The New Jersey gambling industry has reported its total revenue for October.
The New Jersey Division of Gaming Enforcement (DGE) has revealed total gaming revenue of $445.7 million. It is a 0.7% decrease year-over-year (YoY) compared to October 2021’s $ 448.7 million.
The state’s total gaming revenue currently stands at $4.32 billion, which is a 10.8% increase YoY compared to the $3.89 billion generated last year.
What’s more, New Jersey joins Pennsylvania as the first state to produce $1 billion in annual online gambling gross revenue.
New Jersey gambling sets casino and sports betting records in October
Generating $220.6 million, both casino and sports betting gross revenue saw a 7% decline, compared to the $237.5 million in revenue from October 2021.
However, online gaming grew by almost 16%. The Division of Gaming Enforcement reported an online casino revenue of $147.2 million for October, beating the previous $140.6 million record set in March 2022.
The figure was 8.8% higher than the $135.2 million generated last month and 15.9% higher than the October 2021 total of $127 million.
Sports betting revenue for October was $77.9 million, a 7.4% decrease compared to $84.2m generated in October 2021. Year-to-date sports betting income equals $594.8 million, a 7.3% decrease from last year’s $641.9m.
NJ casino operators hit $1.3 billion in sports bets in October
New Jersey sports betting handle for October stands at $1.06 billion, gaining $987.6 million from online casino operators and $72.55m from retail casino venues.
Online and retail operators set another US record by hitting $1.3 billion in sports bets in October. This number surpassed September’s previous record of $1.01 billion by 28.9%.
In total, New Jersey sportsbook operators won $84.2 million in October, a 43.8% up from last year’s $58.5 million. While producing $12.7 million in state taxes, October’s revenue beat the previous record of $82.6 million set in January 2022.
FanDuel, PointsBet and SuperBook continued to lead the New Jersey online gambling market, generating $39.6 million in gross revenue. The figure is slightly higher than the $36.6m made in September.
October was also a good month for the smaller licenses that managed to expand their services:
- Ocean increased by 33.0%
- Bally’s gained 22.2%
- Tropicana was up 20.0%
Borgata/BetMGM blew the market again with $38.3 million (2020: $22m) in gross gaming revenue during the month. Golden Nugget is next with $34.4m (2020: $28.1m), and Resorts follows with $29.2m (2020: $21.6m).