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NJ gambling revenue up 10.4% year-on-year in February


Gambling revenue in New Jersey climbed 10.4% year-on-year during the month of February, with growth in almost all market sectors.

Revenue for the month amounted to $412.2m, up from $373.3m in the same month in 2022 but 5.7% behind the $436.9m generated in January of this year.

Physical slot machines remained the core source of revenue in the state, with the $159.3m collected in February being 3.5% ahead of the previous year. However, land-based table games revenue slipped 4.9% to $55.6m, though this was the only segment to experience a decline.

Online gambling revenue increased 9.7% to $142.6m, making it the second most active area of the market behind land-based slots. Online slots revenue was 9.8% higher at $140.3m, with peer-to-peer poker revenue also up 2.5% to $2.3m.

Borgata claimed top spot in this market with $39.7m in revenue, ahead of Golden Nugget on $36.5m, closely followed by Resorts Digital with $36.0m.

Turning to sports betting and revenue was 76.9% higher year-on-year at $54.6m. This came despite handle for the month falling 14.0% to $847.4m, with $801.4m of this spent online and $46.0m at retail sportsbooks.

The Meadowlands, which has a FanDuel betting skin, remained by far the market leader with $32.1m in revenue, followed by Resorts Digital and DraftKings on $12.3m, then the Borgata and BetMGM with $4.1m.

For the first two months of the calendar year, total gambling revenue in New Jersey was up 12.5% to $849.1m, compared to $755.0m at the same point in the previous year.

Slot machine revenue was 9.9% higher at $311.2m and table games revenue increased 2.1% to $115.5m, with internet gaming win rising 10.3% to $295.5m and sports betting 39.4% to $127.0m.