Conor Porter is an iGaming and gambling industry journalist covering global casino and sports betting markets. His reporting focuses on industry news, regulation and commercial developments shaping the sector.
Read Full BioNew Jersey gaming continued to see growth in the third month of 2023, with all verticals declaring rises in year-over-year revenue.
According to data from the New Jersey Division of Gaming Enforcement (DGE), Garden State’s operators – casinos, racetracks and their partners – achieved a total gaming revenue in March of $487.4m, a 15 per cent improvement YoY on March 2022’s results of $423.7m.
Year to date, New Jersey gaming revenue currently stands at $1.34bn, a 13.4 per cent uptick YoY (2022: $1.18bn).
Top 3 lead New Jersey igaming pack
A breakdown saw igaming revenues rise by 17.8 per cent YoY in March to $165.7m (2022: $140.7m). YTD, igaming win stood 12.9 per cent higher than the previous year at $461.2m (2022: $408.5m).
The market’s top three were led by Resorts Digital generating $44.9m (2022: $30.8m), followed closely by Borgata with $43.9m (2022: $41.4m) and Golden Nugget with $42.7m (2022: $38.3m). No other operator made more than $8.5m in revenue during the month.
Bally’s saw the biggest YoY increase in terms of revenue, rising by 274.6 per cent to $6.7m (2022: $1.8m), followed by Ocean Casino with a 96 per cent increase to $4.6m (2022: $2.3m), and Resort Digital with a 45.5 per cent improvement.
Only two operators saw their revenue decrease YoY – Tropicana revenue fell by 26.5 per cent to $7.6m (2022: $10.4m) while Caesars Interactive NJ revenue dropped by 15.2 per cent to $8.4m (2022: $9.9m).
Borgata Tops the Broadwalk
New Jersey’s nine casino hotel properties saw their revenue rise by 5.6 per cent YoY in March to $228.6m (2022: $216.6m). YTD, land-based casino revenue stands at $655.3m, a seven per cent increase (2022: $612.7m).
Per vertical, slot machine win rose by 5.1 per cent during the month to $164.7m (2022: $156.7m) while table games win improved by 6.7 per cent to $63.9m (2022: $59.9m).
YTD, slot revenue is up by 8.2 per cent YoY to $475.9m (2022: $439.7m) while table game revenue has grown by 3.7 per cent to $179.4m (2022: $172.9m).
Borgata was the top land-based casino operator in March with $61.5m in revenue (2022: $55m), followed by Hard Rock with $40m (2022: $39.3m) and Ocean Casino with $34.6m (2022: $25.4m), who also saw their revenues increase by the largest amount – 36.1 per cent.
Four operators saw their revenues decrease during the month – Bally’s revenues fell by 21.7 per cent to $10.6m (2022: $13.5m), Caesars revenue dropped by 7.2 per cent to $17.1m (2022: $18.5m), Golden Nugget revenue declined by 2.8 per cent to $12.3m (2022: $12.6m) and Resorts revenue decreased by 2.6 per cent to $12.7m (2022: $13m).
Borgata/BetMGM witness an NJ sportsbook decline
New Jersey sports betting operators saw their revenue improve by 40 per cent YoY in March to $93m (2022: $66.4m). YTD, sports wagering gross revenue increased by 39.7 per cent to $220m (2022: $157.5m).
For the month, sports betting handle came in at $1.03bn with $975.2m from online operations. YTD, sports wagering handle stands at $2.96bn with $2.79bn generated online.
Per operator, Meadowlands/FanDuel/PointsBet was the state’s top sportsbook in terms of revenue with $39.8m, a 7.9 per cent increase (2022: $36.9m).
Next up was Resorts Digital/DraftKings/FoxBet with $29.8m, a 153.6 per cent increase (2022: $11.7m) followed by Borgata/BetMGM with $8.2m, a 23.1 per cent decline (2022: $10.6m), Tropicana/William Hill/Mojo with $5.4m, a 312.8 per cent improvement (2022: $1.3m) and Hard Rock/Unibet/Bet365 with $3m, a 234.9 per cent uptick (2022: $889,689).
No other operator earned more than $1m in March revenue.
For March, New Jersey operators paid $51.3m in taxes to the state, bringing the total amount paid in taxes on the year so far to $139.5m.
