Browse articles by topic

New Jersey gambling revenue rises again in May


Gambling revenue in New Jersey increased 290.4% year-on-year to $374.2m in May, while the monthly total was also 6.4% higher than in April of this year.

Overall revenue for the US state’s market was significantly higher than the $95.9m posted in May 2020, primarily due to the impact of novel coronavirus (Covid-19) restrictions in New Jersey last year.

New Jersey’s land-based casinos were closed for all of May 2020, while sports wagering options were limited due to the cancellation and postponement of almost all major sporting events.

However, as the Covid-19 situation continued to ease in the US and restrictions are eased, the state continued its recovery, with this also reflected by a month-on-month increase in revenue from $352.2m in April.

Sports betting revenue rocketed 434.3% year-on-year to $52.9m, while the amount bet by consumers in New Jersey also hiked 591.3% to $814.3m. A total of $734.7m was wagered online, compared to $79.6m at retail sportsbook locations.

FanDuel and PointsBet at Meadowlands retained top spot in the state’s sports betting market with $34.6m in revenue, some way clear of Resorts Digital and DraftKings with $9.5m and the Borgata with BetMGM on $3.8m.

Looking at igaming, revenue was 25.9% higher than 2020 at $108.2m in May. A total of $108.2m was generated from online slots and table games, up 29.9% year-on-year, though peer-to-peer poker revenue declined 46.7% to $2.4m.

The Borgata led the way in igaming with $32.8m in revenue, followed closely by Golden Nugget Online Gaming, the igaming division of the Golden Nugget land-based casino, on $31.1m, then Resorts Digital with $21.6m in revenue.

Land-based casino win for May amounted to $213.1m. Year-on-year comparisons were not possible as casinos were closed for all of May 2020, but the monthly figure did represent an increase of 12.4% from $189.6m in April of this year.

Slots revenue for the month reached $157.8m, while table games revenue amounted to $55.4m.

In terms of year-to-date performance, total gambling revenue in the five months to the end of May was $1.72bn, some 85.0% ahead of the same point in 2020.

Sports betting revenue was 208.5% higher at $297.1m, while igaming revenue hiked 56.1% to $527.2m and land-based casino revenue 80.8% to $895.9m.