The Garden State’s legal sports betting growth continues to hit impressive marks.
New Jersey’s April gross gaming revenue jumped 43.6% from the same month in 2022, the Division of Gaming Enforcement recently announced in their monthly figures release. The Garden State’s casino, racetrack, and online partner operators hauled in a combined $72.3 million in April, up from $50.3 million last year.
Revenue for the first four months of the year increased 40.6% year-over-year and reached $292.3 million year-to-date. Profits from April didn’t match the stellar month of March, which was 22.2% higher with $93 million during the height of college basketball tournament season.
The handle also fell from $1.03 billion in March to $833.9 million in April, but sportsbook operators still enjoyed a healthy 8.7% hold for the month. The win rate year-to-date was up nearly 63% from 2022, with New Jersey receiving $9.2 million in taxes — down from March’s $11.9 million.
Meadowlands Nearly Matches March Revenue
Online sports betting sites made up $798.5 million of the overall handle in New Jersey sports betting and $69.2 million in revenue in April, while retail held its own in win rate at 8.6% — which was just a hair short of online’s 8.7%.
New Meadowlands, which partners with mobile operators FanDuel, SuperBook, and PointsBet, recorded $36.1 million in online revenue, the best in the state. Profits were nearly identical to March’s $36.2 million haul. The racetrack’s brick-and-mortar location brought in another $1.97 million, the best among retail sportsbooks in the Garden State.
Resorts Digital, which works with DrafKings and FOXBet, was second in New Jersey’s mobile sports betting rankings with revenue of $20.4 million. That was down 31% from the previous month.
BetMGM helped Borgata bring in $6.1 million in online revenue and an additional $478,370 in retail.
