New Jersey’s gambling revenue grew 10.4% year-on–year in February. There was growth in almost every market sector.
The month’s revenue was $412.2m. This is an increase of $373.3m from the same period in 2022, but 5.7% less than the $436.9m generated by January this year.
The state’s main source of revenue was still physical slot machines. In February, the state collected $159.3m which was 3.5% more than the previous year. Although revenue from land-based games declined by 4.9% to $55.6m in February, this segment was not the worst.
Online gambling revenue grew 9.7% to $142.6m. This makes it the second-most active market after land-based slot machines. Online slots revenue increased 9.8% to $140.3m. Peer-to-peer poker revenue grew 2.5%, reaching $2.3m.
Borgata topped this market with $39.7m of revenue. This was ahead of Golden Nugget with $36.5m and Resorts Digital with $36.0m.
Sports betting was the next most popular and generated $54.6m more revenue year-over-year. This was despite handle falling 14.0% to $847.4m. $801.4m was spent online, and $46.0m was spent at retail sportsbooks.
With $32.1m in market revenue, The Meadowlands (which has a FanDuel gambling skin) remained the market leader. Resorts Digital and DraftKings followed with $12.3m and then BetMGM with $4.1m.
The total gambling revenue for New Jersey in the first two months of this calendar year increased 12.5% to $849.1m compared to $755.0m in the previous year.
The slot machine revenue was 9.9% more at $311.2m. Table games revenue rose 2.1% to $115.5m. Internet gaming win rose 10.3% to $295.5m. Sports betting grew 39.4% and reached $127.0m.