Sports Betting and iGaming Lead to Higher New Jersey Revenues
LISTEN TO THIS ARTICLE:The Division of Gaming Enforcement (DGE) in New Jersey has published its latest report with details of how licensed gambling operators performed in September.
The report reveals that total gaming revenue from casinos, racetracks, and associated partners reached $521.5 million last month, a 7.5% rise compared to the $485 million reported in the same period last year.
Industry Recovers from Pandemic
This recent uptick also surpassed figures from before the pandemic. In September 2019, prior to COVID-19, total gaming revenue was at $303.5 million. When compared to this, the current revenue shows a 71% increase, signaling a steady recovery for the industry post-pandemic.
Furthermore, the report indicated an increase in year-to-date total gaming revenue as well. So far, the total for this year has reached $4.29 billion, which is a 10.8% increase over last year’s $3.87 billion.
Growth in Sports Betting and Online Gaming
A closer look at the $521.5 million revenue in September reveals that sports betting and online gambling were the main contributors to this growth. Revenue from sports betting reached $111.1 million last month, a 13.4% increase from the $98 million in September of the previous year. The total sports betting handle for this September was $1.3 billion, compared to $866.7 million last year.
Online gaming revenue also saw a significant increase. It rose by 21.1% to $163.8 million this September, compared to $135.2 million in September of last year.
In contrast, the retail sector saw a minor decline. Casino wins in September amounted to $246.5 million, which is a 2.1% decrease from last year’s $251.7 million. However, when compared to pre-pandemic figures from September 2019 of $224.5 million, it is still a notable increase.
Mixed Results among Operators
Out of 14 retail casinos and racetrack operators in New Jersey, only four showed an increase in total gaming revenue for September. Resorts Digital reported a significant 68.3% increase in its total gaming win, amounting to $95.3 million, according to DGE figures.
Ocean Casino also performed well, with a 33.3% increase, bringing its total gaming win to $44.7 million. Additionally, Golden Nugget and Hard Rock recorded total gaming wins of $57.9 million and $58.1 million, up by 20.9% and 13.6%, respectively.
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