment.
Online slot machines accounted for $185.6m in igaming revenues, up 18.5%. The revenue generated by peer-to-peer games fell 0.5%, to $2.3m.
Operators can be categorized into two categories: Golden Nugget jumped from the third to first place in New Jersey by April. The igaming revenues of $53.1m is an increase of 27.5% over the prior year.
Resorts Digital remained in second with $47.5m. This is an increase of 13.9% from the previous year. Borgata was the top casino in March and came in third with $44.1m. This represents a 2.2% increase.
The Sports Betting Revenue has almost Doubled to $106.2m
The sports betting industry saw a 46.9% increase in revenue year on year to $106.2m. It is also up 74.1% from $61.0m last March.
In April, the handle reached $1.044bn. This 12.6% rise in revenue helped to boost it year on year. Online sports betting reached $1.01bn, and sportsbooks in retail hit $34.7m.
Meadowlands is the undisputed leader of the New Jersey Sports Betting Market, with revenues totalling $73.2m, an increase of 92.2% over 2023. Meadowlands is partnered with FanDuel, owned by Flutter Entertainment.
Resorts Digital, along with partner DraftKings, came in second place at a distance. Their revenue was down by 6.6%. Borgata, BetMGM and DraftKings placed third with $5.2m in revenue. This is a decline of 21.6%.
New Jersey’s gambling revenues surpass $2.00 billion in just four months
In the first four months of the current year, the total revenue from gambling in New Jersey reached $2.06bn. It is 14.4% higher than the previous period.
The revenue from land-based games fell 1.6% to $872.9m. This decline was due to both slot machines and table game losses.
The igaming revenues were 21.1% more at $750.7m. This was largely due to a 21.5% increase in slot revenue of $741.3m. Peer-to-peer revenue fell 3.7%, to $9.4m.
The total for four months was $434.2m. The total is $434.2m, up 48.6% since 2023 when it was $292.3m. Players spent a combined $5.17bn.
