NJ Sets Records with March Sports and Online Gambling Revenue

The state of New Jersey is yet again setting new records when it comes to sports betting and online gambling revenue. In March, this US state saw a 34.5% rise in total year-on-year iGaming revenue…

…and, in other words, the revenue amount came up to $294 million.

Total revenue in New Jersey for the first three months of the year increased 28.6% to $764.8 million, while online gambling revenue was up by 50.3% year-on-year to $104.5m

NJ sports betting revenue, that can’t be compared since it wasn’t legal last year at this time, rose to $63.2m in the first three months of 2019.

Main Sources of iGaming Income

Just like it was the case in previous months, land-based casinos brought the most money to the state wallet. The year-on-year revenue rose 15.7% to $223.2 million…

…while the revenue from slots saw major growth, with an 18.5% increase in revenue.

Slots revenue increased to $162.6 million and that coming from table games grew as well, but only 8.7% to $60.5 million.

NJ Online Gambling

Speaking of online wagering, the revenue in New Jersey from this form of gambling rose 53% to $39.1 million…

…and that way, managed to sur the revenue record from January of this year.

As stated in the report from the New Jersey Division of Gaming Enforcement, the main “culprits,” for this expansion of online gaming market were mostly slots and table games.

The revenue from these sectors was up 57.7% to $37.2 million. Just to compare, revenue from peer-to-peer games (which is poker) actually fell 1.6% to $5.60 million.

It is interesting that it was the only sector in the NJ market that decreased during the month of March.

Best Operators

When it comes to the state’s gambling operators, Golden Nugget once again led the way in March by generating a staggering $14.2 million in revenue…

…which is up 64.4% compared to the same month last year.

Second place was reserved for Resorts Digital, which online gambling revenue increased more than double year-on-year. It was revealed that this operator amassed $8.5 million in March, and it is a 100.1% increase compared to the same month last year.

And, Borgata Hotel Casino and Spa again finished third, with its 18.7% increase in online gambling revenue of $5.4 million for the month of March.

It is also worth mentioning the Caesars Interactive came in fourth with $5.1 million in revenue, up 16.4% compared to March 2018.

Sports Betting in New Jersey

Speaking of sports betting in this state, during the month of March it actually saw the highest monthly revenue since its launch when the US Supreme Court removed the sports betting ban in May 2018…

…and it came up to $31.7 million.

First place was reserved for Meadowlands, which operates in partnership with Paddy Power Betfair’s, FanDuel. Its sports betting revenue more than doubled when compared to the numbers reported in February.

The revenue came to $17.6 million in March, while in February the revenue was at $8.1 million.

Resorts Digital and their partner DraftKings came up second with a total of $7.2m, almost double up from $3.7m in February.

On the other hand, Monmouth Park and William Hill were the only other sports wagering partnership to post revenue in the millions of dollars for the month of March ($1.96m).

Source:

“NJ sets sports betting and igaming revenue records in March”, igamingbusiness.com, April 15, 2019.