New Jersey Gambling Revenue Surges in April, Fueled by Online Growth

The Garden State’s gambling income in April exhibited a positive trend, despite a reduction in revenue from brick-and-mortar casinos.

New Jersey’s gambling earnings in April climbed by 10.4% annually to $510.9 million (£403.7 million/€470.6 million), with growth in online gambling and sports betting counterbalancing the decrease in the physical casino market.

Overall income was significantly higher than the $462.7 million reported in April of the previous year. Nevertheless, the figure was 3.0% lower than the $526.6 million reported by New Jersey in March.

Beginning with physical casinos, this remains the primary source of gambling income in the Garden State. However, the $216.8 million generated in April was down 6.3% from the same period last year.

Income from physical slot machines dropped by 6.4% to $158.8 million, while income from physical table games also decreased by 6.1% to $58.1 million.

New Jersey’s online gambling business continues to flourish.
Shifting to the online gambling sector, the picture is quite different. Revenue from all online gambling in April reached $187.9 million, a year-on-year increase of 18.2%. This means that online gambling was only $28.9 million lower than the historically dominant physical casino sector in April.

Of all online gambling revenue, $185.6 million was attributed to online slot games, with income in this area increasing by 18.5% to $185.6 million. However, income from peer-to-peer poker fell by 0.5% to $2.3 million.

Regarding individual operators, Golden Nugget ascended to the top spot in New Jersey in April from third place.

Internet wagering income achieved $53.1 million, a 27.5% surge from the corresponding period last year.

Resorts Digital secured the second spot with $47.5 million in earnings, reflecting a 13.9% year-on-year increase. Borgata, which held the top position in March, now occupies third place with $44.1 million in revenue, representing a 2.2% rise.

Sports wagering income nearly doubled to $106.2 million. The sports betting sector witnessed a 46.9% year-on-year increase in revenue, reaching $106.2 million. This also signifies a 74.1% jump from the $61 million recorded in March.

Year-on-year revenue growth was fueled by a 12.6% surge in handle, which attained $1.044 billion in April. Online sports betting player spending hit $1.01 billion, while retail sports betting spending reached $34.7 million.

Meadowlands remains the frontrunner in New Jersey’s sports betting market, boasting $73.2 million in revenue, a 92.2% increase from 2023. Meadowlands collaborates with FanDuel, a subsidiary of Flutter Entertainment.

Resorts Digital and its partner DraftKings secured the second position with $18.9 million in revenue, experiencing a 6.6% decline. Borgata and BetMGM claimed the third spot with $5.2 million in revenue, reflecting a 21.6% drop.

New Jersey gambling income surpassed $2 billion within four months. Total gambling revenue in New Jersey reached $2.06 billion in the four-month period ending in April. This represents a 14.4% increase from the corresponding period last year.

Traditional gambling revenue dipped by 1.6% to $872.9 million, with declines observed in both slot machines and table games.

Internet gambling revenue surged by 21.1% to $750.7 million, driven by a 21.5% increase in slot machine revenue, reaching $741.3 million. In contrast, peer-to-peer poker revenue fell by 3.7% to $9.4 million.

The realm of sports wagering witnessed a substantial surge in the past four months, with the aggregate amount of bets reaching a staggering $434.2 million! This represents a colossal 48.6% upswing in comparison to the corresponding period last year, when punters placed bets totaling $292.3 million. In the grand scheme of things, bettors collectively spent a total of $5.17 billion on sports betting during this timeframe.

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