Total market revenue in July amounted to $547.8m (£423.4m/€496.7m) according to New Jersey Division of Gaming Enforcement figures. This is 8.2% more than $506.2m in New Jersey last year and also 11.6% more than June this year.
Despite the year-on-year decline, land-based gambling remains the main source of revenue. In July, land-based revenue topped $272.3m, down from $290.0m last year. Of this, $207.3m came from slots, a drop of 4.8%, while table games revenue also fell 10.0% to $65.0m.
How far is igaming from overtaking land-based in New Jersey?
The decline in land-based revenue begs the question: could it be surpassed by igaming? For July, igaming revenue hit $195.4m, a 25.9% increase from the same month last year.
Of all igaming revenue, $192.8m was attributed to slots and table games, an increase of 26.4%. The remaining $2.6m came from peer-to-peer poker, down 2.4%.
New Jersey icasino gross revenue by skin
Master licenseeiCasino skinGross revenueBally’s ACBallyCasino$5,707,197Bally’s ACVirginCasino$1,628,199Bally’s ACFanatics$2,452,037BorgataBorgata$18,774,803BorgataBetMGM$25,262,988BorgataPartyPoker$1,369,322BorgataPala/Stardust$938,633BorgataWheel of Fortune$704,883Golden NuggetGolden Nugget Online Gaming$8,679,224Golden NuggetFanDuel$37,761,067Golden NuggetBetRivers$6,528,522Golden NuggetBetway$157,848Golden NuggetJackpot City$417,876Hard RockHard Rock Bet$10,353,857Hard RockBet365$1,669,923Harrah’s ACJackpocket$970,669Ocean Casino ResortOcean$1,553,782Ocean Casino ResortParx$1,271,499Ocean Casino ResortTipico$3,054Ocean Casino ResortPlaystar$2,490,233Resorts Resorts Casino$1,941,427ResortsMohegan Sun$1,199,012ResortsPokerStars$1,379,929ResortsDraftKings$41,668,119ResortsESPN Bet$2,780,711TropicanaCaesars Palace$12,185,659TropicanaTropicana Casino$2,674,231TropicanaHarrah’s Casino$1,224,618TropicanaWSOP$1,646,525
While the skins operating under Golden Nugget’s collectively generated the most revenue, New Jersey’s breakdown of revenue by skin shows DraftKings led the market with $41.7m in revenue for the month. FanDuel, one of Golden Nugget’s skins, followed in second on $37.8m.
Sports betting revenue jumps 31.2%
July is traditionally a quieter month for sports betting but New Jersey’s sportsbooks were the fastest growing segment in the market.
Total player spend hit $652.3m, a rise of 11.1%, with $624.3m coming from online and $28.0m retail. A strong 12.3% hold meant operators generated revenue of $80m, up 31.2% year-on-year.
New Jersey sports betting revenue by skin
Master licenseeSports betting skinGross revenueBally’s ACSporttrade($199,293)Bally’s ACFanatics$2,661,170BorgataBetMGM$5,248,028BorgataBorgata$789,471Golden NuggetGolden Nugget
Online Gaming–Golden NuggetBetway$75,897Hard RockHard Rock Bet$1,152,267Hard RockBet365$3,029,262Hard RockUnibet–Harrah’s ACProphet Exchange–Harrah’s ACBetParx$147,724Ocean Casino ResortTipico$1,223Ocean Casino ResortPrime$398,061ResortsDraftKings$25,947,164TropicanaCaesars Sportsbook$2,914,938Freehold RacewayESPN Bet$2,437,139Freehold RacewayPlayUp–MeadowlandsFanDuel$31,932,815MeadowlandsPointsBet–MeadowlandsSuperbook$40,494Monmouth ParkCaesars Sportsbook$447,179Monmouth ParkBetRivers$928,369
With revenue of $31.9m, FanDuel leads the market ahead of DraftKings on $25.9m. BetMGM is best of the rest on $5.2m, with Caesars Sportsbook ($2.9m), Fanatics ($2.7m) and ESPN Bet ($2.4m) its closest challengers.
iGaming biggest tax contributor in New Jersey
New Jersey collected a total of $56.8m in taxes for July. The majority of this – $29.4m – was attributed to igaming activity, which is taxed at 15% on gross revenue.
Internet sports betting, taxed at 13% of gross revenue, generated $10.1m in tax, while retail sports betting, which has a lower tax rate of 8.5%, led to $122,142 in tax.
The remaining $17.1m in monthly tax during July came from the 8=% gross revenue tax on land-based casinos.
The year so far: Land-based down, igaming and sports up
Looking at the state’s year-to-date figures, total revenue for the seven months to the end of July was $3.61bn. This is 11.5% higher than at the same point last year.
Land-based casino win is 1.0% lower at $1.63bn, but still the main source of revenue. Slots revenue slipped 1.1% to $1.21bn and table games 0.8% to $422.8m.
Igaming revenue is 22% ahead of last year at $1.33bn. This includes $1.31bn from other authorised games, up 22.4%, and $16.7m poker, down 4.0%.
Sports betting revenue also increased 30.1% to $653.1m, partly due to a 28.9% increase in handle to $7.41bn.
As for tax, some $388.1m was collected by the state in the seven-month period.