New Jersey igaming delivers new monthly revenue high in October

New Jersey has seen its October gaming revenue dip slightly YoY following a drop in both casino win and sports wagering gross revenue.
Image: Shutterstock

New Jersey has seen its total gaming revenue for October dip slightly year-over-year following an over 7% drop in both casino win and sports wagering gross revenue compared to the previous year.

However, the Garden State’s igaming operations did achieve a new monthly revenue record of $147.2m, beating the previous best of $140.6m set in March 2022.

The New Jersey Division of Gaming Enforcement has reported a total gaming revenue (casinos, racetracks, and their partners) of $445.7m, a 0.7% decrease YoY (October 2021: $448.7m).

Year-to-date numbers look much better for the Garden State, as total gaming revenue currently stands at $4.32bn, a 10.8% increase YoY (2021: $3.89bn).

Per vertical, sports betting and casino saw declines in their YoY revenue numbers in October by over 7%, while igaming grew by almost 16%.

Sports betting revenue fell by 7.4% YoY to $77.9m during the month (2021: $84.2m). YTD, sports wagering income stands at $594.8m, a 7.3% decrease YoY (2021: $641.9m).

The vertical’s handle for the month hit $1.06bn, with $987.6m coming from online operators and $72.55m from retail.

In terms of revenue per operator, Meadowlands/FanDuel/PointsBet remained New Jersey’s top sports betting operator in October with $45.4m (2021: $44.1m), followed by DraftKings/Resorts/FoxBet with $17.1m (2021: $15.9m), and Borgata/BetMGM with $9.5m (2021: $8m).

Igaming win for October in New Jersey hit a new high of $147.2m, beating the previous best of $140.6m set in March earlier this year, while also being a 15.9% increase YoY (2021: $127m). YTD, igaming revenue stands at $1.37bn, a 22.3% YoY uptick (2021: $1.12bn).

Per operator, Borgata led the way with $40.99m in revenue (2021: $38.83m), followed by Resorts Digital with $39.3m (2021: $29.3m), and Golden Nugget with $38.4m (2021: $34.49m).

Casino win for the nine casino hotel properties in New Jersey for October $220.6m, a 7.1% decrease YoY (2021: $237.5m). YTD, casino win stands at $2.36bn, a 10.3% increase YoY (2021: $2.14bn).

Per operator, Borgata was the best-performing casino with $62.4m (2021: $61.7m), followed by Hard Rock with $38.95m (2021: $37.44m), and Ocean Casino with $28.3m (2021: $30.1m).