NJ sets sports betting and igaming revenue records in March

15 April 2019

New Jersey's licensed igaming and sports betting operators set new monthly revenue records for each vertical in March, which helped the state post a 34.5% year-on-year increase in gaming revenue to $294.0m (£224.7m/€259.8m) for the month.

Land-based casinos remain the main source of gaming income in the state, with casino win up by 15.7% year-on-year to $223.2m. Slots win drove growth in this market, with revenue up by 18.5% to $162.6m, while table games revenue also increased 8.7% year-on-year to $60.5m.

In terms of online gambling, revenue was up by 53% to $39.1m, surpassing the previous monthly total set in January of this year, according to figures released by the New Jersey Division of Gaming Enforcement.

Growth in the online gaming market came from products such as slots and table games, with revenue for such services up 57.7% to $37.2m. In contrast revenue from online peer-to-peer games (poker) fell 1.6% to $5.60m – the only market sector that saw a decline in March.

Golden Nugget remains some way out on front as the leading operator in the market, generating revenue of $14.2m in March, up 64.4% on the same month last year.

Resorts Digital saw its online gambling revenue more than double on a year-on-year basis, with the $8.5m posted in March up by 100.1% on the $4.2m that it recorded in the same month in 2017.

The Borgata Hotel Casino & Spa retained third place with igaming revenue of $5.4m for the month, up 18.7% on last year, with Caesars Interactive in fourth on revenue of $5.1m, up 16.4% on March 2018.

Meanwhile, New Jersey saw sports wagering revenue hit $31.7m in March, the highest monthly total since the state moved to legalise sports betting in the wake of the US Supreme Court ruling on PASPA in May last year.

Meadowlands, in partnership with Paddy Power Betfair’s FanDuel, remains the market leader with sports betting revenue of $17.6m for March. This is more than double the $8.1m in reported in February.

Resorts Digital and partner DraftKings, ranked second with revenue of $7.2m, up from $3.7m in February, while Monmouth Park and William Hill was the only other sports wagering partnership to post revenue in the millions of dollars for the month ($1.96m).

A busy March means total gaming win for the state during the first three months of the year amounted to $764.8m, up 28.6% on the same point in 2018.

Online gambling win was up by 50.3% year-on-year to $104.5m, while sports betting revenue, which does not have a comparative total, amounted to $63.2m in the period.