New Jersey gambling revenue surpasses $500m in July

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Gambling revenue in New Jersey exceeded $500.0m in July following year-on-year growth in almost all areas of the market.

Revenue for the month amounted to $506.2m. This was 5.3% up on last year and also 10.7% higher than New Jersey’s total in June of this year.

Land-based casino gambling drew $290.0m in revenue during the month, down 3.0% on July 2023. This was due to a 13.2% drop in table games revenue to $72.2m. In contrast, revenue from physical slot machines, the largest source of revenue in the state, edged up 0.9% to $217.8m.

Turning to online gambling and overall revenue in this segment was 13.5% higher year-on-year at $155.2m. Online slots revenue jumped 13.4% to $152.5m while peer-to-peer poker revenue was 18.5% higher at $2.7m.

Breaking down this market, Borgata moved into top spot with $43.0m. This was higher than Resorts Digital on $40.6m and Golden Nugget, which led the market in June, with $39.8m.

New Jersey sports betting revenue up over 35%

Looking at sports wagering and revenue for this segment was 35.6% higher year-on-year at $61.0m.

The increase was helped by a marginal rise in handle, which grew 1.4% to $587.0m. Of this total, $561.6m was wagered online and $25.4m at retail sportsbooks across New Jersey.

Meadowlands, which is partnered with FanDuel, continued to lead the market with $25.7m in sports betting revenue. Resorts Digital and DraftKings claimed second with $19.0m, then Borgata and BetMGM on $6.1m.

Year-to-date gambling revenue passes $3.2bn

Turning to the year-to-date performance for New Jersey gambling revenue, total revenue was 11.0% higher at $3.23bn by the end of July.

Some $1.65bn came from land-based casinos, an increase of 2.3%. Online gambling revenue climbed 14.2% to $1.09bn and sports betting revenue was up 41.9% to $501.8m.

However, it was also noted that the state’s year-to-date sport wagering handle in the seven-month period fell 8.9% to $5.75bn. This included online spend of $5.45bn and retail bets totalling $293.6m.