New Jersey Gambling Revenue Skyrockets in April

New Jersey Casinos

The casino industry in New Jersey posted its figures for April, revealing the Garden States continues to recover from the pandemic.

According to available information, the US state generated $352.2 million in revenue, representing a staggering 326.4% increase compared to the corresponding month of 2020.

A Slight Decrease from March

Back in April of last year, total market revenue was just under $83 million, although the shutdowns of land-based gambling venues had a significant impact on the monthly numbers.

During the entire month of April last year, all brick and mortar casinos, gaming halls, and sportsbooks were closed. But that’s not all, as the cancellation of almost every sporting event severely limited sports betting options.

When compared to March, revenue slightly dropped by 2% from $359.3 million New Jersey generated during last month.

Sports Betting Jumps through the Roof

Sports betting saw an incredible rise in revenue of 1,892.3% from last year, ending the period with $51.8 million. The fact that sporting events and major leagues are now running as normal was the main factor behind this tremendous growth. At the same time, the handle from sports betting went up by 1,270% to $748 million. $681.2 of that sum was wagered online, while the rest was spent at retail sportsbooks across the state.

FanDuel and PointsBet at Meadowlands continued to dominate the state’s sports betting market, generating $29.1 million in revenue in April. Far behind in the second place are Resorts Digital and DraftKings with $12 million in revenue, while the Borgata and BetMGM ended the month with $6.8 million.

Online Gaming Also Improved

When it comes to online gaming, the vertical managed to finish April with a revenue of $107.7 million, improving the last year’s performance by 34.8%. Slots and table games accounted for 97.8% of that sum, or $105.3 million, while the remaining $2.4 million was attributed to peer-to-peer poker.

The Borgata was the leader of this market segment, ending the month with $32.8 million in revenue. The online gaming division of the Golden Nugget casino, Golden Nugget Online Gaming, closely followed with $32.4 million, way ahead of Resorts Digital on $19.6 million.

Land-Based Casinos Dominated

Revenue from land-based casinos amounted to $189.6 million, representing the primary source of income for the state’s industry during April. Back in the same month of 2020, they didn’t generate any revenue as all brick-and-mortar gambling venues in New Jersey were closed.

Slots accounted for nearly 73% of the sum, generating $138 million in revenue in April, while the remaining $51.6 million was attributed to table games.

Since the beginning of this year, the state of New Jersey generated revenue of $1.35 billion, which is an improvement of 61.4% when compared to the same four-month period of last year.

For the year-to-date, sports betting improved by 182.7% to $244.2 million, online gaming generated 66.4% more revenue to $419 million. In comparison, revenue from land-based casinos reached $682.7 million, 37.7% more than in the corresponding period of 2020.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top