New 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.