New Jersey Gaming Revenue Soars in June, Fueled by iGaming and Sports Betting

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    New Jersey’s gaming industry experienced a significant surge in June, with total revenue climbing to $581.6 million, an 18.4% increase year-over-year. This growth was primarily fueled by robust performances in internet gaming and sports betting, alongside a steady contribution from land-based casinos, highlighting the state’s dynamic and evolving gambling landscape.

    New Jersey Gaming Revenue Soars in June, Driven by Digital Growth

    New Jersey’s gaming revenue reached $581.6 million in June, marking an impressive 18.4% year-over-year increase. While this figure was slightly down from May’s record-setting performance, it underscores a strong second quarter for the state’s gambling sector. All three key verticals—land-based casinos, internet gaming, and sports wagering—contributed to this annual growth.

    Casino Win and iGaming Performance

    Atlantic City’s nine casino hotels reported a combined win of $259 million, a 6.1% increase compared to June of the previous year. This growth was largely propelled by table games, which saw a 26.9% rise to $76.2 million, despite a slight dip in slot revenue. Notably, Borgata led with $76.7 million in revenue, while Ocean Casino Resort experienced the most significant gain, up 30.1% to $43.5 million.

    Internet gaming continued its upward trajectory, surging to $230.7 million, a 23.5% year-on-year jump. Year-to-date, online gaming win stands at $1.39 billion, representing a 22.7% increase from the same period last year. FanDuel maintained its dominance in the online casino market, generating $53.3 million, a 48.2% increase.

    Sports Betting Sees Explosive Growth

    Sports wagering revenue soared to $91.9 million in June, a remarkable 52.9% increase from the previous year. Online bets accounted for the vast majority of this total, reaching $91.2 million. The month’s betting handle was $790.4 million, with $755 million placed online. FanDuel also led the sports betting market with $35.8 million in revenue, followed by DraftKings at $24.3 million.

    Key Takeaways

    • Total gaming revenue in New Jersey for June reached $581.6 million, an 18.4% increase year-over-year.
    • Internet gaming revenue surged by 23.5% to $230.7 million.
    • Sports betting revenue saw a significant 52.9% increase, totaling $91.9 million.
    • Land-based casino win increased by 6.1% to $259 million, with table games being a primary driver.
    • Year-to-date gaming revenue stands at $3.32 billion, up 8.5% compared to the prior year.

    Regulatory Developments

    In a recent development, New Jersey Governor Phil Murphy signed a bill into law prohibiting sportsbook operators from partnering with public universities within the state. Senate Bill 2155 aims to prevent gambling brands from advertising on campus or within athletic facilities, extending to digital and broadcast sports content, and athletic departments.

    Future Outlook

    The New Jersey gaming industry remains optimistic about continued growth, particularly with the upcoming NFL season and potential new product launches. Strategic marketing efforts, significant capital improvements, and consistent digital performance are expected to maintain Atlantic City’s gaming industry on a positive growth trajectory, reinforcing its role as a powerful economic engine and contributor to state programs.

    Sources