New Jersey sees double-digit percentage growth in sportsbook and igaming during May

New Jersey’s sports betting operators saw revenue growth of 33.4% year-on-year (YOY) in May, reporting gross gambling revenue (GGR) of $82.1m, according to latest data from the state’s Division of Gaming Enforcement (NJDGE).

Total gambling revenue, inclusive of all forms of gambling at both casino and race track operators, grew by 9.4% YOY from $430.6m in May 2022 to $470.9m 12 months later.

Statewide internet gaming revenue rose by a modest 18.7% YOY to $161.4m in May, with land-based casino gambling revenue slumping 2.4% to $227.3m over the same period.

Drilling down into May’s sports betting numbers, triple digit YOY percentage rises in revenue exceeding 200% were reported at the Tropicana, where revenue shot up 243% to $4.1m, and Atlantic City’s Ocean Casino Resort sportsbook where revenue grew 205% to $400,326 in May.

The Hard Rock Hotel & Casino Atlantic City and Resorts New Jersey both saw their May sportsbook revenue grow by triple-digits in May, increasing 171% and 177%, respectively, during the month.

Casino operators had the better of the sportsbook revenue growth during May, with revenue increasing 61% to $34.6m.

Two out of New Jersey’s three race track sportsbook operators reported YOY percentage declines in revenue during May, with only Meadowlands reporting growth of 23.5% in the month.

In respect of igaming, Bally’s was the big winner in May, reporting a 101% YOY increase in its revenue, which grew to $6.7m in the month.

Taking the silver medal position in igaming revenue was Ocean Casino, which reported a 56% uptick in revenue to $3.4m, with Resorts Digital taking bronze spot for the month, reporting a 40% revenue increase to $41.6m.

Caesars Interactive New Jersey was the biggest loser in igaming revenue terms in the Garden State during May, reporting a 14% YOY drop in its revenue, which fell to $8.3m.

New Jersey authorities collected $48.8m in taxes from operators during the month.