Even though sports betting goes down in April, New Jersey's gambling income goes up.
New Jersey's iGaming income came in just short of the state's all-time high in April.
In New Jersey April
In April, gambling income in New Jersey rose by 5% year-over-year. This was due to growth in the iGaming sector, which more than made up for declines in the sports betting and land-based casino sectors.
The total amount of money made that month was $536.6 million. It was more than $510.9 million in April 2024, but it was 1.7% less than March of this year.
Again, online gambling was the big deal in New Jersey; it brought in more money than land-based casinos combined. Data from the New Jersey Division of Gaming Enforcement showed that drops in other areas stopped the market as a whole from growing even more.
IGaming income falls just short of a new high
iGaming brought in $235.2 million, which is 25.2% more than the previous year. Also, it was just a little less than the high of $243.9 million set in March of this year.
This included $232.8 million from "other authorised games," such as slots, which is a 25.4% rise. The other $2.4 million, or 3.2%, came from online poker.
The Golden Nugget and FanDuel Atlantic City stayed ahead of the competition by making $52.9 million, which is an increase of 35.3%. They came in second with $46.9 million, which is 19.5% more than the previous year.
BetMGM and Borgata came in next with $29.6 million in iGaming income. Borgata's own brand came in third with $20.8 million. The next two casinos, Caesars and Tropicana Atlantic City, came in at $15.9 million each.
New Jersey's sports betting is going down.
The market for sports betting went down again, while the market for online casinos kept growing. At $90.5 million, sales were 14.8% lower than the same time last year.
Sales of sports betting sites online fell 15.7% to $87.9 million, but sales in stores went up 34.1% to $2.6 million, which was good news.
The monthly handle was $994.4 million in spending. It was 1.5% less than last year and 10.4% less than March. Bets placed online reached $954.1 million, and money spent in stores hit $40.4 million.
In this way, the state hold for the month was 9.1%.
In terms of managers, FanDuel and Meadowlands were once again the top earners with $31.8 million. Information about specific users is not made public on handle.
The next two casinos, BetFanatics and Bally's, came in second and third, respectively, with $22.8 million and $12.9 million, respectively. BetMGM and Borgata brought in $7.1 million, Bet365 and Hard Rock brought in $5.6 million, and that was the top five.
When it came to shopping, Meadowlands was by far the market leader with $1.7 million.
Online casinos are further ahead of land-based casinos.
The monthly report also showed that land-based casino income dropped 2.7% to $211 million. New Jersey's casinos used to bring in the most money from gambling, but the rise of online gambling has put them in second place.
Slot machine income went up by 2.1% to $162.2 million, but table games income went down by 16% to $48.8 million.
The monthly tax amount was more than $59.8 million. This included $35.3 million from online casinos, $12.7 million from land-based casinos, $11.5 million from online sports betting, and $212,287 from store sports betting.
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