New Jersey gambling operators report $423.7m revenue in March

The New Jersey Division of Gaming Enforcement (DGE) announced the gaming revenue results for licensed operators in the state for March 2022. Based on the results, it looks like the industry had another successful month.

In total, last month, the licensed gambling operators in New Jersey reported $423.7 million in revenue. This marked a significant 17.9% increase when compared to the $359.3 million in gaming revenue reported by the operators for March 2021.

Similarly, year-to-date revenue this year increased as well. March year-to-date revenue for licensed gambling operators in New Jersey hit $1.17 billion, up 18.6% when compared to the $993.7 million for the same period in 2021.

Slots and table games showed a double-digit increase in March. The total casino win for last month hit $216.6 million, up 17.2% when compared to the $184.9 million from 2021.

In its report, the DGE provided a breakdown of the revenue reported by the operators last month. The $216.6 million breaks down to $156.7 million in winnings for slots, while table games win hit$59.9 million. The former marked a 16.7% increase when compared to the same period in 2021, while the latter marked an 18.4% increase.

The winnings brought by online gambling activities increased significantly last month. The overall internet gaming win in March hit $140.7 million. This marked a significant 23.7% increase when compared to the $113.7 million in internet gaming win from the same period the prior year.

The revenue from sports wagering increased as well. In March, the sports wagering revenue hit $66.4 million, up 9.3% when compared to the $60.8 million in revenue for the same period last year. The betting handle for sports wagering operators in March hit $1.12 billion. From that total, the retail sports wagering handle was $79.5 million, while the online sports wagering handle hit $1.04 billion.

Without any doubt, the packed sports schedule helped boost the betting handle last month. In particular, the 2022 NCAA Tournament, also referred to as March Madness, helped contribute to the $1.12 billion in betting handle last month.

Focusing on the bigger picture, the year-to-date betting handle for retail sports wagering hit $304.6 million. What is more, the year-to-date betting handle for online sports betting hit $3.12 billion. Overall, the year-to-date results for the betting handle for licensed operators in New Jersey surpassed $3.4 billion.

According to the DGE, year-to-date casino winnings increased by 24.2% to $612.7 million. Moreover, year-to-date winnings from internet gambling activities increased even more to $408.5 million. This result shows a 31.2% increase when compared to the $311.2 million in winnings for the same period the prior year.

In contrast to the positive results, year-to-date results for the sports wagering winnings marked a decrease. The regulator revealed that this year the revenue hit $157.5 million, down 16.8% when compared to the $189.3 million from the same period in 2021.

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