Total gambling revenue in New Jersey hit $553.9 million (£439.6 million/€528.1 million). This is 0.9% behind January last year but 6.% ahead of December.
New Jersey Division of Gaming Enforcement (NJDGE) figures show the year-on-year fall was due to a decline in sports betting. Igaming, on the other hand, continues to go from strength to strength.
For January, igaming revenue topped $221.6 million. This beats last year by 20.9% and falls just 2.8% short of December’s $228 million record. However, it was only the second time igaming drew the highest gambling revenue in a single month, after the feat was first achieved in October 2024.
Breaking down igaming, ‘other authorised games’, including slots, drew $218.9 million, up 21.1%. Online poker revenue also increased by 8.1% to $2.7 million.
FanDuel and Golden Nugget Atlantic City took top spot with $49.7 million in revenue, a rise of 26.4%. DraftKings and Resorts Casino Hotel, which led in December, slipped to second on $44.1 million.
BetMGM and Borgata ranked third with $28.8 million, with Borgata’s own platform fourth on $21.9 million. Caesars and Tropicana Atlantic City completed the top five with $14.8 million.
Sports betting decline in January
Turning to sports betting, revenue in January dropped 28.4% year-on-year to $122.2 million, though this was almost double the $62.8 million posted in December.
Of the January total, $118.5 million came from online which represented a year-on-year downturn of 29%. The remaining $3.6 million from retail sportsbooks was 6.4% lower than the previous year.
Handle-wise, the $1.15 billion wagered in January was 33.1% behind last year’s record $1.72 billion spend. This included $1.11 billion in online wagers and $46 million retail bets.
As such, the state was left with a monthly hold of 10.61% for January.
In terms of New Jersey-licensed operators, FanDuel and partner Meadowlands led the online market. Revenue from the partnership hit $53.1 million, down 34.2% year-on-year.
DraftKings and Resorts Casino Hotel placed second with $35.6 million, this was down 11.5% on last year. BetMGM and Borgata were some way behind in third on $7.4 million (up 6.3%). Fanatics and Bally’s took fourth with $6.8 million, ahead of bet365 and Hard Rock on $4.8 million (up 29%).
Casino revenue up as smoking ban debate rumbles on
Land-based casinos, traditionally the main source of gambling revenue in New Jersey, also saw growth in January. Revenue for the month was 2.6% higher than the previous year at $210.1 million.
Slot machine revenue increased 2% to $145.4 million, with table games revenue also rising 4.1% to $64.6 million.
Borgata retained the top spot with $60.4 million in total revenue, a rise of 4.7%. Hard Rock was second on $38.1 million (up 2%), with Ocean Casino not far behind on $35.2 million (up 6.4%). Tropicana experienced the most growth in casino revenue. This increased by 13.2% to $15.1 million.
This increase comes against a backdrop of uncertainty over the future of smoking inside New Jersey casinos. The state passed a law in 2006 banning indoor smoking, though casinos are currently exempt.
However, former state senator Loretta Weinberg, who sponsored the original ban, is calling for an end this loophole and for a ban on smoking in casinos to be enforced in the Garden State.
In terms of monthly tax in January, igaming tax hit $33 million across the state, online sports betting tax was $15.4 million, retail sports wagering $307,487, and casino gross revenue tax came in at $13.3 million. Total gambling tax for the month amounted to $62.1 million.
Original article: https://igamingbusiness.com/gaming/online-casino/new-jersey-igaming-up-in-january-online-betting-slips-29/
