New Jersey’s gambling revenue increased 7.5% on an annual basis to $521.5 million in September, despite the fall of revenue from land-based casinos.
The total revenue is comfortably above the $485.9m projected for September 2022. The figure is still lower than New Jersey’s $531.6m in August of this year.
New Jersey’s revenue is still primarily generated by land-based casinos, despite a decline in revenues. This segment’s revenue was $246.5m down from last year’s $251.7m.
Slot machine revenue accounted for $182.7 million of the total gambling revenues on land, which is a decline of 2.0%. Table games contributed 63.8% of all gambling revenue, a drop of 2.2% compared to September 2012.
Revenue from Igaming tops $164m
In September, igaming was the fastest growing segment of the industry. Revenue for the month was $163.8m. This is a 21.1% increase from $135.2m last year.
The revenue generated by online slots increased 21.4% compared to the prior year. Other $2.4m came from New Jersey peer-to-peer games.
Resorts Digital is still the leader in this segment, though by only a narrow margin. Golden Nugget, with $45.1m of igaming revenues, was just ahead. Borgata, with its $41.6m igaming revenues in September, was not far behind.
New Jersey Sports Betting Revenue Up 13.4%
Sports betting revenue increased by 13.4%, from $98.0m to $111.1m between September 2022 and this year. The betting handle increased by 28.6% year on year to $1.30bn from $1.01bn. The online wagers accounted for $1.26bn and the retail bets for $43.5m.
DraftKings, along with its partner Resorts World, retained the top position in sports betting. In August, the partnership overtook Meadowlands for the first time since January 2019, when the latter was the leader of the sports betting market. In September, revenue from DraftKings and Resorts World amounted to $49.9 million.
Meadowlands, along with its partners FanDuel and PointsBet, ranked second in terms of revenue, at $34.1m. Borgata, BetMGM and SuperBook were third in the sports betting revenues with $11.5m.
Revenues for the year to date have exceeded $4.00bn
In the last nine months, the revenue reached $4.3m. It was 10.9% higher than the previous year.
The revenue from land-based casinos was up 1.8% at $2.17bn. Slots revenue increased by 2.9%, to $1.61bn. Table games revenue fell 1.4%, to $559.9m.
Poker revenue increased 6.5%, to $22.2m. Slots revenue rose 15.5% at $1.38bn. Sports betting revenue grew 37.2%, to $709.0m. The total handled was $7.77 billion.
