New Jersey gambling revenue grew by 4.4% in August compared to last year, thanks to a record-breaking month for the state's online gaming market.
New Jersey's total gambling revenue for August hit $555.1m, up from $531.6m last year and 1.3% higher than July’s $547.8m.
The highlight was online gaming, which set a new state record with $198.4m in revenue, up 27.8% year-on-year. This includes $196.0m from internet slots, a 28.2% increase, while peer-to-peer games stayed steady at $2.4m.
Golden Nugget led the market, with its partners like FanDuel, Betway, and BetRivers generating $55.0m. DraftKings, however, was the top operator, reporting $43.2m in revenue, followed by FanDuel with $41.3m. Fanatics also had its best month, earning $2.6m.
Not so good news for sports betting
In August, sports betting was the only sector in New Jersey to see a drop in revenue, reaching $62.7m, down 34.7% from the previous year.
Players bet a total of $698.8m on sports, a 3.7% decrease compared to last year. Of that, $666.3m was wagered online and $32.5m at retail sportsbooks.
The overall market hold for August was 9.0%, lower than July's 12.3%.
Meadowlands Racetrack, partnered with FanDuel, led the market with $25.0m in revenue. FanDuel was the top operator with $24.2m, followed by DraftKings with $15.5m, and BetMGM with $4.5m.
What happened elsewhere in New Jersey?
Land-based casinos continue to be the biggest source of gambling income in New Jersey, bringing in $294.0m in August, a 4.9% increase from last year.
Revenue from slot machines rose by 5.3% to $221.6m, while table games saw a 3.8% rise to $72.4m.
Borgata remains the top casino in the state, earning $74.2m in August, followed by Hard Rock with $55.4m for the month.
New Jersey on track for record year
For the first eight months of the year, New Jersey's total gambling revenue reached $4.16bn, up 10.5% compared to last year.
Online gaming revenue grew by 22.7%, reaching $1.52bn, thanks to a 23.2% increase in slot machine earnings. However, poker revenue dropped by 3.5%.
Sports betting revenue rose by 19.7% to $715.8m, despite a dip in August. Meanwhile, land-based casino revenue saw a slight drop of 0.2% to $1.92bn, with declines in both slot machines and table games.
