An extra weekend of action in college football and the NFL boosted online and mobile sports betting revenue in New Jersey to a record $77 million in October, up about 7% from September and 48% year-to-year, data from the New Jersey Division of Gaming Enforcement (NJDGE) show.
NJ online casino revenue also hit a record $124.6 million in October, but revenue from the state’s three regulated online poker rooms fell 2.4% to $2.4 million.
Freehold, Barstool off to hot start
Meadowlands Racing & Entertainment, partnered with FanDuel Sportsbook, PointsBet and SuperBook, recorded $39.6 million in revenue, up 8.3% month-to-month ($36.6 million) and 35% year-to-year ($29.3 million). The racetrack continued to dominate the vertical and held 51.5% of the market in October, up slightly from September.
Resorts, with its own branded sportsbook and partners DraftKings Sportsbook and FOX Bet NJ, saw its sports betting revenue surge 21% month-to-month to $15.9 million, up from $13.2 million. Revenue was up almost 9% year-to-year, from $14.6 million. It held 20.5% of the market in October, up two points month-to-month.
It wasn’t a good month for Borgata, which also has its own branded sportsbook but is also in partnership with BetMGM Sportsbook NJ. Borgata, with 10% of the market, grossed $7.8 million in October, down almost 28.5% from September ($10.8 million). Still, Borgata’s revenue was up 140% year-to-year ($3.2 million).
Freehold Raceway, where Barstool Sportsbook launched in mid-August, brought in $6.8 million in October, up 6.5% from September ($4.1 million) and eight-fold from August ($753k).
Another record for online casino revenue
Online casino revenue in New Jersey hit a record for the second consecutive month. October was also the fifth record-breaking month for the year, illustrating that the vertical shows no signs of slowing down.
October’s total of $124.6 million was 3.6% higher than September ($120.1 million) and 27% higher year-to-year ($90.9 million).
NJDGE data show the partners on the Borgata license — BetMGM Casino NJ, Borgata, Pala and partycasino NJ — held 30.5% of the market and generated $37.9 million in October, up 1.8% month-to-month ($37.2 million) and up nearly 44% year-to-year ($21.4 million).
Golden Nugget, which includes FanDuel, PlaySugarHouse and other operators, was in second with $34.5 million in revenue. Meanwhile, Resorts and its partners, PokerStars NJ, DraftKings and Barstool, among others, was third with $28.7 million. The market shares for the two license groups were 27.5% and 23%, respectively.
The smaller online casino operators combined for $23.5 million in revenue and held 18.9% of the market in October. By comparison, they combined for $24.9 million in revenue and held 20% of the market in September.
Poker revenue takes a dip
At $2.4 million, online poker revenue in October was at its lowest point in the last four months. Revenue from the vertical was down 3.4% year-to-year ($2.5 million), but it has ranged mostly from $2.4 million to $2.7 million this year—above 2019 totals, but below the pandemic year of 2020.
WSOP NJ, on the Caesars license, was the only operator to gain revenue month-to-month. The $875k realized in October was an 8.7% increase from September ($805k) but was 8.1% lower year-to-year ($952k).
After battling for most of the last five-and-a-half years to be the top poker operator, the trio of online poker sites on the Borgata license (BetMGM Poker NJ, Borgata Poker NJ and partypoker NJ) stayed there for a second consecutive month – but just barely.
The Borgata trio held 38.5% of the market in October, compared to 36% for WSOP. Borgata also grossed $933k in October, down 8.6% month-to-month ($1.0 million) but up 29% year-to-year ($724k).
PokerStars NJ, on the Resorts’ license, was in third place with a 25.5% share. PokerStars had revenue of $624k in October, down 6.3% from September ($666k) and off 26% from October 2020 ($842k).