New Jersey sports betting revenue continues summer dip in July

The New Jersey Division of Gaming Enforcement (DGE) has reported YoY growth in casino and igaming wins in July, but a decrease in sports betting revenue.
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The New Jersey Division of Gaming Enforcement (DGE) has reported the state’s gaming revenues and win totals for July, declaring year-over-year growth in casino and igaming wins, but a decrease in sports betting revenue.

Publishing the Garden State’s July gaming results, the DGE announced that total gaming revenue at the state’s casinos, racetracks, and their partners was $480.7m, a 6.7% increase YoY (2021: $450.6m).

Year-to-date, total gaming revenue currently stands at $2.91bn, a 13.7% YoY improvement (2021: $2.56bn).

New Jersey sports betting revenue decline persists

New Jersey’s sports wagering gross revenue during the month came in at $45m, an 18.1% YoY decrease (2021: $55m). Year-to-date, sports betting revenue stands at $353.2m, a 16.6% YoY decline (2021: $423.3m).

The DGE reported a sports betting handle for July of $531.8m, with $494.8m of that handle coming from online sports wagering, and $36.9m coming from retail.

Sports betting figures are expected to pick up in the Garden State and across the US once the sports calendar resumes with the return of the NFL and college football in August and September.

In terms of revenue per operator, Meadowlands/FanDuel/PointsBet was New Jersey’s best-performing sports betting operator during the month with $25.2m (2021: $31.7m), followed by DraftKings/Resorts/FoxBet with $8.4m (2021: $10.6m), Borgata/BetMGM with $4.3m (2021: $6.2m) and Tropicana/William Hill with $2.5m (2021: $161,556).

Casino and igaming see YoY growth

The DGE also declared that the total casino win for New Jersey’s nine casino hotel properties in July was $299m, an 8% growth YoY (2021: $276.9m). Year-to-date, the total casino win stands at $1.61bn, a 16% YoY uptick (2021: $1.39bn).

Per vertical, slot machine win led the way during the month with $215.8m, a 5.5% increase YoY (2021: $204.6m) while table game win came in at $83.1m, a 15% improvement YoY (2021: $72.2m).

Borgata stayed in the best-performing casino operator spot in July with $76.7m (2021: $63.8m), followed by Hard Rock with $52.8m (2021: $47.7m), Ocean Casino with $40.3m (2021: $30.3m), Harrah’s with $26.4m (2021: $29m), and Caesars with $25.1m (2021: $26m).

In igaming, the DGE reported a win of $136.7m during the month, a 15.2% growth YoY (2021: $118.7m). Year-to-date, igaming win stands at $951.2m, a 26.3% improvement YoY (2021: $752.9m).

Per operator, Borgata remained as New Jersey’s igaming leader in July with $42.9m (2021: $36.4m), followed by Golden Nugget with $34.5m (2021: $33.5m), Resorts Digital with $30.4m (2021: $23.2m), Caesars with $10.9m (2021: $10.1m), and Hard Rock with $5.7m (2021: $6.6m).

Across casino, igaming, and sports betting, the DGE has declared that $45.9m was paid in state taxes during July. Year-to-date, $292.9m has been paid in state taxes.