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New Jersey iGaming Monthly Revenues Surpass $100m Mark Yet Again

New Jersey iGaming Monthly Revenues Surpass $100m Mark Yet Again

Just when you think the New Jersey iGaming market couldn’t possibly reach new heights, it continues to thrive. For April, the state saw a revenue total of $107.7 million. This total marks the third time in four months that the state was able to surpass the $100 million mark this year. The monthly total is actually the second-highest for the state in the history of online gaming.

New Monthly Totals

The New Jersey Division of Gaming Enforcement released the revenue numbers for April last week and it is amazing to see how high the numbers keep trending. For more than a year now, monthly revenues have increased rapidly due to the COVID-19 pandemic. Players sough online gaming while casinos were closed and continued to play online instead of being around people due to the high contagion factor.

April was unable to reach the all-time high for the state, which occurred in March 2021, with $113.7 million in earnings. While the number is below the previous month, it is still impressive. At one time, the state was consistently earning $80 million and that wasn’t too long ago.

The top operators in the state on a consistent basis is the Golden Nugget and the Borgata. For years, the Golden Nugget was able to maintain the top spot, but the Borgata finally closed the gap and has overtaken the previous leader for the past few months now.

In April, Golden Nugget Online Gaming reported a total of $32.4 million in earnings. This was an increase of more than 17% from the same time frame last year. The Borgata earned just a bit more at $32.8 million. They saw a huge jump from the same time in 2020, at more than 106%.

Their distant rival is Resorts Digital. The brand can’t seem to catch a break and reach the same totals that its two top competitors are able to earn just yet.

Booming Online Gaming Market

The online gaming market in New Jersey is booming. Online casino revenues are top dog but sports betting also brings in the big bucks. In total, the state earned $189.6 million in April alone. The sports betting industry generated over $54 million with the online casino and poker market generating the rest.

For the online sports betting industry, April was a milestone month. In April, the industry reached close to $750 million in wagers placed. With this total, the state has now seen over $15 billion bets place. This is a huge milestone and one that was reached in less than three years.

Each month we see the online gaming market continue to grow and expand. It might be new games are added by an operator or a new software company launches services. Whatever the case may be, the market is showing no signs of slowing down.

It will be interesting to see how the online casinos and sportsbooks fare over the next few months. Operators have experienced a boom due to the COVID-19 pandemic. However, the casinos are going to move to full capacity on May 19. Will this signal the end of the iGaming boom? Or will players continue to log online in high numbers to enjoy their favorite games from home?