May Revenue Highlights: New Jersey’s Gambling Landscape
In May, New Jersey’s gambling scene showcased a vibrant mix of land-based and online gaming, with online gambling achieving an impressive record.
Online betting in the Garden State surged to $246.8 million, marking a significantly successful month and demonstrating growth across various sectors.
Overall, the total gambling revenue for May reached $614.7 million, a remarkable increase of 20.5% from the same month the previous year. This figure also represented a 14.6% uptick compared to April, highlighting a consistent upward trend, according to the New Jersey Division of Gaming Enforcement.
Interestingly, while land-based casinos led in total revenue for the first time in months, online gaming still made headlines with its standout performance.
Online Gaming Breaks Records
iGaming operators experienced a remarkable 28.5% year-on-year revenue boost, surpassing their previous record set just two months earlier by 1.2%. The bulk of this revenue—$244.2 million—derived from online slots and table games, showing a 28.6% increase compared to the previous year.
The continued success of operators like FanDuel, in collaboration with Golden Nugget Atlantic City, underscored their market dominance, generating $54.5 million. DraftKings, with Resorts Casino Hotel, closely followed, achieving $48.1 million, while BetMGM’s partnership with Borgata rounded out the top three with $32.5 million.
Sports Betting Growth
In the realm of sports betting, the sector saw revenues exceed $102.5 million in May, reflecting a 30.2% increase from last year and a 13.3% rise over April. Online betting contributed a significant $98 million, while retail sportsbooks reported a notable improvement, raking in $4.5 million—up 326.6% compared to the previous year.
Overall, bettors placed $1.01 billion in wagers, which has increased by 12.4% from May of 2024. The state’s hold for the month settled at 10.14%.
FanDuel and Meadowlands dominated the online market with $44.3 million, while DraftKings and Resorts Casino Hotel were second with $28.3 million. Retail-wise, Meadowlands led with $4.8 million in revenue.
Resurgence of Land-Based Casinos
After being outshined by iGaming for several months, land-based casinos returned to the forefront, generating $265.3 million—an increase of 10.9% year-on-year. Slot machine revenue saw a healthy boost of 7.5%, reaching $194.8 million, and table games climbed 21.9% to a total of $70.5 million.
In terms of taxation, New Jersey accrued $66.8 million across all sectors in May, highlighting the robust fiscal contributions of the gambling industry.
Year-to-date, New Jersey’s total gambling revenue stands at $2.74 billion, a 6.6% increase, with breakdowns of approximately $1.16 billion from iGaming, $1.12 billion from land-based venues, and $460.2 million from sports wagering. This reflects a vibrant and continually evolving landscape for gambling in the state, integrating both traditional and online platforms seamlessly.