- Legal States
Velimir Velichkov November 18, 2022 3 min read
New Jersey Operators Report $445.7M in Revenue for October
The gambling regulator in New Jersey, the Division of Gaming Enforcement (DGE), released its latest report outlining the performance of licensed sports betting, internet gaming and casino operators in October.
DGE Releases October Report
The total gaming revenue reported by racetracks, casinos and their partners last month hit $445.7 million. Although this was a strong month, still, the results marked a slight 0.7% decrease when compared to the $448.7 million reported for the corresponding period in 2021.
While the total gaming revenue last month did not surpass the result from 2021, this was not the case for year-to-date results. DGE’s latest report reveals that year-to-date total revenue reported by licensed operators in hit $4.32 billion. When compared to the same period in 2021, this year, a strong growth of 10.8% is observed.
Last month, the taxes paid by operators hit $45.5 million. This marked a slight decrease when compared to the $45.8 million in taxes reported for October 2021. On the other hand, year-to-date taxes increased hitting $432.9 million until the end of October this year. In contrast, for the same period last year, taxes were $396.8 million.
Casino, Sports Betting Revenue Decreases
A breakdown of the $445.7 million in revenue shows that casino operations were responsible for the majority of revenue or $220.6 million. When compared to the $237.5 million reported in casino win from the same period in 2021, this year, a decrease of 7.1% is observed. Not unexpectedly, a breakdown of the casino win shows further decreases. Slots machine win last month hit $166.2 million while table game win hit $54.4 million, down 7.3% and 6.6% respectively.
The sports wagering revenue last month decreased as well hitting $77.9 million, down 7.4%. This comes as no surprise, considering that the betting handle this October decreased significantly. The total sports betting handle last month was $1.06 billion, down by nearly 19% from the $1.30 billion reported in October last year.
In contrast to the reported declines, the total internet gaming win increased last month. In total, the internet gaming win hit $147.2 million this October, up 15.9% when compared to the $127 million reported in October last year. A further breakdown of this result shows that peer-to-peer revenue decreased by 8.2% to $2.2 million. However, the revenue from other authorized games increased by 16.4% this October hitting $144.9 million.
Resorts Digital Posts Highest Increase in Revenue
The operator that reported the highest increase in total gaming revenue last month was Resorts Digital. The venue’s gaming revenue in October hit $56.5 million, up 25% when compared to October last year.
Strong growth was also reported in the gaming revenue for Bally’s last month. The casino’s total gaming revenue in October hit $15.5 million, up 20% when compared to the $12.9 million result from the same period in 2021.
Without any doubt, the highest revenue reported in October was the Borgata’s. The operator reported $113 million in total gaming revenue this October, marking a 4% increase when compared to the same period in 2021 when the revenue halted at $108.6 million.