New Jersey Gambling delivers new monthly revenue records in October

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).