In April, revenue at New Jersey’s online casinos and poker rooms increased year over year, but fell short of the previous month’s high.
The Garden State’s digital gaming ecosystem brought in $107.7 million in the last 30 days, up 34.8 percent from $80 million in April 2020 but down from the $113.7 million reported in March. The total gaming revenue for the month was $352.2 million (2020: $82.5 million).
Borgata, which also owns the BetMGM brand, topped the list with $32.8 million in online casino and poker revenue in April, more than double the $15.9 million posted in May.
Golden Nugget Online Gaming came in second with $32.4 million, up 17.3 percent from $27.6 million, and Resorts Digital came in third with $19.6 million, up 21.7 percent from $16.1 million.
On a land-based basis, Borgata holds the lead with $38.5 million, followed by Hard Rock with $35.2 million and Ocean Casino Resort with $22.1 million. Due to 2020 shutdown mandates to fight the spread of COVID-19, there is no year-to-year comparison.
Battle for market supremacy
Eric Ramsey, analyst for PlayNJ.com said: “The battle for market supremacy was something that would have been hard to predict before the pandemic, but 2020 has really shaken up the way people interact with casino games, perhaps forever.
“With restrictions in Atlantic City going away, though, this could mark the ceiling of the online market. But a more reasonable expectation is a moderation of the exponential growth that began in spring 2020, rather than an end to it.”
In April, New Jersey’s sportsbooks took in $748 million in wagers, down 13 percent from $859.6 million in March but up 1,270.1 percent from $54.6 million in bets taken in pandemic-plagued April 2020.
Operator sales fell 9.9 percent to $54.8 million in April from $60.8 million in March, the first month of a seasonal fall that analysts predict would last until August. The action in April produced $8.1 million in state taxes.
New Jersey sportsbooks have provided $15.2 billion in handle, $1.04 billion in sales, and $151.4 million in state taxes since their inception.
“Untouchable as the nation’s largest market”
“Considering the challenges, particularly in 2020, $15bn in wagering and $1bn in revenue are incredible yard sticks that really drive home just how successful the New Jersey market has been,” added Ramsey.
“At least until New York launches its sports betting industry, New Jersey seems untouchable as the nation’s largest market.”
April’s handle was 91.1 percent, or $681.2 million, with FanDuel Sportsbook/PointsBet leading the market with $25.5 million in gross sales.
Retailers took in $66.8 million in wagering, down from $79.5 million in March, with Meadowlands/FanDuel coming out on top with $3.6 million in sales.