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New Jersey gambling revenue jumps 29.5% year-on-year in February

| By Robert Fletcher
Gambling revenue in New Jersey hiked 29.5% year-on-year to $373.3m (£283.5m/€338.4m) in February, despite a 33.2% decline in sports betting revenue.
New Jersey February

Total revenue was comfortably higher than $288.3m in February last year and only 2.2% behind the $281.7m generated in January of this year.

However, sports betting revenue dropped from $46.2m to $30.9m and wagers were up 32.7% year-on-year to $985.6m, this was the first time in five months that the state’s handle fell below $1.0bn. Of this handle total, $143.7m was staked on the NFL’s Super Bowl LVI, an increase of 22.4% on 2021.

A total of $899.6m was wagered online during February, with the remaining $85.9m being staked at retail sportsbooks.

FanDuel and PointsBet, both partnered with the Meadowlands, once again retained top spot in the state’s sports betting market with $13.9m in revenue, ahead of Resorts Digital and DraftKings on $8.6m and BetMGM partner the Borgata with $3.6m.

Turning to igaming, revenue here was up 38.6% year-on-year to $130.0m, though this figure fell short of the record $137.8m set in January this year. Online slots accounted for $127.7m of all igaming revenue, while the remaining $2.2m came from online poker.

The Borgata ranked first in the igaming sector with $37.8m in revenue for February, ahead of Golden Nugget Online Gaming with $34.6m, then Resorts Digital in $29.0m.

Turning to land-based casinos, revenue here increased 43.3% year-on-year to $212.4m, with $153.9m coming from slot machines and $58.5m table games.

For the year to date, total gambling revenue in New Jersey for the two months to the end of February was $755.0m, up 19.0% year-on-year.

Sports betting revenue was 29.2% down at $91.1m, while igaming revenue improved 35.6% to $267.8m and land-based casino revenue 28.5% to $396.1m.

Earlier this month, neighbouring New York, which launched its online sports betting market on 8 January, revealed players spent a total of $1.54bn on internet sports betting in February, while gross gaming revenue from online wagering reached $91.7m.

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