NJ September iGaming Revenue Reaches New Milestone
Revenue from New Jersey’s online gambling sector has reached new heights for the second month in a row.
iGaming saw a 27.1% year-on-year increase in its revenue to $208.1 million.
LISTEN TO THIS ARTICLE:According to the latest figures released by the New Jersey Division of Gaming Enforcement, the state's total gambling revenue for September amounted to $558.3m, a 7.1% year-on-year increase and a 0.6% rise from the previous month.
iGaming continued its upward trajectory in the month, with a 27.1% year-on-year revenue increase to $208.1 million. The total exceeded the previous record of $198.4 million set in August. From the total, revenue from online slots and table games surged 27.6% to $205.9 million, while online poker dropped 6.9% to $2.2 million.
DraftKings led New Jersey's iGaming market in September with $45.8 million in revenue, narrowly edging FanDuel's $45.3 million. BetMGM followed with $26 million.
Resorts Casino Hotel remained the leading master licensee in the state, with $52.9 million in revenue. This success is largely attributed to its skin partners, including DraftKings, ESPNBet, and PokerStars.
Sports Betting Revenue Reaches $119.6 Million
Regarding sports betting, the state recorded a handle of $1.09 billion, a decrease of 16.2% year-on-year. However, the total increased by 56% compared to August’s figure. Mobile betting accounted for $1.03 billion of the total bet amount, while retail betting contributed $58.5 million.
Total sports betting revenue reached $119.6 million in the month, representing a 7.6% year-on-year increase and a 91% rise above August’s $62.7 million. The month-on-month jump aligns with seasonal expectations, as September marks the commencement of the NFL season.
During the month, FanDuel, in partnership with Meadowlands Racetrack, secured the top position with $48.6 million in revenue and a 14.12% hold rate.
DraftKings, partner of Resorts Casino Hotel, was in second place with $36.6 million in revenue and a 16.99% hold rate. BetMGM, which collaborates with Borgata, followed in third, accounting for $7.8 million in total revenue and a 16.28% hold.
Meadowlands Racetrack maintained its top spot among master licensees in the Garden State’s sports wagering market, with $52.8 million in revenue.
Land-Based Casino Market Declines
While the iGaming market thrived, New Jersey’s land-based casino sector experienced a challenging September. Total revenue declined 6.5% year-over-year to $230.6 million, and 21.6% compared to August’s figures.
Physical slots revenue slipped 5.2% year-on-year to $173.3 million, while table games revenue plummeted 10.1% to $57.3 million.
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Year-to-Date Breakdown
New Jersey’s total gambling revenue for the nine months ending September amounted to $4.72 billion, a 10.1% increase from the same period in 2023.
During the period, online gambling revenue amounted to $1.73 billion, up 23.2%; sports betting revenue soared by 17.8% to $835.4 million, while land-based casinos decreased by 0.9% to $2.15 billion.
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