New Jersey Online Casino Revenue

The New Jersey Department of Gaming Enforcementreleased the May 2019 revenue numbers for the state’s gambling industry earlier this week. They told a prevalent story, namely that some operators are flourishing, but others are struggling to even stay above water.

The New Jersey Division of Gaming Enforcement released its September report last week, and online casino numbers continue to impress. The state saw the online casino industry generate $87.6 million in revenue for the month. The September 2020 revenue numbers doubled what the state saw in September 2019, thanks to COVID-19. NJ online gambling sites won a combined $80 million in April, up substantially from a record of $65 million in March. Ignoring the shortened February, operators in the state have reached new high-water marks every month since June 2019. With land-based casinos shuttered and sports on hiatus, New Jersey’s online poker and online casino industry posted some rather impressive but not unexpected numbers in April. Based on the latest revenue report from the New Jersey Division of Gaming Enforcement, New Jersey Online casinos had their best month to date in April, taking in nearly $75 million.

FanDuel flies high for New Jersey revenue

Concerning sportsbooks in New Jersey, there is one clear winner. The FanDuel Sportsbook at Meadowlands led both online and retail sports betting by a wide margin.

In fact, FanDuel’s haul of nearly $7.9 million for the month accounted for roughly half the total revenue on sports betting, retail and online combined. Its roughly $800,000 in revenue for retail eclipsed its nearest competitor by more than a quarter of a million dollars.

FanDuel (and Meadowlands) unmistakably benefits from its location in the extreme northern portion of New Jersey. The track is a short drive across the bridge from New York City and, no doubt, it derives much of its customer base from the Big Apple.

One thing to watch is how New Yorkers respond to the newly active sports betting in their state. About a week ago, lawmakers completed their rules for wagering on sports at the state’s four commercial casinos.

For right now, FanDuel should remain on top, since New York‘s rules do not provide for online play. However, it is not hard to forecast that the book has a test of customer loyalty looming in its future.

Other key New Jersey sports betting revenue notes

The other company that tasted notable success last month was FanDuel’s rival, DraftKings (and its partner, Resorts AC). The former market leader still managed to hold $4.1 million in online sport betting revenues during the month.

Unfortunately, part of that performance will have to compensate for a net loss on the retail side of the business.

Worse, the retail portion of Resorts’ sports betting operation was not the only facility to experience losses for the month.

Ocean Resort Casino also finished in the red, with losses exceeding $21,000.

Thankfully, Ocean Resort’s online business had a very respectable May. So, overall, the casino’s sportsbook is still making cash for the property.

Still, one clear outcome is that online sports betting continues to expand its grip on the market. In New Jersey, 82.6% of the total dollars wagered on sports are wagered online.

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