New Jersey’s igaming vertical enjoyed its best month ever in October, with revenue crossing the $90m mark for the first time since the market became regulated.
iGaming Business and Ficom Leisure are pleased to present the New Jersey iGaming Dashboard, providing revenue and product metrics on the state’s regulated market.
The data is updated monthly following the official release of figures from New Jersey’s Division of Gaming Enforcement (NJDGE).
After hovering around the $87.5m mark for the previous few months, igaming GGR rose to $93.5m in October, a 6.7% rise on September and a 106.9% increase on October 2019.
The record-breaking month came despite the continuing decline in online poker revenues, which fell again in October to $2.5m. GGR in other casino games more than made up for this, however, rising to $90.9m, up 6.8% on September.
Market leader Golden Nugget saw its share of the market rise slightly last month, to 30.1% from 29.7% in September, but it remains 18.2% down on the market share of 36.8% it held in October 2019.
Largely, it is second-placed operator Borgata, which has a partnership with BetMGM, that appears to have taken market share from the longstanding leader.
In October, Borgata’s share rose to 23.6%, a fairly modest rise on September’s 23.1%, but a more significant 37.2% increase on the 17.2% of the market it held in October last year.
Third-placed Resorts Digital accounted for 23.1% of the market last month, though its percentage has been relatively flat on both a month-on-month and year-on-year basis.
The rebound in the state’s sports betting market continued at pace, with sports betting handle also passing a significant milestone as combined retail and online turnover soared above the $800m mark for the first time.
Unsurprisingly, it was online that accounted for the bulk of this, with October’s $743.9m in handle representing a 9.6% rise on September and a 78.4% increase on October last year.
Retail handle fell last month, both on a month-on-month and year-on-year basis, to $59.2m.
Meadowlands continued to lead the sports betting market by some way, though its share fell to 50.9% in October, down from 62.5% the previous month.
After seeing its share more than halve in September, second-placed Resorts Digital made a speedy recovery last month, with its share of the market rebounding to 25.0%.
It also provides quarterly figures, available via iGamingBusiness.com, on the Danish online market in the Denmark iGaming Dashboard, the Italian market in the Italy iGaming Dashboard and the Portuguese market in the Portugal iGaming Dashboard.
A European corporate advisory firm, Ficom Leisure is a specialist in all segments of the betting and gaming sector.