Author: Joe Kizlauskas
Last Updated: 17th August 2021
Through July, New Jersey sportsbooks failed to defy a nationwide trend, while the Garden State’s online casinos and poker rooms were unaffected.
During the month, the region’s igaming ecosystem generated $118.7 million in gross gaming income, up 35.7 percent from $87.5 million in July 2020 and 10.9 percent from $107.1 million month-over-month. This also surpassed the previous high of $113.7 million set in March.
In July, online casino games alone produced $115.6 million, bringing total revenue to $3 billion since online gambling began in November 2013.
Online casino games and poker have produced $752.9 million in revenue through the first seven months of 2021, up 47.6 percent from $510.2 million a year ago.
Top of the tree
Borgata, which incorporates the BetMGM brand, remained at the top of the tree with revenue of $36.4 million (2020: $15.2 million), beating out Golden Nugget Online Gaming’s $33.5 million (2020: $31.4 million) and Resorts Digital’s $23.3 million (2020: $18 million).
Borgata won $63.8 million (2020: $8.3 million) on a land-based basis, ahead of Hard Rock and Ocean Casino, which earned $47.7 million (2020: $24.5 million) and $30.3 million (2020: $23.6 million) respectively.
Eric Ramsey, analyst for PlayUSA said: “The bounce back in Atlantic City hasn’t slowed online casinos a bit. Any worry that the return of casino visitation would come at the expense of online revenue should be alleviated now.”
Sportsbooks maintain US trend
Despite the NBA Finals and the Olympics, despite the region’s gaming outlets hitting a new record for total gaming revenue in a month with $450.6 million, New Jersey sportsbooks maintained a US trend during a generally quiet month.
In July, online and retail sportsbooks accepted $578.7 million in wagers, down 24.5 percent from $766.9 million in June. This was also an increase of 83.7 percent from $315.1 million in July 2020, when baseball relaunched and the NBA boom burst.
The amount wagered in July was significantly lower than the $743 million wagered in February, the previous low point of the year. That was the case in 2019, when July’s $251.4 million total was the lowest monthly total of the year.
In July, online operators took in $529.4 million in wagers, accounting for 91.5 percent of total handling in the state. With $29.5 million in total revenue, FanDuel Sportsbook/PointsBet was once again the top online operator, down from $38.1 million in May.
Retail sportsbooks in New Jersey took in $49.3 million in wagers, down from $83.9 million in June. With $2.2 million in revenue, Meadowlands/FanDuel topped all retail sportsbooks.
“Casual sports bettors engage with sportsbooks less frequently in the heart of the summer,” added David Danzis, PlayNJ’s lead analyst.
“But the good news for sportsbooks is that sports betting will soon start to gain momentum as casual bettors return home from summer vacations and begin to turn their focus to football.”