Home > Finance > New Jersey gambling revenue rockets 326.4% YoY in April

New Jersey gambling revenue rockets 326.4% YoY in April

| By Robert Fletcher
Gambling revenue in New Jersey jumped 326.4% year-on-year to $352.2m (£250.0m/€290.2m) in April as the US state continued its recovery from the novel coronavirus (Covid-19) pandemic.
New Jersey February

Total market revenue was significantly higher than the $82.6m reported in the same month last year, though April 2020’s figures were impacted by Covid-19 shutdowns.

All land-based casinos, sportsbooks and gaming halls were closed for all of April 2020 due to Covid-19 restrictions, while sports betting options were severely limited as almost all sports events were cancelled or postponed.

On a month-on-month basis, revenue slipped 2.0% from the $359.3m generated in March this year.

Breaking down the performance of each segment, sports betting revenue hiked 1,892.3% year-on-year to $51.8m, with sports leagues and events now running as normal. The state’s betting handle also rocketed 1,270.0% to $748.0m, with $681.2m spent online and $66.8m wagered at retail sportsbooks.

Read the full story on iGB North America.

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