The New Jersey gaming industry has reported its total revenue for October.
That New Jersey Division of Gaming Enforcement (DGE) disclosed a total game turnover of $445.7 million. This is down 0.7% year-on-year (YoY) compared to $448.7 million in October 2021.
All of the state’s gaming revenues currently stand by $4.32 billionwhich represents an increase of 10.8% year over year compared to the $3.89 billion it generated last year.
Additionally, New Jersey is the first state alongside Pennsylvania to generate $1 billion in gross online gambling revenue annually.
New Jersey gambling sets casino and sports betting records in October
Create $220.6 millionBoth casino and sports betting gross revenue saw a 7% decline compared to October 2021 revenue of $237.5 million.
However, online gaming grew by almost 16%. The Division of Gaming Enforcement reported online casino revenue of $147.2 million for October, beating the previous record of $140.6 million 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 $77.9 milliona 7.4% decrease from $84.2 million in October 2021. Year-to-date sports betting revenue is $594.8 million, down 7.3% from 641.9 million US dollars in the previous year.
NJ casino operators made $1.3 billion in sports betting in October
New Jersey’s October sports betting handle is coming up $1.06 billionwhich raised $987.6 million from online casino operators and $72.55 million from retail casinos.
Online and retail operators set another US record by scoring $1.3 billion in sports betting in October. That number topped September’s previous record of $1.01 billion by 28.9%.
Overall, the sports betting operators from New Jersey won $84.2 million in October, up 43.8% from $58.5 million a year earlier. When producing $12.7 million in state taxesOctober revenue surpassed the previous record of $82.6 million set in January 2022.
FanDuel, PointsBet and super book continued to lead and generate the online gambling market in New Jersey $39.6 million in gross sales. The number is slightly higher than the $36.6 million made in September.
October was also a good month for the smaller licenses that were able to expand their services:
- Ocean up 33.0%
- Bally is up 22.2%
- Tropicana up 20.0%
Borgata/BetMGM blew the market with it again $38.3 million (2020: $22 million) in gross gaming revenue during the month. Golden nugget follows with $34.4 million (2020: $28.1 million) and resorts follows with $29.2 million (2020: $21.6 million).