New Jersey gambling revenue up 15.1% year-on-year in May
Gambling revenue in New Jersey increased by 15.1% year-on-year in May following growth across almost all areas of the US state’s regulated market.
Revenue for the month amounted to $430.6m (£349.8m/€409.2m), up from $374.2m in May 2021 and also 1.9% higher than $422.5m in April of this year.
Land-based casinos remained by far the primary source of revenue in New Jersey, with revenue from these properties reaching $233.0m in May, up 9.3% year-on-year. Slots revenue was 10.5% higher at $174.3m, while table games revenue also climbed 6.1% to $58.7m.
Online gambling revenue jumped 25.7% year-on-year to $136.0m, due to a 26.4% jump in internet slots revenue to $133.7m. However, online peer-to-peer poker revenue fell 4.0% to $2.3m, making it the only area of the market to experience a decline in May.
Borgata remained the runaway leader in the igaming sector, posting $42.6m in revenue for the month. Resorts Digital followed in second with $29.8m, marginally ahead of Golden Nugget on $29.7m.
The New Jersey Division of Gaming Enforcement (NJDGE) also noted $4.9m in revenue from Golden Nugget Online Gaming (GNOG) but said that as GNOG surrendered its licence for igaming and online sports betting on 4 May, as of 5 May, all such revenue was reported under Golden Nugget.
Turning to sports betting and revenue was 16.4% higher at $61.6m, despite a 5.9% decline in the state’s handle to $766.4m. Some $708.4m was wagered online, while $58.0m was bet at retail locations.
Meadowlands, partnered with FanDuel, continued to lead the market with $35.5m in sports betting revenue, followed by Resorts Digital, which has sportsbook deals in place with both DraftKings and Flutter’s Fox Bet, on $11.3m. Borgata ranked third with $6.4m in revenue.
Looking at year-to-date performance, total gambling revenue in New Jersey for the five months to the end of May was $2.03bn, up 18.1% year-on-year.
Land-based casino revenue was 20.7% higher at $1.08bn and igaming revenue hiked 29.3% to $681.4m, though sports betting revenue was down 9.3% to $269.4m.