New Jersey gambling revenue up in February despite land-based decline

Revenue for February amounted to $461.5m (£362.4m/€423.8m). This was 12.0% ahead of $412.2m in New Jersey last year but 17.5% behind January’s $559.1m total.

Land-based gambling was again the primary source of revenue for New Jersey in February. However, the $211.6m posted was 1.6% behind $215.0m in 2023 and also represented the second consecutive month of decline.

Some $158.9m of all land-based revenue came from slot machines, marginally lower than $159.3m in the previous year. Table games win also slipped 5.3% to $52.7m.

Another month of igaming growth in New Jersey

In contrast to the land-based decline was significant growth within the igaming sector. Here, revenue was 27.9% higher at $182.3m. This was also only just shy of the record $183.3m reported in January.

Slots accounted for $180.0m of all online gaming revenue, a rise of 28.3%. The other $2.3m came from peer-to-peer poker, an increase of 0.4%.

Golden Nugget held its position as the igaming market leader with $51.5m in revenue. Not far behind in second was Resorts Digital on $48.0m, then Borgata with $40.0m.

Sports betting revenue tops $67.6m

Turning to sports wagering and revenue here also increased 23.7% year-on-year to $67.6m. However, this was some way short of the record $170.8m in January despite February featuring the NFL’s end-of-season Super Bowl showpiece.

In terms of handle, New Jersey players wagered a total of $1.08bn in February, up 27.6% on last year. Some $1.04bn was bet online, in addition tp $37.9m at retail sportsbooks across the state.

Meadowlands again claimed top spot in the sports betting market with $35.1m in revenue. The racecourse is partnered with FanDuel, PointsBet and SuperBook for sports wagering.

Elsewhere, DraftKings and Resorts World ranked second in this segment with revenue of $24.2m. Borgata and BetMGM followed in third with $4.5m in monthly revenue.

Year-to-date revenue in New Jersey already past $1.00bn

Looking to the state’s year-to-date performance, revenue for the opening two months hit $1.02bn. This was 20.2% ahead of $849.1m at the same point in 2023.

Land-based revenue was 2.4% lower at $416.3m, but growth elsewhere puts New Jersey on track for what could be a record year.

Online gambling revenue was 23.7% higher at $365.6m, while sports betting revenue hiked 87.7% to $238.3m. 

At this rate, New Jersey could be set for a record year across igaming and sports betting, as well as total market revenue. 

Rebuck exits New Jersey regulator

The monthly figures come after it was confirmed at the end of February that David Rebuck was stepping down as director of the New Jersey Division of Gaming Enforcement (DGE).

Rebuck led the New Jersey regulator for 13 years, the longest-serving director in its history. In total, he served the Garden State for more than 36 years.

Deputy director Mary Jo Flaherty has assumed the role of interim director. Flaherty joined the DGE as deputy attorney general in January 1988, providing legal advice and legislation.

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