New Jersey Gambling Revenue Rises by 15% to $487.4 Million in March

New Jersey Gambling Revenue in March 2023
New Jersey Gambling Revenue in March 2023

New Jersey’s gambling revenue experienced a significant 15.0% year-on-year increase in March, reaching $487.4 million. The state’s Division of Gaming Enforcement reported growth across nearly all market segments.

March’s revenue comfortably surpassed the $423.7 million generated in March 2022, as well as the $412.2 million produced in February of this year, representing a 2.8% increase.

Land-based slot machines continued to be the main source of revenue for operators in the US state, with a 5.1% increase to $164.8 million. Additionally, retail table games revenue rose 6.7% to $63.9 million. As a result, overall land-based casino revenue climbed 5.6% higher, totaling $228.6 million.

In the online gaming sector, revenue amounted to $165.7 million, a 17.8% year-on-year increase. Internet slot games revenue saw an 18.2% jump to $163.2 million. However, online poker experienced a 1.5% decline in revenue, falling to $2.5 million – the only market segment to see a decrease in March.

Resorts Digital led the way in iGaming with $44.9 million, closely followed by Borgata at $43.9 million, and Golden Nugget with $42.7 million.

Sports betting revenue experienced a substantial 40.1% year-on-year increase, reaching $93.0 million, despite an 8.0% drop in the handle for the month. Online sports wagering accounted for $975.2 million, while $50.6 million was bet at retail sportsbooks in New Jersey.

Meadowlands, which operates under a FanDuel skin, retained its top position in the sports betting market with $39.8 million in total revenue for the month. Resorts Digital and DraftKings followed at $29.8 million, with Borgata and BetMGM at $8.2 million.

In the first three months of the year, total market revenue was 13.4% higher year-on-year, amounting to $1.34 billion. Land-based casino revenue rose 7.0% to $665.3 million, while iGaming revenue increased 12.9% to $461.2 million, and sports betting revenue soared 39.7% to $220.0 million.

For more details about New Jersey’s gambling revenue, read the original report here.