The Garden State has come out swinging in 2022, simultaneously recording all-time-high sports wagering and iGaming revenue.
And while its sports betting handle amounted to $1.35bn for January, online casinos and poker rooms also performed well, exceeding December’s previous record revenue by more than $5m, or 3%.
Daily revenue for this segment rose to $4.4m over January, up from December’s $4.3m per day. And broken down, online casinos generated $135.3m in revenue, up nearly 34% from January 2021’s $101m. Poker rooms, meanwhile, produced a considerably more modest $2.6m, though this was up 6.8% year-on-year.
Leading New Jersey’s iGaming sector was Borgata, with $39.1m in revenue for January, while Golden Nugget Online Gaming (GNOG) came in second with $36.5m and Resorts Digital third with $33m, representing 36.2%, 17% and 44.6% growth respectively.
What’s more, New Jersey’s iGaming sector generated $24.1m in state and local taxes. Eric Ramsey, an analyst for the PlayUSA.com Network, said: “The momentum for online casinos will remain a stalwart for New Jersey’s gaming industry no matter how much sports betting expands in New York.
“Revenue from online casinos has never been more important for the state’s tax collection.”
The Garden State’s traditional, brick-and-mortar casinos didn’t slouch either. Combined, New Jersey’s nine hotel casino properties reported $183.6m in total casino win for January, reflecting nearly 15% year-on-year growth.
Once again, Borgata came first, recording more than $48m in revenue, while Hard Rock Hotel & Casino was second with $34.7m and Ocean Casino third with $24.1m.
