Gambling revenue in New Jersey reached $606.2 million in July, up 10.7% from the previous year.
Gambling revenue in New Jersey increased 10.7% year-on-year during July despite a decline in the Garden State’s sports betting market.
Total revenue for the month amounted to $606.2 million, up from $547.8 million in July last year. It also surpassed June of this year by 4.2%, data from the New Jersey Division of Gaming Enforcement showed.
Revenue was higher across online gambling and land-based casinos, although sports betting was lower year-on-year. Retail sportsbooks even reported a net loss for the month.
iGaming revenue jumps 26.6% in New Jersey
Looking first at the primary growth area for the state, iGaming revenue was 26.6% higher at $247.3 million. Casino games, including slots, climbed 26.9% to $244.6 million while internet poker revenue was up 3.2% to $2.7 million.
FanDuel and Golden Nugget again led the way with $52.1 million, a rise of 37.8%. DraftKings and Resorts World placed second, with revenue rising 16.8% to $48.6 million.
BetMGM and Borgata placed third with $31.4 million, up 24.3%. Borgata’s own platform also drew $20 million in iGaming revenue, a rise of 6.4%. Caesars Palace and Tropicana Atlantic City completed the top five with $18.7 million, up 53.3%.
Sports betting revenue dips 6.6% in July
Turning to sports betting, revenue slipped 6.6% to $74.8 million. Online revenue dropped 3.2% to $75.4 million, while retail wagering generated a $680,018 loss, compared to $2.1 million in revenue last year.
Total spend on sports betting in July stood at $664 million, a rise of 1.8%. Online spend hit $630.9 million, with retail wagering at $33.1 million.
This resulted in a monthly hold of 11.27%.
In terms of operators, FanDuel and Meadowlands remained the online market leader with $26.9 million in revenue, down 15.7%. The DGE does not publish handle data for individual operators.
DraftKings and Resorts World took second with $21.1 million, down 18.8%. BetFanatics and Bally’s placed third with $8 million, a rise of 200.2%, ahead of Borgata and BetMGM with $6.4 million, up 21.5%. Fifth-placed Bet365 and Hard Rock also reported an increase, with revenue rising 45.4% to $4.4 million.
As for retail sportsbooks, racetrack revenue hit $434,608, down 63.5%. Meadowlands led the way with $320,610, although this was 54% lower than last year. However, a $1.1 million loss from casino-based sportsbooks resulted in an overall retail loss.
Land-based casino revenue up to $284.1 million
Meanwhile, revenue from land-based casino gaming edged up 4.3% to $284.1 million in New Jersey. Slot machine revenue increased 2.7% to $212.9 million, with table game revenue up 9.7% to $71.3 million.
As for tax, the state’s total income in July was $81.7 million. Of this, $48.9 million came from iGaming, $14.9 million from sports betting, $86,248 retail betting and $17.9 million land-based casinos.
For the year-to-date, total gambling revenue in New Jersey has topped $3.92 billion, up 8.8% from the end of July last year. Revenue from iGaming was 23.3% higher at $1.63 billion, sports betting revenue dipped 4% to $626.8 million and casino revenue climbed 2.2% to $1.66 billion.