Gambling
New Jersey: Sports betting and igaming growth offset land-based decline in July
Year-on-year growth across sports wagering and igaming in New Jersey offset a 6.1% decline in revenue from the Garden State’s land-based market during July.
Total market revenue in July amounted to $547.8m (£423.4m/€496.7m) according to New Jersey Division of Gaming Enforcement figures. This is 8.2% more than $506.2m in New Jersey last year and also 11.6% more than June this year.
Despite the year-on-year decline, land-based gambling remains the main source of revenue. In July, land-based revenue topped $272.3m, down from $290.0m last year. Of this, $207.3m came from slots, a drop of 4.8%, while table games revenue also fell 10.0% to $65.0m.
How far is igaming from overtaking land-based in New Jersey?
The decline in land-based revenue begs the question: could it be surpassed by igaming? For July, igaming revenue hit $195.4m, a 25.9% increase from the same month last year.
Of all igaming revenue, $192.8m was attributed to slots and table games, an increase of 26.4%. The remaining $2.6m came from peer-to-peer poker, down 2.4%.
New Jersey icasino gross revenue by skin
| Master licensee | iCasino skin | Gross revenue |
| Bally’s AC | BallyCasino | $5,707,197 |
| Bally’s AC | VirginCasino | $1,628,199 |
| Bally’s AC | Fanatics | $2,452,037 |
| Borgata | Borgata | $18,774,803 |
| Borgata | BetMGM | $25,262,988 |
| Borgata | PartyPoker | $1,369,322 |
| Borgata | Pala/Stardust | $938,633 |
| Borgata | Wheel of Fortune | $704,883 |
| Golden Nugget | Golden Nugget Online Gaming | $8,679,224 |
| Golden Nugget | FanDuel | $37,761,067 |
| Golden Nugget | BetRivers | $6,528,522 |
| Golden Nugget | Betway | $157,848 |
| Golden Nugget | Jackpot City | $417,876 |
| Hard Rock | Hard Rock Bet | $10,353,857 |
| Hard Rock | Bet365 | $1,669,923 |
| Harrah’s AC | Jackpocket | $970,669 |
| Ocean Casino Resort | Ocean | $1,553,782 |
| Ocean Casino Resort | Parx | $1,271,499 |
| Ocean Casino Resort | Tipico | $3,054 |
| Ocean Casino Resort | Playstar | $2,490,233 |
| Resorts | Resorts Casino | $1,941,427 |
| Resorts | Mohegan Sun | $1,199,012 |
| Resorts | PokerStars | $1,379,929 |
| Resorts | DraftKings | $41,668,119 |
| Resorts | ESPN Bet | $2,780,711 |
| Tropicana | Caesars Palace | $12,185,659 |
| Tropicana | Tropicana Casino | $2,674,231 |
| Tropicana | Harrah’s Casino | $1,224,618 |
| Tropicana | WSOP | $1,646,525 |
While the skins operating under Golden Nugget’s collectively generated the most revenue, New Jersey’s breakdown of revenue by skin shows DraftKings led the market with $41.7m in revenue for the month. FanDuel, one of Golden Nugget’s skins, followed in second on $37.8m.
Sports betting revenue jumps 31.2%
July is traditionally a quieter month for sports betting but New Jersey’s sportsbooks were the fastest growing segment in the market.
Total player spend hit $652.3m, a rise of 11.1%, with $624.3m coming from online and $28.0m retail. A strong 12.3% hold meant operators generated revenue of $80m, up 31.2% year-on-year.
New Jersey sports betting revenue by skin
| Master licensee | Sports betting skin | Gross revenue |
| Bally’s AC | Sporttrade | ($199,293) |
| Bally’s AC | Fanatics | $2,661,170 |
| Borgata | BetMGM | $5,248,028 |
| Borgata | Borgata | $789,471 |
| Golden Nugget | Golden Nugget Online Gaming |
– |
| Golden Nugget | Betway | $75,897 |
| Hard Rock | Hard Rock Bet | $1,152,267 |
| Hard Rock | Bet365 | $3,029,262 |
| Hard Rock | Unibet | – |
| Harrah’s AC | Prophet Exchange | – |
| Harrah’s AC | BetParx | $147,724 |
| Ocean Casino Resort | Tipico | $1,223 |
| Ocean Casino Resort | Prime | $398,061 |
| Resorts | DraftKings | $25,947,164 |
| Tropicana | Caesars Sportsbook | $2,914,938 |
| Freehold Raceway | ESPN Bet | $2,437,139 |
| Freehold Raceway | PlayUp | – |
| Meadowlands | FanDuel | $31,932,815 |
| Meadowlands | PointsBet | – |
| Meadowlands | Superbook | $40,494 |
| Monmouth Park | Caesars Sportsbook | $447,179 |
| Monmouth Park | BetRivers | $928,369 |
With revenue of $31.9m, FanDuel leads the market ahead of DraftKings on $25.9m. BetMGM is best of the rest on $5.2m, with Caesars Sportsbook ($2.9m), Fanatics ($2.7m) and ESPN Bet ($2.4m) its closest challengers.
iGaming biggest tax contributor in New Jersey
New Jersey collected a total of $56.8m in taxes for July. The majority of this – $29.4m – was attributed to igaming activity, which is taxed at 15% on gross revenue.
Internet sports betting, taxed at 13% of gross revenue, generated $10.1m in tax, while retail sports betting, which has a lower tax rate of 8.5%, led to $122,142 in tax.
The remaining $17.1m in monthly tax during July came from the 8=% gross revenue tax on land-based casinos.
The year so far: Land-based down, igaming and sports up
Looking at the state’s year-to-date figures, total revenue for the seven months to the end of July was $3.61bn. This is 11.5% higher than at the same point last year.
Land-based casino win is 1.0% lower at $1.63bn, but still the main source of revenue. Slots revenue slipped 1.1% to $1.21bn and table games 0.8% to $422.8m.
Igaming revenue is 22% ahead of last year at $1.33bn. This includes $1.31bn from other authorised games, up 22.4%, and $16.7m poker, down 4.0%.
Sports betting revenue also increased 30.1% to $653.1m, partly due to a 28.9% increase in handle to $7.41bn.
As for tax, some $388.1m was collected by the state in the seven-month period.
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