Calm Waters Continue For NJ Online Gambling Market In June
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New Jersey's online casinos and poker rooms grossed $107 million in June. Total gaming revenue amounted to $393 million. In-person gambling was still shut down at that time due to COVID-19. Retail casinos remain the biggest revenue driver in New Jersey and the US.
June's revenue for NJ online gambling market was $107,053,938, compared to $108,170,558 in May. Daily average revenue increased to 2.3% from $3.489,373. In April, the grand total was only $ 107,749,608.
Annual growth for the iGaming market was 26.1% in June. The total gaming taxes for June amounted to $40 million. Promotional spending increased to $8.7 million from $7.3 million in May. Operators in New Jersey will soon be able to deduct such spending from their taxable revenue.
Annual growth for the iGaming market in New Jersey was 26.1% in June. The total gaming taxes for June amounted to $40 million. Online casinos and poker contributed $16 million, while online sportsbooks contributed another $8 million in the month. Promotional spending increased to $ 8.7 million from $7.3 million the previous month, thanks to a bill passed on June 3.
Golden Nugget lost market share to Borgata in New Jersey. Resorts is catching up. In June, Golden Nugger's daily average casino revenue fell 8.3%, while Borgati's rose 8%. The two are now separated by a margin of almost 22%.
Borgata now holds nearly one-third of the market at 32%. Golden Nugget’s share is just under 26%. Resorts has 21%. Ocean Resort had the best month, increasing its daily average revenue by 13%. Hard Rock was the only license holder to book a loss in dailyAverageRevenue.
Calm Waters Continue For NJ Online Gambling Market In June. Borgata holds 32% of the market, Golden Nugget 26%, Resorts 21%. Ocean Resort had the best month, increasing its daily average revenue by 13%. Hard Rock lost 2%.
In June, NJ online poker rooms saw their daily average revenue drop 5.2%. Poker accounted for 2.06% of all iGaming revenue, an all-time low. Poker surged to a peak of $5.1 million in revenue in the early weeks of the pandemic.
New Jersey sportsbooks had a phenomenal month in terms of revenue. The total revenue for the month jumped to $62.2 million through online channels and $9.1 million from retail books. There was a 39% increase in daily average bettors. Spots betting operators won 9.3 cents for every dollar wagered in the state.
New Jersey online gambling revenue breakdown. In June, the percentage change was based on the daily average.
