The Garden State’s gambling earnings in April climbed, even though traditional gambling saw a dip.
New Jersey’s gambling profits in April rose 10.4% year-over-year to $510.9 million (£403.7 million/€470.6 million), hitting a total of $510.9 million (£403.7 million/€470.6 million). This growth was driven by the increase in internet gambling and sports betting, which counterbalanced the decline.
The total earnings were considerably higher than the $462.7 million recorded in April of the previous year. However, the figure was 3.0% lower than the $526.6 million reported by New Jersey in March.
Starting with brick-and-mortar casinos, this remains the primary source of gambling revenue in the Garden State. However, the $216.8 million generated in April was down 6.3% from the same period last year.
Physical slot machine income decreased by 6.4% to $158.8 million, while land-based table game revenue also fell by 6.1% to $58.1 million.
New Jersey online gambling continues to thrive
Looking at the online gambling sector, the story is quite different. Revenue from all online gambling in April reached $187.9 million, up 18.2% year-over-year. This means that online gambling in April was only $28.9 million less than the historically established land-based gambling sector.
Of all online gambling revenue, $185.6 million was attributed to online slot machine games, with revenue in this area growing by 18.5% to $185.6 million. However, revenue from peer-to-peer poker fell by 0.5% to $2.3 million.
As for individual operators, Golden Nugget jumped from third to first place in New Jersey in April.
Digital wagering earnings surged by 27.5% in April, hitting $53.1 million.
Resorts Digital came in second with $47.5 million in earnings, a 13.9% increase year-on-year. Borgata was third with $44.1 million in earnings, up 2.2%, after topping the list in March.
Sports betting earnings nearly doubled to $106.2 million, a 46.9% year-on-year increase. This represents a 74.1% jump from the $61 million recorded in March.
The rise in earnings was fueled by a surge in wagering, which reached $1.044 billion in April, a 12.6% year-on-year increase. Online sports betting players spent $1.01 billion, while retail sports betting generated $34.7 million.
Meadowlands remains the top player in the New Jersey sports betting market with $73.2 million in earnings, a 92.2% increase from 2023. Meadowlands partners with FanDuel, which is owned by Flutter Entertainment.
Resorts Digital and its partner DraftKings came in second with $18.9 million in earnings, down 6.6%. Borgata and BetMGM were third with $5.2 million in earnings, down 21.6%.
New Jersey gambling earnings have surpassed $2 billion in four months.
Total gambling earnings in New Jersey reached $2.06 billion in the four months ending in April, a 14.4% increase from the same period last year.
Traditional gambling earnings fell 1.6% to $872.9 million, with both slot machines and table games experiencing declines.
Digital gambling earnings rose 21.1% to $750.7 million, driven by a 21.5% increase in slot machine earnings to $741.3 million. In contrast, peer-to-peer poker earnings fell 3.7% to $9.4 million.
Regarding sports wagering, a total of $434.2 million in income was produced over a four-month span. This signifies a 48.6% surge in comparison to $292.3 million in 2023, with bettors placing a total of $5.17 billion during this timeframe.
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