New Jersey and UAE regulators enter strategic partnership
New Jersey’s Division of Gaming Enforcement (DGE) has signed an international agreement with the United Arab Emirates’ General Commercial Gaming Regulatory Authority (GCGRA)....
New Jersey records the highest iGaming revenue in March
iGaming revenue reached $243.9 million in New Jersey, making March the best-performing month.
However, March was not only about a record. Both sports betting and land-based casino revenue saw major declines.
Altogether, gambling revenue in March totaled $546.1 million, a solid 3.7% increase when compared to the same time last year. Most of that came from iGaming, which has quietly overtaken traditional casinos as the top revenue stream.
Online casinos
Revenue for online casinos increased 23.7% year-over-year. Most of it, about $241.3 million, came from online slots and other games, with poker adding another $2.6 million. FanDuel and Golden Nugget Atlantic City led the way, but DraftKings and Resorts weren’t far behind.
Sports betting
For sports betting, March was not as good as for iGaming. Revenue declined by 20.5% to $71.3 million, with player spending down to $1.11 billion. FanDuel and Meadowlands still held the top spot, though their revenue dipped 13.4% from last year. DraftKings saw a bump, while BetMGM had a strong showing.
Brick-and-mortar casinos
This segment also faced serious challenges. Revenue declined by 3.7% to $230.9 million, as table game winnings fell sharply even though slot machines held steady.
In total, New Jersey collected nearly $60 million in gambling taxes for March, proving that despite some declines, New Jersey’s gaming industry is ahead of the competition.
PENN launches Hollywood Casino app in New Jersey
An American entertainment corporation operating casinos, sports programming, and integrated entertainment, Penn Entertainment, has officially announced the launch of its...
