New Jersey online casino revenues top $38m as sports betting slows
Sports betting revenues hampered by seasonality and low margin but online casino continues to flourish
Online gaming continued to post significant revenue and growth numbers in New Jersey in June, despite the effects of seasonality which saw sports betting revenues tick back slightly from May.
June online gaming revenues came in at $38.1m, down around 0.5% from May but up 68% year-on-year.
Online casino specifically was up 73% year-on-year to $36.3m while poker was up 1% to $1.8m.
Sports betting revenue was down around 37% month-on-month to $9.7m, in part as the sporting calendar thinned out, and in part due to a lower hold for the month of 4.7% on completed events compared to 5.7% year-to-date.
The women’s World Cup was a surprise boost to operators, but patriotic bettors also made a dent in margin as the US won the competition. FanDuel said it paid out $400,000 on Team USA.
The Meadowlands license continued to generate the most revenue, led by FanDuel, with $4.4 m in June.
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