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Record month for betting & igaming drive NJ revenue growth in October


Gambling revenue in New Jersey increased by 15.0% year-on-year in October, as the state posted record monthly revenue for sports betting and online casino.

Overall gambling revenue in October stood at $338.1m, up from $293.9m in the same month last year and also 4.6% higher than $323.3m in September of this year.

Data released by the New Jersey Division of Gaming Enforcement (NJDGE) show several new records for the state’s sports wagering market, including revenue, which reached an all-time monthly high of $58.5m, up 26.1% on last year and surpassing the previous record set in January 2020.

New Jersey’s sports betting handle also reached a record $803.1m, smashing the previous record set in September this year and marking the first time the handle surpassed $800m in a single month. Some $743.9m was staked online, while players spent $59.2m at retail sportsbooks.

Meadowlands and its sub-licensees FanDuel and PointsBet retained top sport in the market with $29.8m in revenue, up 20.2% on last year. Resorts Digital and partners DraftKings ranked in a distant second with $14.6m in revenue, a 37.7% year-on-year increase.

The Borgata and BetMGM again placed third with $4.3m in revenue, up 138.9% on last year, just ahead of Meadowlands on $4.1m, which was 46.4% higher than October 2019.

Records also tumbled in the state’s igaming market, with revenue revenue reaching $93.5m, the first time that revenue in this sector surpassed $90m. iGaming revenue was up 106.7% year-on-year.

Online slots and table games were again by far the primary source of income in October, with revenue rocketing 108.7% to $90.9m. Peer-to-peer poker revenue was also up 53.5% to $2.5m.

Golden Nugget again placed first in the igaming market with $28.1m in revenue, up by 69.2% year-on-year, followed by the Borgata with $22.1m, an increase of 184.6% on last year, then Resorts Digital with $21.6m up 109.3% on October 2019.

Growth across the sports betting and igaming sector more than offset a decline in land-based casino revenue, which fell 8.0% from $202.3m to $186.1m. This was also 2.4% lower than $190.6m in September, as casinos continue to face certain novel coronavirus (Covid-19) restrictions, including 25% capacity cap.

Land-based slots revenue slipped 9.9% to $132.9m in October, while table game revenue also fell by 2.8% to $58.3m.

Looking at year-to-date figures, total gambling revenue for the 10 months to the end of October was $2.28bn, down 20.7% on the same point last year.

Land-based casino revenue was 45.9% lower at $1.22bn, but igaming revenue was 102.8% higher at $779.1m and sports betting revenue up 18.8% to $281.6m.