New Jersey gambling revenue rockets 119.8% YoY in March

News  /  Published 19 Apr 2021  / 

Gambling revenue in New Jersey hiked 119.8% year-on-year in March as the state’s Division of Gaming Enforcement reported growth across the sports betting, igaming and land-based casino segments.

Total market revenue for the month amounted to $359.3m, up from $163.5m in March of last year, though the 2020 figures were impacted heavily by land-based casino closures and a lack of sports betting options due to events being cancelled – both in line with novel coronavirus (Covid-19) restrictions.

The sports betting segment saw the most growth, with revenue here jumping 360.9% year-on-year to $60.8m. Players wagered a total of $859.6m on sports during the month, with this split between $780.1m online and $79.5m at retail sportsbooks.

FanDuel and PointsBet at Meadowlands were again the market leaders in February, posting $31.3m in revenue, up 125.4% on the previous year, ahead of Resorts Digital and DraftKings on $14.1m, then the Borgata on $6.3m.

Looking at online gaming for the month and revenue here reached $113.7m, an increase of 75.4% from $64.8m in March 2020. Online slots accounted for $111.0m of this total, with the remaining $2.7m attributed to peer-to-peer poker.

The Borgata claimed top spot in the igaming market with $36.2m in revenue, followed by Golden Nugget Online Gaming, the igaming division of the Golden Nugget casino, with $31.8m, then Resorts Digital with $21.4m.

In terms of the land-based casino sector, revenue here increased by 116.3% year-on-year to $184.9m, with New Jersey casinos now operating at almost full strength after many Covid-19 restrictions were eased in the state.

Slots revenue climbed 132.8% to $134.3m, while table game revenue was also up 82.0% to $50.6m.

For the year-to-date, total market revenue stood at $993.7m, up 32.3% from $751.3m at the same point in 2020. Sports wagering revenue was 126.1% higher at $189.3m and igaming revenue was up 81.1% to $311.2m, but land-based casinos revenue was 0.5% lower at $493.1m.

 

Source: iGB North America