New Jersey gambling revenue rockets 326.4% YoY in April

News  /  Published 17 May 2021  / 

Gambling revenue in New Jersey jumped 326.4% year-on-year to $352.2m in April as the US state continued its recovery from the novel coronavirus (Covid-19) pandemic.

Total market revenue was significantly higher than the $82.6m reported in the same month last year, though April 2020’s figures were impacted by Covid-19 shutdowns.

All land-based casinos, sportsbooks and gaming halls were closed for all of April 2020 due to Covid-19 restrictions, while sports betting options were severely limited as almost all sports events were cancelled or postponed.

On a month-on-month basis, revenue slipped 2.0% from the $359.3m generated in March this year.

Breaking down the performance of each segment, sports betting revenue hiked 1,892.3% year-on-year to $51.8m, with sports leagues and events now running as normal. The state’s betting handle also rocketed 1,270.0% to $748.0m, with $681.2m spent online and $66.8m wagered at retail sportsbooks.

FanDuel and PointsBet at Meadowlands remained by far the leaders in New Jersey’s sports wagering market, posting $29.1m in revenue for the month, some way ahead of Resorts Digital and DraftKings on $12.0m, and the Borgata with BetMGM on $6.8m.

Turning to igaming and revenue here reached $107.7m in April, up 34.8% from $80.0m in the same month last year. Some $105.3m was attributed to slots and table games, and the remaining $2.4m peer-to-peer poker.

The Borgata led this section of the market with $32.8m in revenue, just ahead of Golden Nugget Online Gaming, the igaming division of the Golden Nugget land-based casino, on $32.4m, then Resorts Digital with $19.6m.

In terms of land-based casino, revenue reached $189.6m and was the primary source of gambling income during the month. Land-based casinos did not generate any revenue in April last year as they were closed for the entire month, in line with Covid-19 rules.

Slot revenue at land-based casinos reached $138.0m in April, while table games revenue amounted to $51.6m.

For the year-to-date, total gambling revenue in New Jersey in the four months to the end of April was $1.35bn, up 61.4% on the same point last year.

Sports betting revenue was up 182.7% to $244.2m, igaming revenue increased by 66.4% to $419.0m and land-based casino revenue jumped 37.7% to $682.7m.

 

Source: iGB North America