New Jersey March results; PointsBet outperforms DraftKings

Total gaming revenue was $526.6m, with sports wagering accounting for $89.7m.

new jersey gaming
Listen To Article

The state of New Jersey has released its gaming results for March 2024. Total gaming revenue was $526.6m, up 8.1% year-on-year. Of this, casino win totaled $239.8m, up 4.9%, internet gaming totaled $197.2m for growth of 19%, while sports wagering totaled $89.7m, down 3.6%. 

Sports wagering 

When looking into gross revenue generated by sportsbooks, it is unsurprisingly FanDuel, in partnership with New Meadowlands Racetrack, that contributed the most significantly to the monthly total, generating $29.5m in March. The sportsbook is the largest in the US by market share, holding 43% of the market according to Flutter’s Q4 report

Other casino partner PointsBet, which had its acquisition by Fanatics completed in the first week of April, also made up a significant portion of the month's sports wagering revenue, making $20.1m.  

The Fanatics app is currently live in 19 states, launching in Illinois in early April.  

DraftKings' total came in at $17.6m – a surprising change to the usual head-to-head seen between FanDuel and DraftKings in most US states. With Fanatics, and PointsBet under its belt, showing early potential to disrupt the FanDuel/ DraftKings empire, already in the top five sportsbooks by revenue in New York according to March figures despite only being live for a month, we may see this pattern continue. 

Taking fourth and fifth place were BetMGM at Borgata Hotel Casino & Spa and ESPN Bet at Freehold Raceway, generating $5.9m and $4.3m respectively.  

Several sportsbooks across the state reported a loss in sports wagering revenue, with the most significant coming from Sporttrade at Bally’s with a loss of $187,893. This was followed by Betway at Golden Nugget, with a loss of $115,057.  

Online and casino  

Borgata generated casino win of $56.5m, with $41.5m from slots and the remaining $15m from table games. On the online frontier, the casino’s internet gaming win totalled $43.8m, though less than $1m of this was made from peer-to-peer games. This is more than the casino made in March from its land-based slot games.  

The second-highest casino win in New Jersey in March was made by Hard Rock Atlantic City, which generated total casino win of $44.4m.

Of this, $30m was generated by slots and $14.3m was generated by table games. Hard Rock’s total online revenue came to $10.5m, making land-based play far more crucial to the tribal operator.  

No casino reported a loss in land-based or online gaming revenue.  

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium Connections
Consultancy
Executive Profiles
Flutter
Galaxy Gaming
Churchill Downs Incorporated
Oddsworks
Follow Us

Global Gaming Awards Asia-Pacific: Going live

The Global Gaming Awards Asia-Pacific are set for their firs...

Preview: SiGMA Asia 2024

SiGMA’s annual Asia summit comes back to Manila – signif...

Company profile: Praxis Tech

Being payments ready in Asia - A call to action for iGaming...