New Jersey Gambling Revenue Sees Growth in April

In April, New Jersey’s total gambling revenue reached $536.6 million, marking a 5% increase compared to the same month last year. This figure, however, reflects a slight decline of 1.7% from March.

Breakdown of Revenue Sources

The revenue generated in April can be categorized into three main segments:

• iGaming: $235.2 million
• Land-based Casinos: $211 million
• Sports Betting: $90.5 million

This distribution highlights the increasing dominance of online gaming platforms, which have outpaced traditional casino operations.

iGaming: The Driving Force

The iGaming sector in April  generated $235.2 million, showing a 25.2% increase from the previous year.

The revenue from iGaming can be further dissected into specific categories:

• Other Authorized Games: $232.8 million (up 25.4%)
• Online Poker: $2.4 million (up 3.2%)

Contrasting the growth in iGaming, the sports betting sector experienced a downturn in April. Revenue from sports betting fell by 14.8%, totalling $90.5 million.

Online vs. Retail Sports Betting

The breakdown of sports betting revenue reveals a significant disparity between online and retail channels:

• Online Sports Betting: $87.9 million (down 15.7%)
• Retail Sports Betting: $2.6 million (up 34.1%)

While online betting saw a decline, retail sports betting experienced a rise.

The total handle for sports betting in April was $994.4 million, which is 1.5% lower than the previous year and 10.4% lower than March. The online betting wagers accounted for $954.1 million, while retail spending reached $40.4 million. The state hold for the month stood at 9.1%.

The land-based casino segment in New Jersey has faced challenges, with revenue declining by 2.7% to $211 million in April.