New Jersey gambling revenue up by over 15% in March

New Jersey gambling revenue up by over 15% in March

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New Jersey gambling revenue up by over 15% in March

The NJ Division of Gaming Enforcement has recently published the statistics for the market’s performance in March, with the headline figure being a 15% increase in revenue.

New Jersey’s gambling operators made a combined just over 487 million dollars in the month, which is over 63 million dollars more than the 423 million dollar figure recorded in the year prior.

Breaking down the statistics, land-based casinos were the most profitable for the state’s operators, making them a combined near 230 million dollars in the month. This was up from the previous year’s figures, although by a smaller 5.5% margin.

iGaming was next, making licensed gambling businesses over 165 million dollars in revenue, which constituted a near 18% increase from the 140 million dollars recorded in March last year.

The smallest contributor in the period was sports wagering, which made local operators just over 93 million dollars. However, the pastime saw the largest increase ratio in the state, jumping over 40% from 2022’s 66 million dollar figure. This revenue came from a total of just over 1 billion dollars of bets, the majority of which originated from the online vertical.

Breaking down the figures by the state’s top operators, the most successful one in terms of revenue was MGM’s Borgata, having made over 113 million dollars in the month. Resorts Digital and Golden Nugget followed next, with revenues of 74.6 million and 55 million dollars respectively.

Additionally, the report covered the market’s performance from the start of the year to the end of March, which revealed a 13% increase in total revenue at just over 1.33 billion dollars in contrast to 1.18 billion dollars recorded in 2022’s first quarter.

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