In a recent report, it was revealed that gambling revenue in New Jersey saw a significant increase of 4.4% year-on-year in the month of August. This boost was largely attributed to the record-breaking performance of the state’s igaming market, which helped drive the total revenue for the month to $555.1m. This is a notable increase from the $531.6m reported in August of the previous year and represents a 1.3% growth from July’s revenue of $547.8m.
The standout figure for New Jersey in August was the impressive growth in igaming revenue, which surged by 27.8% year-on-year to reach $198.4m – marking a new monthly record for the state. Within this category, internet slots revenue accounted for $196.0m, showing an increase of 28.2%, while online peer-to-peer stayed stable at $2.4m for the month.
Golden Nugget continued to dominate the igaming market as the leading master licensee, with skins operating under its license – including FanDuel, Betway, and BetRivers – generating $55.0m in revenue. However, DraftKings maintained its position as the top-performing igaming operator for the month, bringing in $43.2m in online casino revenue, ahead of FanDuel with $41.3m. Another noteworthy brand was Fanatics, which achieved a record high of $2.6m in revenue.
On the other hand, the sports betting sector was the only area of the market to experience a decline in revenue in August. Total revenue in this category amounted to $62.7m, which was 34.7% lower than the previous year. Player spending on sports betting reached $698.8m, showing a decrease of 3.7% from the previous year, with $666.3m being bet online and $32.5m at retail sportsbooks across the state. The total market hold for the month was 9.0%, a notable drop from July’s 12.3%.
Meadowlands emerged as the leader among master licensees in the sports betting market, raking in $25.0m in revenue in partnership with FanDuel. When it comes to individual operators, FanDuel maintained its lead with $24.2m in revenue for August, followed by DraftKings with $15.5m, and BetMGM in a distant third with $4.5m.
Despite the strong performance of the igaming and sports betting sectors, land-based casinos continue to be the main source of gambling revenue in New Jersey. In August, these establishments generated $294.0m, a 4.9% increase from the previous year. Slot machine revenue experienced a 5.3% climb to $221.6m, while table games revenue increased by 3.8% to reach $72.4m. Overall, the gambling industry in New Jersey is showing positive growth across various sectors, setting the stage for continued success in the months to come.
