The New Jersey Division of Gaming Enforcement (NJDGE) has reported a year-on-year increase in revenue across all market sectors in February, despite the sports betting sector reporting a significant month-on-month decline.
Sports wagering revenue for the month amounted to $17.0m, which was 33.8% higher than $12.7m in February last year, but 68.3% down on $53.6m posted in January of this year. Incidentally, the January 2020 figure was the highest ever monthly revenue total recorded in the state.
Consumers wagered a total of $494.8m on sports in February, which was 54.4% more than in the same month last year. The majority of betting was conducted online, with players spending $436.5m online and $58.3m at retail sportsbooks.
Handle for the year to date has already surpassed $1bn, standing at $1.03bn for the first two months of 2020.
Meadowlands, working in partnership with sub-licensees FanDuel and PointsBet, retained top spot in the state’s sports betting market with revenue of $11.0m, up 35.8% on the previous year.
Resorts Digital, which hosts DraftKings and Fox Bet under its New Jersey license, followed in second with revenue of $4.0m, up 8.1% on January 2019.
Monmouth Park and William Hill were the only other sports betting partnership to post revenue in excess of $1m in February, with $1.2m placing the duo 59.7% ahead of last year.
The NJDGE also said that the Golden Nugget posted a loss of $444,311 for sports betting in February, compared to a loss of $125,271 in the same month in 2019.
Meanwhile, in terms of online gambling, revenue in this market sector was up by 63.7% year-on-year to $52.0m. This was despite a slight decline in peer-to-peer games revenue (poker), though the state saw revenue from other authorised games jump 67.6% to $50.2m for the month.
Despite its sports wagering struggles, Golden Nugget was the clear leader in the state’s igaming market, with its revenue climbing 84.8% year-on-year to $19.8m – higher than its land-based casino revenue, which totalled $16.1m.
Resorts Digital ranked second with revenue of $12.5m, up 87.2% on 2019, while Borgata also saw its igaming revenue rocket 80.6% year-on-year to $8.1m.
Meanwhile, there was also growth in New Jersey’s land-based casino market, with revenue here increasing by 11.0% to $218.3m. Slots revenue was up by 12.5% to $157.0m, while table games revenue also improve by 7.3% to reach $61.3m.
Overall, New Jersey gaming revenue for February amounted to $287.3m, up by 19.1% from $241.2m in the same month last year. For the year-to-date, the state was 24.8% ahead of the 2019 revenue total at $587.8m