New Jersey reports double-digit growth in igaming and sportsbook revenue during July
Latest DGE data shows 5% spike in total gaming revenue which hit $506.1m over the month
New Jersey’s sports betting operators saw revenue growth of 35.6% year on year (YOY) in July, reporting gross gambling revenue (GGR) of $61m, according to latest data from the state’s Division of Gaming Enforcement (DGE).
Total gambling revenue, inclusive of all forms of gambling at both casino and racetrack operators, grew by 5.3% YOY from $480.6m in July 2022 to $506.1m in the same period of 2023.
Statewide, internet gaming revenue rose by 13.5% YOY to $155.1m in July, with land-based casino gambling revenue slumping 3% to $289.9m over the same period.
In respect of July’s sports betting numbers, Bally’s, Harrah’s, Resorts Digital, Hard Rock, and the Ocean Casino all reported triple-digit YOY percentage increases in their respective revenue over the month.
Resorts Digital was the biggest revenue generator of New Jersey sportsbooks during July, generating $18.9m over the month, triple that of the next biggest sportsbook operator, Borgata, which could only manage $6.1m in revenue in the same period.
In contrast, Resorts and Caesars reported double-digit percentage YOY declines in their sports betting revenue in July. In respect of racetrack licensees, the Freehold Raceway reported a 140% YOY upsurge in its revenue over July to $1.6m.
Bally’s was also a big winner in New Jersey igaming during July, notching up 70.2% YOY revenue growth to $6.8m, with Ocean Casino resort reporting a 57% increase in its own igaming revenue over the month to $4.3m.
Resorts Digital came in third in the YOY revenue growth stakes in igaming during July, reporting a 33% increase in its revenue to $40.5m, just ahead of Golden Nugget, which saw revenue growth of just over 15% YOY to $39.7m in the same period.
Caesars Interactive New Jersey was the only igaming operator to report a YOY revenue decline during July, with the operator’s revenue slumping 21% YOY to $8.5m.