New Jersey’s gaming income in April climbed despite a drop in traditional gambling revenue.
New Jersey’s gambling income in April jumped 10.4% year-over-year to $510.9 million (£403.7 million/€470.6 million), with growth in internet gambling and sports betting offsetting declines in the brick-and-mortar gambling market.
New Jersey’s gambling income in April increased despite a decline in land-based gambling revenue.
Overall income was noticeably higher than the $462.7 million reported in April of the previous year. However, the figure was 3.0% lower than the $5.266 billion reported by New Jersey in March.
Starting with physical casinos, this is still the main source of gambling revenue in the Garden State. However, the $216.8 million generated in April was down 6.3% from the same period last year.
Land-based slot machine revenue fell 6.4% to $158.8 million, while land-based table game revenue also fell 6.1% to $58.1 million.
New Jersey online gambling continues to thrive
Moving to the online gambling space, the picture is very different. Revenue from all online gambling in April reached $187.9 million, up 18.2% year-on-year. This means that online gambling was only $28.9 million behind the long-standing land-based gambling sector in April.
Of all online gambling revenue, $185.6 million was attributed to online slot games, where revenue grew 18.5% to $185.6 million. However, revenue from peer-to-peer poker fell 0.5% to $2.3 million.
As for individual operators, Golden Nugget jumped from third place to first place in New Jersey in April.
Digital wagering earnings hit $53.1 million, a 27.5% climb from the same timeframe last year.
Resorts Digital came in second with $47.5 million in earnings, up 13.9% annually. Borgata claimed the third spot with $44.1 million in earnings in March, up 2.2%.
Sports wagering earnings almost doubled to $106.2 million.
Now let’s examine the sports wagering market, where earnings grew 46.9% annually to $106.2 million. This also represents a 74.1% increase compared to the $61 million recorded in March.
The year-over-year increase in earnings was fueled by a 12.6% surge in handle, reaching $1.044 billion in April. Online sports bettors spent $1.01 billion, while retail sports betting spending reached $34.7 million.
Meadowlands remains the leader in New Jersey’s sports wagering market, with earnings of $73.2 million, up 92.2% from 2023. Meadowlands partners with FanDuel, owned by Flutter Entertainment.
Resorts Digital and its partner DraftKings came in second with $18.9 million in earnings, down 6.6%. Borgata and BetMGM ranked third with $5.2 million in earnings, down 21.6%.
New Jersey gambling earnings surpassed $2 billion in four months.
Total gambling earnings in New Jersey reached $2.06 billion in the four months ending April. This is up 14.4% from the same timeframe last year.
Land-based gambling earnings dipped 1.6% to $872.9 million, with declines in both slot machines and table games.
Digital gambling earnings climbed 21.1% to $750.7 million, driven by a 21.5% increase in slot machine earnings to $741.3 million. Conversely, peer-to-peer poker earnings fell 3.7% to $9.4 million.
The realm of sports wagering has witnessed a dramatic upswing in the last four months, with a staggering $434.2 million placed in bets. This signifies a remarkable 48.6% jump compared to the $292.3 million wagered in 2023. Gamblers have collectively invested a total of $5.17 billion during this timeframe.
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