NJ igaming and sports betting revenue dips in April

15 May 2019

New Jersey has reported a month-on-month decline in both sports betting and online gaming revenue for April, after the state was boosted in the previous month by the March Madness collegiate sports series.

Total gaming revenue for the month amounted to $265.4m (£205.4m/€236.7m), which is down from $294.0m in March but up on $214.4m in the corresponding month last year.

Land-based casinos continue to be the main source of income by some margin, generating $207.6m in revenue in April, up 8.4% year-on-year. Slots win was up 6.1% to €144.9m while table games win also increased 14.3% to $62.7m.

Online gaming revenue rocketed 58.9% year-on-year from £23.0m in April 2018 to $36.6m. However, this is down from the record €39.1m that was made in March of this year.

Slots and table games remain the gambling activities of choice for most players, with revenue up 64.2% year-on-year to $34.9m, whereas online peer-to-peer (poker) revenue slipped 5.3% to $1.67m.

Golden Nugget maintained its place at the head of New Jersey’s igaming market with revenue of $13.9m in April, up 70.3% from $8.1m in the same month last year. Resorts Digital followed in second on $7.1m, up 97.6% year-on-year, and then the Borgata Hotel Casino & Spa on $5.5m.

Meanwhile, sports betting fell from a record $31.7m in March to $21.2m, partly because the previous month benefitted from the hugely popular March Madness.

Meadowlands, working with Paddy Power Betfair’s FanDuel division, remains some way out in front with sports betting revenue of $12.1m.

Resorts Digital and its partner DraftKings followed in second with revenue of $4.7m, while Monmouth Park and William Hill ranked third with $2.6m. Ocean Resort fell just short of the million-dollar revenue mark in April, ending the month with $837,730.

For the year-to-date, through to the end of April, total gaming win in New Jersey stood at $1.03bn, up 27.3% on $809.3m at the same point last year.

Online gambling revenue was up 52.4% year-on-year to $141.1m, while sports betting win, which does not have a comparative total, totalled $84.4m.