New Jersey sports betting revenue down nearly 24% year-over-year
Many industry officials in the state were said to believe the decline in revenue is due to
The New Jersey Division of Gaming Enforcement has released the financial results for sports betting, online gambling and in-person casino games in the state throughout the month of June. The $27.1m in reported revenue from sports betting for June represents a 23.9% decrease year-over-year from what the state generated in June 2023.
The total sports betting handle reported for the month of June was $748.4m, with just under $719m having come from online sports wagering.
Combined revenue from sports betting, internet gambling and in-person casino games for June was up 7.4% year-over-year for a generated revenue of $491m. Many executives and New Jersey betting observers believe the decline in revenue for sports betting can be attributed to bad luck during the month.
Resorts Digital was down 43.3% from June 2023 to $14.3m in sports betting revenue for June 2024. The physical sportsbook at Resorts Casino saw its sports betting revenue decline by 34% to just over $99k. The Ocean Resorts Casino went from $82k in sports betting revenue for June 2023 to a loss of just under $19k year-over-year.
Bally’s was one of two properties to see an increase in sports betting revenue, taking in almost $1.9m for June 2024, up from the $351k reported in June 2023. Hard Rock increased nearly 200% year-over-year, generating $4.6m in revenue.
For overall gambling revenue, Borgata was up 5.7% having generated $110m for June while Golden Nugget increased by nearly 20% and generated $64.2m in revenue.
Hard Rock reported a June 2024 revenue of $63.7m, up 24.4% year-over-year, but Ocean Casino Resort generated $39.6m, down a slight 0.4% from June 2023.
Tropicana Hotel revenue increased by 30.7%, having generated $38.5m for June 2024. Bally’s was the last property to see an increase in revenue for the month, reporting $24.6m in revenue, up over 27% year-over-year. Caesars, Harrah’s and Resorts all saw decreases from June 2023, reporting losses of 11%, 8.8% and 2.3% respectively.
Tags/Keywords
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
