NJ Online Gambling Revenue Tumbles In All Three Verticals in June

Online sports betting revenue took its usual summer dip, but it’s down more than 40% year-over-year. Online poker had its worst month since the pre-pandemic.
colorful arrows poitning downwards against a dark background with a grid
By
July 20, 2022

June 2022 wasn’t a particularly kind month for operators, as revenue in all three verticals — online poker, casino gaming, and sports betting — declined month-over-month.

Sports betting cratered more than 40% year-over-year. Although revenue from sports betting typically dips during the summer months, so far through the first six months of the year, the vertical is down 11.6%, compared to 2021.

Meanwhile, in another ominous sign, online poker had its worst month for revenue since the pandemic.

$25 no deposit credits + $1000 match bonus
$25 Free Cash
no deposit required
& $1000 match bonus
Last verified: Aug 2022
  • Generous welcome bonus
  • $25 in no deposit funds
  • Excellent live casino

Meadowlands Still Tops in Sports, But Down 40.5% From May

Data from the New Jersey Department of Gaming Enforcement (NJDGE) show online sports wagering revenue hit $35.8 million in June, down 38.6% month-over-month ($58.4 million).

It was the second-lowest month for sports betting in 2022, trailing only February’s mark of $32.7 million.

Sportsbooks operating on the Meadowlands Racing & Entertainment license — FanDuel Sportsbook, PointsBet, and SuperBook — continued their vertical domination with $19.3 million in revenue in June. But that was down 40.5% from May ($32.4 million).

Resorts, which has its own branded sportsbook but also partners with DraftKings Sports and FOX Bet NJ, grossed $4.6 million in June, down 59.2% month-over-month ($11.3 million). Borgata, which also has its own sportsbook and is partners with BetMGM Sportsbook NJ, made $4.6 million in June, but that was off 40.4% from May ($7.7 million).

The rest of the sportsbooks in the Garden State fared better — they grossed $7.3 million in sports betting revenue in June, up 5.7% from the preceding month ($6.9 million). Their market share also grew to 20.5% in June, up from 11.9% in May.

$1000 Risk-free on your first bet
$1000 Risk-free
applied to your first bet
Last verified: Aug 2022
  • Massive risk-free bet
  • Quality promotions
  • Good in-play options

Online Poker Revenue Lowest Since Pre-Pandemic

The online poker vertical’s overall revenue was $2.2 million in June, a 5.1% decline from May ($2.3 million). It was the lowest month for revenue so far in 2022 and the lowest since February 2020 ($1.8 million), the final month before the pandemic.

WSOP NJ, on the Caesars license, surged to $960k in June, up 11.1% from the month prior ($864k). But the trio of operators on the Borgata license — BetMGM Poker NJ, Borgata Poker NJ, and partypoker NJ — weren’t so lucky; they grossed just $639k in June, down 22.8% from May ($828k).

PokerStars NJ, which operates on the Resorts license, posted $594k in revenue in June, according to the NJDGE. That marked a 9% slide from the previous month ($619k).

$50 free credits + $1000 match bonus
$50 Free Cash
after depositing $10
& $1000 match bonus
Last verified: Aug 2022
  • $50 in freeplay funds
  • Play for WSOP bracelets
  • Rewarding promotions

Online Casinos Also Down, But Just Slightly

The Garden State’s online casinos fared the best in June, although revenue was still down month-over-month.

Overall, online casino gaming grossed $130.9 million in June, down 2% from May ($133.7 million). In a display of resilience, the vertical was up 24.9% year-to-year ($104.8 million).

Borgata’s online casino partners — BetMGM Casino NJ, Borgata, Pala, and partycasino NJ — made $39.9 million in June, down 4.4% from May ($41.8 million). The Borgata team also maintained their lead in market share for the 14th consecutive month, going back to May 2021.

But Golden Nugget and its partners — FanDuel Casino NJ, SugarHouse Casino NJ, and other operators — were right behind Borgata with a 27.3% market share. Revenue totaled $35.7 million in June, which was a 3.2% improvement over the month prior ($34.6 million).

Resorts and its online casino partners — Barstool Casino, DraftKings Casino NJ, Stars Casino, and others — had $27.5 million in revenue in June, down 5.8% from May ($29.1 million). Resorts and its partners held 21% of the market in June, down slightly from May.

Revenue for the state’s smaller online casinos was flat at $27.8 million. Their market share was also relatively unchanged at 21.3%.

Keep reading: