New Jersey generates $487.1 million in gambling revenue in October, records 13.4% increase in online gaming revenue

New Jersey generates $487.1 million in gambling revenue in October, records 13.4% increase in online gaming revenue
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The gambling revenue in New Jersey increased 9.3% year-on-year in October, according to the latest figures released by the New Jersey Division of Gaming Enforcement. The growth was attributed to the state's online gaming and sports betting market. The state generated a total market revenue of $487.1 million, ahead of last year’s $445.7 million, but behind September’s $521.5 million, this year. Physical slots recorded a year-on-year decline of 1.9% and generated $163 million in October. 

Land-based table games generated a revenue of $65.1 million, 19.7% higher year-on-year. This meant that the total revenue from the retail casino sector increased 3.4% to $228.1 million.

New Jersey generates $166.6 million from online gaming

New Jersey recorded a revenue of $164.4 million from online games and slots, an increase of 13.4% in October. The online peer-to-peer poker games revenue rose by 6.2% to $2.4 million. The overall revenue from online gaming during the month reached $166.8 million, up 13.3% from last year.

Golden Nugget generated $49.4 million from online games in October, claiming the top spot in the New Jersey online gaming segment. Right behind Golden Nugget was Resorts Digital, which generated $46 million, followed by Borgata with $35.6 million in online gaming revenue.

Sports betting revenue in New Jersey up by 18.4% in October

New Jersey generated $92.3 million in revenue from sports betting in October, up by 18.4% year-on-year. The state had generated $77.9 million in October 2022.

The total money spent by players on sports betting was $1.29 billion in October, 21.7% ahead of $1.06 billion as compared to last year. Nearly $1.24 billion of the total money wagered in New Jersey in October was online, with the total contribution from retail at $56.3 million.

Where individual operators are concerned, Meadowlands, along with its partners conquered the top spot in October. Meadowlands’ partners FanDuel, PointsBet, and SuperBook posted $60.2 million in revenue during October.

DraftKings, which was at the top position in August and September, slipped to the second position in October with $15.3 million in revenue. The third place was secured by Borgata and BetMGM with $7.8 million in sports betting revenue.

New Jersey's year-to-date gambling revenue increased by 10.6%

New Jersey’s year-to-date performance, revenue in the 10 months to the end of October was $4.77 billion, up by 10.6% at the same point in 2022. Year-to-date land-based casino revenue was up 1.9% to $2.40 billion, with slots 2.4% higher at $1.78 billion and table games 0.4% at $625.0 million.

The online gambling revenue increased 15.1% year-to-date to $1.57 billion in October. While the internet-authorized games revenue was 15.3% higher at $1.55 billion, online poker revenue rose to 6.5% to $24.6 million.

The year-to-date wagering handle in New Jersey totaled to $9.06 million, with the year-to-date sports betting revenue increasing by 34.7% to $801.3 million.