Impressive Revenue Results for New Jersey Casinos
The anticipated upturn with online casinos in New Jersey is starting to materialize, according to September revenue reports.
The state’s gross gaming revenue for September was $122.6m, which is up a staggering 29.9% from the same period last year.
$120.1m of the revenue came from online casino games, whilst the remainder was generated from online poker.
BetMGM/Borgata generated the largest share of casino and poker revenue at $38.2m, whilst Golden Nugget and Resorts Digital generated $31.1m and $28.3m, respectively.
Acceptance of online casino gambling accelerated during the pandemic, and it has left the industry with its most consistent revenue driver. There was once a fear that online gaming would sap Atlantic City of its appeal. But as retail gaming slowly returns to health, it shows that the industry is stronger with a diverse revenue stream from online and retail casinos and sportsbooks.
Online sportsbooks also fared well during September, with total wagering of $918.4m throughout September Meadowlands, FanDuel, PointsBet, and SuperBook leading the way with $36.6m in total revenue, which was up from 23.6m in August.
David Danzis added that wagering on football is a vital component for any sportsbook to be successful and that New Jersey, in general, has now become a market with no equals.