Total market revenue in New Jersey reached $487.1m (£390.9m/€446.4m) in October. This was ahead of $445.7m last year but 6.6% behind $521.5m in September this year.
Physical slots, which have long drawn the most gambling revenue in New Jersey, posted a year-on-year decline. Revenue from retail slots dropped 1.9% to $163.0m in October.
However, land-based table games revenue for the month was 19.7% higher at $65.1m. This meant total revenue from the retail casino sector increased 3.4% to $228.1m.
New Jersey igaming markets continues to expand
In contrast to the retail slots decline, the situation was very different for their online cousins in New Jersey. Revenue from authorised online games, including internet slots, increased by 13.4% to $164.4m in October.
Online peer-to-peer poker games revenue also increased by 6.2% to $2.4m. As such, overall revenue from igaming during the month reached $166.8m, up 13.3% from last year.
Golden Nugget edged ahead of Resorts Digital to claim top spot in the New Jersey igaming segment in October. Revenue at Golden Nugget hit $49.4m, with Resorts Digital just behind on $46.0m. Borgata placed third with $35.6m in igaming revenue for the month.
Sports betting revenue rises 18.4% in October
Turning to the sports betting sector and there was more good news for New Jersey. Revenue here was 18.4% higher year-on-year at $92.3m, compared to $77.9m in October 2022.
Players spent a total of $1.29bn betting on sports during the month, 21.7% ahead of $1.06bn in the previous year. Some $1.24bn of the total wagered in October was done so online, with retail’s share at $56.3m.
Looking at individual operators, Meadowlands regained top spot after slipping to second in August. Meadowlands and partners FanDuel, PointsBet and SuperBook posted $60.2m in revenue during October.
DraftKings and partner Resorts World led the market in August and September. However, they fell to second place with $15.3m in revenue for the most recent month. Borgata and BetMGM ranked third with $7.8m in sports betting revenue.
New Jersey year-to-date gambling revenue exceeds $4.77bn
Looking to New Jersey’s year-to-date performance, revenue in the 10 months to the end of October was $4.77bn. This is 10.6% higher than at the same point in 2022.
Land-based casino revenue was up 1.9% to $2.40bn, with slots 2.4% higher at $1.78bn and table games 0.4% at $625.0m.
Online gambling revenue increased 15.1% year-on-year to $1.57bn for the period. Internet authorised games revenue was 15.3% higher at $1.55bn and online poker revenue jumped 6.5% to $24.6m.
Sports betting revenue also increased 34.7% to $801.3m. Year-to-date wagering handle in New Jersey amounted to $9.06bn.
Original article: https://igamingbusiness.com/finance/new-jersey-gambling-revenue-up-9-3-year-on-year-in-october/
