New Jersey sports betting continues to struggle in July

| By Robert Fletcher
Gambling revenue increased 6.7% year-on-year in New Jersey during July despite a further decline in the US state’s sports betting market.
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Total revenue for the month amounted to $480.7m (£397.3m/€472.4m), up 6.7% from $450.6m in July 2021 and 19.7% higher than $401.5m in June of this year.

Land-based casinos remained by some margin the primary source of gambling revenue in New Jersey, generating $299.9m in revenue during the month, up 8.0% year-on-year. Land-based slots revenue increased 5.5% to $215.8m and table games revenue 15.0% to $83.1m.

Online gambling revenue also climbed by 15.2% to $136.7m, mainly due to a 16.3% rise in online slots revenue to $134.4m. However, online peer-to-peer poker revenue slipped 25.9% to $2.3m.

The Borgata retained its grip on top spot in the online gambling sector, posting a total of $43.0m in revenue for the month. Golden Nugget followed with $34.5m, then Resorts Digital on $30.5m.

However, sports betting continued to struggle, with revenue falling 18.1% year-on-year to $45.0m. though this was 14.8% up from $39.2m in June this year. The state’s handle fell 8.1% from $578.7m in July 2021 to $531.9m this year, with online spending at $494.9m and retail $37.0m.

Meadowlands, partnered with FanDuel, was again the runaway leader with $25.2m in sports betting revenue, ahead of Resorts Digital, which has sports betting deals in place with both DraftKings and Flutter’s Fox Bet, on $8.5m. The Borgata was third with $4.4m in revenue.

In terms of year-to-date performance, overall gambling revenue in New Jersey for the seven months to the end of July was $2.91bn, up 13.7% year-on-year.

Land-based casino revenue was 16.0% higher at $1.31bn and igaming revenue increased by 26.3% to $951.2m, though sports betting revenue dropped 16.6% to $353.2m

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