NJ sports and igaming grow, but casinos struggle in July

13 August 2020

New Jersey’s sports betting revenue climbed 65.2% year-on-year in July, but the state’s land-based casino market saw further declines as it continued to feel the impact of novel coronavirus (Covid-19) restrictions.

Sportsbook revenue amounted to $29.6m (£22.6m/€25.0m) in July, up from $17.9m in the same month last year, while the figure also represented a 103.2% month-on-month increase on the $12.6m recorded in June this year.

Consumers wagered a total of $315.1m with sportsbooks in New Jersey, up by 25.3% on last year, with players again favouring online. Some $295.8m was bet online, compared to $19.3m wagered in-person at retail facilities.

The market was boosted by the return of several major sports events later in the month, such as the National Basketball Association and Major League Baseball.

Meadowlands and sub-licensees FanDuel and PointsBet remained some way out ahead in terms of sports wagering revenue, posting $14.1m for the month, up 22.0% year-on-year.

Read the full story on iGB North America.