Sports betting revenue in New Jersey declined by 7.4% year-on-year to $77.9m, as revenue for its leading brands increased but challengers in the market struggled.
This figure came as players bet $1.06bn on sports, down by 18.1% from October 2021’s record-high $1.30bn. Of this total, $987.6m was placed online, with the remaining $72.6m placed in person.
The Meadowlands, with a FanDuel betting skin, continued to easily lead the market with $45.4m in sports betting revenue, up 3.0%. In second place was Resorts Digital, which has partnered with DraftKings and brought in $17.2m, up 8.0%
BetMGM partner the Borgata was the only other operator to crack even a 3% market share, bringing in $9.5m, up by 18.7%.
While revenue for the market leaders increased year-on-year, it was down for most of the remaining brands, leading to a significant decline in overall revenue.
New Jersey online casino revenue
In online casino, though, revenue increased by 15.9% to $147.2m. This included $2.2m from peer-to-peer games like poker, with the rest coming from house-banked games.
The Borgata, again counting BetMGM among its skins, was number one with $41.0m in revenue, up by 5.6%, but faced a tough challenge from both Resorts Digital – with partners including DraftKings and $39.3m in revenue – and FanDuel partner Golden Nugget, which brought in $38.4m.
On the land-based side, overall revenue decreased by 7.1% to $220.6m. Of this total, $166.2m came from slots, down by 7.3%, while table game revenue declined by 6.6% to $54.4m.
The Borgata was first in revenue with $62.5m, well ahead of Hard Rock’s $39.0m.
Operators contributed a total of $45.5m in tax. This included $13.5m in land-based casino tax, set at 8%, and $22.1m from the 15% online casino tax.
The 13% online sports betting tax brought in $9.5m, with a further $359,774 coming from retail betting taxes.