NJ sports betting revenue recovers in July
New Jersey’s regulated sports betting market has seen revenue leap to $17.9m in July, complementing slower growth from the state’s land-based and online casino verticals.
Following June’s decline, market revenue rebounded in July, rising 84.3% month-over-month. The total represented a significant improvement on the prior year’s $3.8m, when just five operators had gone live.
Total handle amounted to $251.4m, of which $213.0m was generated online, compared to $38.3m wagered through the state’s land-based sportsbooks.
Of the eleven operators now active in the market, Meadowlands Racetrack, with Flutter Entertainment’s FanDuel operating under its licence, has established itself far ahead of the competition, with revenue of $9.1m.
This saw it pull ahead of Resorts Digital and its partner DraftKings, previously its closest competitor, which generated revenue of $3.7m in July. Monmouth Park, allied with William Hill, followed in third with $2.0m.
The Borgata, which opened a new $12m sportsbook during the month, saw revenue grow strongly, rising from $64,249 in June to $859,478.