New Jersey has seen all its gaming verticals undergo year-over-year growth in December, with sports betting improving YoY for the first time since September.
Elsewhere, casino revenue saw a slight increase compared to the previous year, while igaming operations continued their growth trajectory by setting a new monthly revenue record.
Publishing a report on its website, the New Jersey Division of Gaming Enforcement (NJDGE) declared total gaming revenue – casinos, racetracks, and their partners – of $454.8m for December, a 12.5% increase YoY when compared to the $404.1m reported in December 2021.
Year-to-date, total gaming revenue in the Garden State currently stands at $5.21bn, a 10% increase from the $4.74bn reported in the same period last year.
New Jersey sports betting improves drastically
Per vertical, it was sports wagering that saw the most significant increase YoY by 48.5% to $87.7m, followed by igaming with a 13.7% YoY improvement to $151.5m, while casino win only rose by 1.8% YoY to $215.6m.
The NJDGE stated that sports betting’s 48.5% YoY improvement in December revenue to $87.7m (December 2021: $59m) in New Jersey was accomplished from a handle of $1.05bn – $998.4m from online operations.
It was also the first time the vertical had improved against YoY comparatives since September after going through YoY declines in October and November.
YTD, sports wagering revenue stands at $763m, a 6.5% drop compared to the same period last year (2021: $815.8m), with a total handle for the year of $10.9bn.
Per operator, Meadowlands/FanDuel/PointsBet remained the state’s top sportsbook with $44.2m (2021: $29.9m), followed by DraftKings/Resorts Digital/FoxBet with $21.9m (2021: $12.4m), and Borgata/BetMGM with $9.47m (2021: $6.93m).
Tropicana/Caesars/Mojo declared revenues for the month of $5.5m (2021: $2.9m), and Freehold/Barstool/betPARX had revenues of $3.3m (2021: $3.4m).
Sports betting could continue to remain strong over the next month in New Jersey, especially if one of either the New York Giants or the Philadelphia Eagles makes a run to the Super Bowl. The two teams are set to play against each other in the NFL playoffs this weekend.
Igaming revenue hits new high
The Garden State’s igaming operations set a new monthly revenue record in December of $151.4m, beating the previous best set in October of $147.2m.
The NJDGE noted that the $151.4m was a 13.7% YoY improvement (2021: $133.2m). YTD, igaming revenue stands at $1.66bn, a 21.6% increase YoY (2021: $1.37bn).
Borgata continued as the leader in igaming win in December with $43.7m (2021: $37m), followed by Resorts Digital with $40.4m (2021: $32.9m), who leapfrogged Golden Nugget into second spot after the latter only recorded $37.7m (2021: $36m).
Besides Caesars Interactive NJ reporting $9.57m (2021: $10.4m), no other igaming operator made more than $6m in December revenue.
Further adjustments could be on the horizon for igaming in January, as last month, PokerStars confirmed that it will combine liquidity pools from Michigan and New Jersey starting from Jan. 1, allowing players in the two states to play against each other.
Casino revenue for the state’s nine casinos in December, according to filings with the NJDGE, came in at $215.6m, a narrow 1.8% increase YoY (2021: $211.8m). Slots produced $153.9m in revenue (2021: $150.5m), while table games generated $61.6m (2021: $61.3m).
YTD, casino win stands at $2.79bn, a 9% improvement YoY (2021: $2.55bn).
Borgata led all casino operators with $60.5m (2021: $54.3m) in revenue, followed by Hard Rock with $37.5m (2021: $35.5m), Ocean Casino with $29.4m (2021: $26.5m), Harrah’s with $20.2m (2021: $23.8m), Tropicana with $18.3m (2021: $19.3m), and Caesars with $16.6m (2021: $19m).
No other casino operator in the state reported revenues of more than $12m.
For December, gaming operators paid $47.7m in state taxes to New Jersey, bringing the total amount paid in state taxes for the year to $526.4m.