New Jersey Online Casino Records $118.7m in July Revenues

The state of New Jersey marks another record in overall revenues by reaching $118.7m in July. It has also made a considerable year-on-year upturn in gambling revenue for the same month.

According to the official information, the total yield for the gambling market reached $450.6m in July, which is 70.4% up from $264.5m in the identical month last year. This figure is also 14.7% improved from $392.8m in June 2021.

After a significant decrease in the number of pandemic cases, New Jersey has started to relax its restrictions with the opening of casinos and retail sportsbooks. However, some guidelines are still in place, which prevents the state from a full reopening in the gambling scene.

The worldwide pandemic also affected the sports betting industry in July 2020, and some major events were delayed due to the global infection. Despite several delays, this year has an almost regular calendar and Tokyo 2020 Olympic Games have already taken place.

Based on the current data, sports betting revenue climbed 86.0% year-on-year to $55.0m. At the same time, the total amount wagered by customers increased 83.7% to $578.7m. With online betting being the main form of wagering in New Jersey, about $529.4m was wagered online. The expanses of the sportsbook sector, on the other hand, reached $49.3m during June.

When it comes to online casinos, the sector has made a record $118.6m after a 39.8% increase in online slots income to $115.6m. On the contrary, revenue from online poker decreased 36.2% to $3.1m. Borgata was ranked first in the iGaming sector with $36.5m in income for the month, which was better than Golden Nugget Online Gaming with $33.5m and Resorts Digital making $23.3m.

At the same time, land-based casino yield climbed 91.8% year-on-year to $276.9m after relaxing Covid restrictions. Slots revenue rose 83.0% to $204.6m, while land-based gain from table games duplicated from $35.6m to $72.3m.

When speaking about the current year, total market yield in the 7-month period until the end of July stood at $2.56bn, up 98.4% from the figure last year. Sports betting revenue was 205.7% better at $423.3m, iGaming yield rose 47.6% to $752.9m and land-based casino gain increased 115.7% to $1.39bn.

New Jersey and its famed Atlantic City are among the favorite gambling destination in the United States. Since it fully legalized online betting in 2013, it has become a must-visit option for worldwide gamblers. The state was among the first to introduce cyber wagering within the US borders. Its regulatory authority is the New Jersey Division of Gaming Enforcement which oversees all betting activities in the state.

Source: . iGB North America. August 17, 2021.