Total gambling revenue across online and retail in New Jersey hit $558.3m (£428.2m/€515.2m) in September. This is 7.1% ahead of last year and 0.6% more than August this year, according to the New Jersey Division of Gaming Enforcement.
Once again, the highlight for New Jersey in September was igaming, with revenue here up 27.1% year-on-year to $208.1m. This surpassed the existing record of €198.4m, which was set in August.
Revenue from content classed as ‘other authorised games’, including online slots and table games, jumped 27.6% to $205.9m. However, online poker revenue slipped 6.9% to $2.2m.
DraftKings remains the leading igaming operator with $45.8m in revenue for September. It was closely followed by long-time rival FanDuel on $45.3m. BetMGM also had a successful month with $26m.
As for master licensees, Resorts Casino Hotel took top spot with $52.9m in igaming revenue. The casino counts DraftKings, ESPNBet and PokerStars among its skin partners.
Sports betting hold at 11.28% in September
Turning now to sports betting, total revenue for the month of September was $119.6m. This is ahead of last year by 7.6% and almost double August’s $62.7m. The month-on-month rise is no real surprise, given the summer months are often quieter for sports betting in the US, while September sees the start of the new NFL season.
The rise in revenue came despite players spending less year-on-year. Total handle for the month was $1.09bn, down 16.2% from last year but 56% more than August. Mobile spending hit $1.03bn, while retail sportsbooks processed 58.5m in bets.
This meant New Jersey had a monthly hold of 11.28%.
FanDuel took the leading mobile operator spot with $48.6m in revenue for September. The Flutter-owned brand, which is partnered with Meadowlands Racetrack, reported a 14.12% hold.
DraftKings, which works with Resorts Casino Hotel, was second on $36.6m and a 16.99% hold. BetMGM, partnered with Borgata, was third on $7.8m and a hold of 16.28%
In terms of master licensees, Meadowlands retains its position as the market leader, posting $52.8m in revenue.
New Jersey land-based casino revenue slips 6.5%
As for the land-based casino market, September proved a tricky month for operators. Total revenue hit $230.6m, which is 6.5% less than last year and 21.6% behind August.
Physical slots revenue dropped 5.2% year-on-year to $173.3m, while table games revenue was down 10.1% to $57.3m.
Given that igaming continues to grow at a rapid rate and the land-based sector seemingly heading in the other direction, it may not be long before igaming becomes the primary source of gambling revenue in New Jersey.
Year-to-date revenue reaches $4.72bn
Looking now at the nine months to the end of September, total gambling revenue in New Jersey was $4.72bn, up 10.1% from the same point last year.
Online gambling revenue is 23.2% higher at $1.73bn and sports betting revenue jumped by 17.8% to $835.4m. Land-based casino revenue, on the other hand, was down 0.9% to $2.15bn.
Original article: https://igamingbusiness.com/finance/new-jersey-igaming-revenue-record-september/
