New Jersey Gambling Revenue Hits a New High This September
NJ’s latest revenue figures speak a lot
It may come as a surprise to many in the United States, but New Jersey is perhaps leading the country’s gambling industry over the past few months. The state is setting an illuminating example for other states in the country by conducting world-class sports betting, poker and online casino experience Onand achieving unbeatable revenue figures.
On October 12, the New Jersey Division of Gaming Enforcement (DGE) released its gross revenue statement for September, a month that marks the industry’s bloom with figures that reach new heights. Let’s highlight a few facts across the industry’s various verticals here:
- Since its inception on June 14, 2018, sports betting in New Jersey has been doing remarkably well, adding about $40.4 million to the state’s treasury. The revenue for September was $12,567,785.
- Online table games and slot machines churned a revenue of $24,142,472, which surpassed the figures of all other months. The revenue from this vertical exceeded twenty million dollars for the 9th consecutive month.
- Online poker generated a revenue of $1,609,989.
- The total revenue from online gambling amounted to $25,752,46, with wagering sports generating $38,320,246. It was just a little shy of the revenue mark of $25.89 million, which the industry collected in July.
What’s driving the state’s gaming industry?
These all-time high revenue figures of New Jersey’s gaming industry are driven by the tremendous growth in sports wagering and persistent advancements taking place in physical and online casinos.
The September figures are crucial because these reflect the first full month in online sportsbooks, which is DraftKings in this context. DraftKings was the first internet-based sportsbook in New Jersey, assuming a leading position in the gambling scenario.
Golden Nugget recorded revenues more than eight million dollars for the seventh consecutive period, achieving a figure of $9,284,127 for September. Competing gaming operators attained a milestone of five million dollars, but all of them evidently felt shy of this record. WSOP / 888 Poker made a revenue of $671,315, which is the maximum revenue that an online poker operator has achieved in September.
For some operators, the future is fraught with uncertainties as their September numbers were down. Most of them are still struggling to acquire new customers and improve their games. In all, New Jersey’s gaming industry is trending up, and the future looks promising enough for the state. We can only hope to see bigger numbers in the coming months.
