NEW JERSEY GAMING MARKET RECOVERS IN JULY AS IGAMING CONTINUES TO SOAR
New Jersey’s regulated betting and gaming market generated total gaming revenue of $264.5m in July, buoyed by another strong performance from iGaming and improved results from sports betting and land-based gaming.
Total revenue fell by 21 per cent compared to the same period last year as Atlantic City casinos, retail sportsbooks and racetracks began re-opening at the start of the month following their mandated closure due to COVID-19.
NEW JERSEY GAMING REVENUE COMPARISON: JULY 2020 (US$)
|July 2020||July 2019||% Change|
|– Online Poker||4.8m||1.9m||155%|
|– Online Casino||82.7m||37.4m||121%|
Revenue from iGaming soared 122.5 per cent year-on-year to $87.5m in July, comprising a 155 per cent increase in online poker revenue to $4.8m and a 121 per cent rise in online casino revenue to $82.7m.
Golden Nugget continued to lead the iGaming market as it grew revenue by 111 per cent to $31.5m for the month, although the biggest growth came from Ocean Casino, where revenue soared 217 per cent to $1.2m.
iGaming revenue at Resorts Digital rose 162.5 per cent to $18.0m, while Borgata revenue grew 140 per cent to $15.3m and Caesars Interactive revenue climbed 90 per cent to $9.7m. Tropicana revenue increased by 62 per cent to $6.2m, while revenue from Hard Rock increased by 195 per cent year-on-year to $5.6m.
Total sports betting wagers amounted to $315.1m in July, with online generating $295.8m of the total and retail just $19.3m. As a result, sports betting revenue increased by 65 per cent to $29.6m, with racetrack Meadowlands generating nearly half of the total as revenue rose 55 per cent to $14.1m.
The next biggest sports betting operator was Resorts Digital, which saw revenue climb 119 per cent to $8.2m, while Borgata revenue soared 245 per cent to $3.0m. Monmouth Park generated $1.7m in sports betting revenue, with Hard Rock at $856,358. The remaining five operators generated combined sports betting revenue of $357,825 during the month.
Land-based casino revenue fell by 47 per cent year-on-year to $147.4m, with Ocean Casino the only operator to record growth, up 23 per cent to $23.6m.
For the first eight months of 2020, total gaming revenue decreased by 33 per cent to $1.29bn. iGaming revenue increased by 99 per cent to $510.2m, with sports betting revenue up 9 per cent at $138.5m and land-based casino revenue down 58 per cent at $643.2m.
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