NJ online casino revenue is still going strong in 2022.
The June New Jersey casino revenue dispatch provided last week by the Office of the Attorney General shows that the NJ online casino market continues to grow, making it one of the most formidable in the entire US online gambling market.
Revenue reports can be hard to understand and twisted to show positives, but the raw data shows that in New Jersey, a third (33%) of the June revenue ($133.1 million) was derived from online gaming, compared to 27% in June of 2021.
In 2022, online gaming revenue for New Jersey accounts for 33% of the total revenue so far ($2.43 billion) for the state’s casino industry, compared to 30% this time last year.
More proof that NJ online casino revenue is growing
New Jersey has nine casino/hotel properties.
Numbers were down at four of them compared to last June for regular retail revenue, but of the seven who offered online gaming this time last year, all of those numbers are up.
Ocean Casino has almost doubled its number, albeit it started low, and its $2.3 million is only a fraction of the overall New Jersey figure. Resorts have seen their revenue soar by 24%. Golden Nugget casino is up 29.4%.
The total gaming revenue for New Jersey in June of 2022 was $401.5 million, up from June of 2021 by $8.7 million, but overall, the number has dropped in the last three months.
It’s expected that total revenue would fall in the summer for casinos based on a myriad of factors, including summer weather and New Jersey’s Shore vacation spots. Inflation also must be considered a factor.
What NJ online casinos are winning big?
The Borgata has the largest number on the board, reporting $54.2 million in revenue, with $40.5 of that coming from its online brand. The Borgata was the first license holder to surpass $40 million in online revenue in May.
Hard Rock is next, posting a gain of $44.5 million, but it does not have the same share of the online casino market, with only $6.0 million coming from that arm.
On the flip side, the Golden Nugget took in only $12.5 million from its retail casino but $35.7 million online, showing it is a major player in the online gaming world. Golden Nugget, Fan Duel, and Sugar House online casinos all operate under the Golden Nugget license.
There was good news for Resorts Digital, the online partner of Resorts led by DraftKings and Barstool Sports. The retail casino amassed revenue of $13.7 million, while the digital side more than doubled that number with $28.1 million.
New Jersey sports betting drops
The 10 entities in the New Jersey sports wagering market have seen a drop of 20% combined compared to this time last year. June, a typically slow month for professional and college sports, saw a steep decline in New Jersey. The state’s casinos reported revenue of $24.1 million in June 2021, but only $15.2 million this past June on sports betting.
Throw in the state’s three racetracks, and the loss becomes even more severe. Last June, the Meadowlands racetrack had revenue of $44.5 million, but just $21.4 this June. The track should get a large boost from the Hambletonian scheduled for August 6.