New Jersey was proud to report a rise in gambling revenue in May. According to available information, the Garden State generated $374.2 million, representing a 290.4% improvement compared to the same month of 2020.
At the same time, the monthly total went up by 6.4% from the previous month.
The Industry is Slowly Recovering
However, we should bear in mind that performance in May 2020 was significantly impacted by the restrictions imposed in New Jersey due to the pandemic. That’s why the overall gambling revenue was $100,000 short of $96 million.
All land-based gambling venues were closed during the entire May, while the cancellation and postponement of nearly every major sporting event took its toll on sports betting options.
The good news for the gambling industry in New Jersey is that the market continues to bounce back. This can also be seen from the month-on-month improvement in revenue from the performance in April when gambling revenue reached $352.2 million.
Wagering on sports has also seen a staggering annual improvement, with its revenue jumping by 434.3% to $52.9 million. When it comes to the amount wagered by bettors in New Jersey, it skyrocketed by 591.3% to $814.3 million. During May, $743.7 million was wagered online, with $79.6 million spent on betting at retail sportsbooks across the state.
FanDuel and PointsBet continue to dominate Garden State’s sports betting market, generating $34.6 million in gambling revenue. Resorts Digital and DraftKings were far behind with $9.5 million, while Borgata ended the month with a total of $3.8 million.
Online Gambling Also Increases
Online gaming also recorded a rise in revenue. The vertical generated $108.2 million, which is an improvement of 25.9% compared to May last year. Online slots and table games continue to lead the way, going up by 29.9% year-on-year, while peer-to-peer poker revenue dropped by 46.7% to $2.4 million.
Borgata ended the month with $32.8 million in revenue, closely followed by Golden Nugget Online Gaming. The online gambling division of the famous Golden Nugget casino generated $31.1 million in revenue. Resorts Digital came third with $21.6 million.
Land-based casino win in May reached $213.1 million. Since all casinos didn’t work during May last year, it wasn’t possible to make annual comparisons. But when compared to $189.6 million from April, the monthly figure went up by 12.4%
Slots recorded $157.8 million in revenue during May, while revenue from table games was $55.4 million.
In the first five months of this year, total gambling revenue in New Jersey amounted to $1.72 billion. That represents a solid 85% improvement from the same period of last year.
Revenue from sports betting went up by 208.5% to $297.1 million. At the same time, online gambling improved by 56.1% to $527.2 million. Lastly, land-based casinos saw their revenue go up by 80.8% to $895.9 million.