There was a 5% increase in gambling revenue in New Jersey during April compared to the previous year. The growth in the iGaming sector helped to offset declines in both sports betting and land-based casinos.
The total revenue for the month reached $536.6 million, surpassing the $510.9 million from April 2024 but falling 1.7% behind March of this year.
Once again, iGaming outperformed land-based casinos in terms of revenue generated in New Jersey. However, the broader market growth was hindered by declines in other areas, as indicated by data from the New Jersey Division of Gaming Enforcement.
Revenue from iGaming comes close to record levels
The revenue from iGaming amounted to $235.2 million, marking a 25.2% increase from the previous year and just falling short of the $243.9 million record set in March.
Out of this total, $232.8 million came from various authorized games like slots, showing a 25.4% increase. The remaining $2.4 million was generated from online poker, reflecting a 3.2% rise.
Leading the market were FanDuel and Golden Nugget Atlantic City with $52.9 million in revenue, a 35.3% increase. DraftKings and Resorts Casino Hotel followed with $46.9 million, a rise of 19.5%.
Next in line were BetMGM and Borgata with $29.6 million in iGaming revenue, Borgata’s own brand with $20.8 million, and Caesars and Tropicana Atlantic City with $15.9 million, completing the top five.
Sports betting revenue decreases in New Jersey
While online casino revenue continued to grow, the sports betting market experienced a decline, with revenue dropping by 14.8% year-on-year to $90.5 million.
Online sports betting revenue fell by 15.7% to $87.9 million, but there was a positive development in the retail sector, where revenue increased by 34.1% to $2.6 million.
The total monthly handle stood at $994.4 million, down 1.5% from the previous year and 10.4% from March. Online betting wagers amounted to $954.1 million, while retail spending reached $40.4 million.
Consequently, the state’s hold for the month was 9.1%.
Among operators, FanDuel and Meadowlands led the way with $31.8 million in revenue. Data on handle for individual operators was not disclosed.
DraftKings and Resorts Casino Hotel followed with $22.8 million, BetFanatics and Bally’s with $12.9 million, BetMGM and Borgata with $7.1 million, and Bet365 and Hard Rock with $5.6 million, completing the top five.
In terms of retail, Meadowlands dominated the market with $1.7 million in revenue.
Land-based casinos continue to lag behind online counterparts
The monthly report revealed a 2.7% decrease in land-based casino revenue to $211 million. While casinos were historically the primary revenue source for gambling in New Jersey, the rise of iGaming has pushed them into second place.
Slot machine revenue increased by 2.1% to $162.2 million, but revenue from table games dropped by 16% to $48.8 million.
In terms of taxation, the total for the month exceeded $59.8 million, with contributions from various sectors including $35.3 million from iGaming, $12.7 million from land-based casinos, $11.5 million from online sports betting, and $212,287 from retail sports wagering.
