Total Revenue From NJ Gambling and Sports Betting Slightly Up From May 2020
Published July 26, 2020 by Elana K
Online casinos and poker rooms generated a combined revenue of $84.9 million, about $1 million less than May 2020. Sports betting operators reported revenue of $12.64 million, about $2.75 million more than the previous month.
The New Jersey Division of Gaming Enforcement released the figures from June’s online gambling operations. Online casinos and poker rooms generated a combined revenue of $84.9 million, a 123% year-on-year improvement but approximately $1 million lower than the record set in May 2020.
While no overall gambling record was set in June, the Golden Nugget saw a personal record high of over $29 million. Resorts Digital came in second place with $17.2 million, of which $1.23 million came from online poker. Borgata came in third with $16.9 million, of which $914 thousand came from online poker. Caesars Interactive Entertainment scored fourth place with $8.8 million, with $1.39 million coming from online poker. Tropicana rounded out the top 5 with a bit over $6 million.
New Jersey Sports Betting
New Jersey sports betting didn’t set any records in June either, but the news isn’t altogether bad. Sports betting operators reported revenue of $12.64 million in June, a 30.3% year-on-year increase and approximately $2.75 million more than the previous month. The betting handle totaled $165, up about $47 million from May. Bets were placed entirely online since New Jersey casinos and racetracks have been closed.
The Meadowlands/FanDuel partnership generated the most revenue, with just over $6 million. Resorts Digital/DraftKings came in a far second with $3.9 million. These were the only two operators to surpass 6 figures, though Borgata/BetMGM came in close with $877 thousand.
Total Revenue
With $84.9 million from online casinos and poker rooms and another $12.6 million from sports betting operators, New Jersey gambling revenue totaled $97.5 million in June. The total revenue is higher than the total from May 2020, even though online casinos by themselves didn’t break any records. The overall increase is due to a few more sports betting options which were available in June.
While Atlantic City casinos reopened in July, it’s unclear how that will affect the total revenue from online gambling operations. Will enough people venture out to make a dent or will most gamblers stick with online gambling? The numbers will soon tell all.
