New Jersey reports triple-digit annual rise in total gaming revenue for May

New Jersey registered across-the-board growth in total gaming revenue for May after reporting $374.2m last month.

That represents a 290.4% year-over-year increase from the $95.9m in gambling revenue the state generated in May 2020, as well as a 6.4% uptick from April’s $352.2m.

The 2020 numbers were notably depressed by the closures of casinos and suspension of most major sports caused by the coronavirus pandemic. As a result, igaming represented the only significant revenue stream for operators throughout the height of the pandemic.

Fast forward a year and all is nearly back to normal for New Jersey operators, which logged $108.2m in internet gaming win (25.9% YoY increase), $52.9m in sports betting revenue, and $213.1m in casino win for the month of May.

While sports betting handle was up 14% month-over-month in May at $814.2m, revenue dipped about 3% on account of a lower hold (6.5%) than April’s 7.3%.

The numbers were nonetheless solid given a bit of a lull in the sporting calendar. That was reflected in baseball assuming top billing with $326m in handle, followed by basketball, which generated $217m.

In terms of igaming, Borgata led the way with $32.8m of the $108.2m in total revenue, with Golden Nugget Online Gaming right on its heels at $31.1m. Resorts Digital rounded out the top three, with $21.5m.

As for the $213.1m in casino win, slot win ($157.8m) accounted for nearly three-quarters of total revenue, while table games generated $55.4m in revenue.

New Jersey’s total gaming revenue sits at $1.72bn for the first five months of 2021, up 85% from 2020.