Coming off a very successful month - thanks to March Madness - New Jersey sports betting took a bit of a backseat in April.
The official monthly figures were released Tuesday afternoon by the New Jersey Division of Gaming Enforcement (NJDGE).
Total sports betting handle in the Garden State generated more than $833.98 million, a dramatic 18.7% ($192M) decrease from March's $1.026 billion. and down 10% from April 2022 ($926.94M).
New Jersey sports betting apps garnered more than $798.49M, an 18.1% ($176.6M) decrease from March ($975.17M) and down 7.5% from April 2022 ($863.14M).
Usage by mobile users increased by 0.6% to a 95.7% share of the sports betting market in April.
Sports betting revenue also dropped in the state ($72.3 million), down 22.3% from March ($93M). It was, however, a considerable 43.6% hike from April 2022 ($50.3M).
The $93M revenue number posted in March was the third-highest recorded in the state, right behind $114.79M in Nov. 2021 and $97.98M in Sept. 2022.
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Slight Decreases in Brick-and-Mortar, iGaming
Total gaming revenue for April totaled more than $462.7M, down 5.1% from March ($487.39M). It did see a nice 9.5% uptick from April 2022 ($422.5M), though.
April's internet gaming win recorded more than $158.93M, down 4.1% from March ($165.71M), but up a solid 16.1% from April 2022 ($136.88M).
Jane Bokunewicz, faculty director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism (LIGHT) at Stockton University School of Business, assessed the April report by the NJ Division of Gaming Enforcement:
“While April 2023 fell just shy of April 2022 for brick-and-mortar gross gaming revenue (down 1.6%), it set a new near-term record for total April GGR for Atlantic City’s casino operators ($420.9 million in April 2023 compared to $386.8 million in April 2022),” Bokunewicz said.
“Heading into what could be a pivotal 2023 summer season, this momentum in total GGR earnings could help the industry overcome increased operating costs driven in part by a continued shortage in labor and higher wages due to last summer’s Local 54 contract negotiation. When first quarter 2023 numbers are released next week, we will have an even clearer picture of how current GGR levels are translating to net revenue for Atlantic City’s gaming operators.”
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