New Jersey Sees Record Revenue in June
The state of New Jersey experienced record-breaking gaming revenue during June 2021, according to the state’s Division of Gaming Enforcement’s monthly gross revenue report. A figure of $392.8 million was generated in June, representing a 302.7% year-on-year increase, as well as the highest total in all monthly revenue reports currently available online.
The state of New Jersey has reported record-breaking gaming revenue for the month of June 2021, as per the state’s Division of Gaming Enforcement’s latest monthly gross revenue report. ©1778011/Pixabay
Land-Based Casinos Were Major Contributor to Record Revenue
New Jersey experienced potentially record-breaking levels of gambling revenue during the month of June 2021, according to the latest monthly gross revenue report released by the state’s Division of Gaming Enforcement.
A total generated revenue of $392.8 million was reached in June, which represents a 302.7% increase from the same period last year (2020). These figures simultaneously stand as the highest revenue totals in all currently available monthly revenue reports available on the Division of Gaming Enforcement’s website.
June’s revenue performance for New Jersey comes far ahead of the $364 million generated all the way back in July 2010, while also representing a 4.9% increase on May 2021’s performance of $374.2 million. Strong showings from all three of the state’s main gambling verticals — land-based casinos, iGaming and sports betting — are to thank for June’s exceptional showing.
By far the biggest contributor was revenue coming in from land-based casinos, particularly after all New Jersey casinos were permitted to open for the first time this year following widespread closures in 2020 due to the outbreak of the novel coronavirus (Covid-19) pandemic.
In light of this, casinos in New Jersey created $214.5 million in revenue. $154.1 million of this arrived from slot machines, while $60.4 million was generated by classic casino table games.
Revenue generated by online gambling also increased during this same period, up to a total of $107.1 million, representing a 26.1% increase from 2020. However, peer-to-peer games such as online poker only generated $2.2 million, representing a notable 37.5% decline. Despite this, the remaining authorized games which comprise New Jersey’s iGaming offerings brought in an impressive $104.8 million, marking a 28.8% increase from 2020.
Sports Wagering Also Grew, While MGM’s Borgata Casino Was Best Performer
Another gambling vertical which grew significantly during New Jersey’s record revenue results in June 2021 was sports wagering, increasing by a massive 465.9% year-on-year to a total of $71.3 million. $766.9 million in total wagers was put down; of this, $683 million was wagered online, while retail’s contribution was $83.9 million. The much-anticipated return of live sports events following a very quiet 2020 was surely a large contributing factor behind this.
Returning to land-based casinos, it was MGM’s Borgata Casino which performed best in New Jersey overall, generating a total gaming revenue (which combines casino, online and sports wagering) of $97.8 million. Borgata also held the highest casino and iGaming revenue, producing figures of $56.6 million and $34.4 million respectively.
Meanwhile, Meadowlands Racetrack came out on top in terms of having the highest sports wagering revenue, amounting to $44.5 million for June 2021. In a distant second place came Resorts Digital, generating only $13 million, with Borgata close behind with $6.9 million.
The cumulative generated gaming revenue in New Jersey for 2021 thus far sits at a comfortable $2.1 billion, which is already 105.7% higher than during the same period last year.
Pennsylvania Also Enjoyed Record Revenue in June 2021
One of New Jersey’s several neighbors, Pennsylvania, also enjoyed a particularly strong gambling revenue showing during the fiscal year 2020/21, which ran from July 1st, 2020 until June 30th, 2021.
A total gaming revenue of $3.88 billion was generated during the 2020/21 fiscal year in the Keystone State, which stands as an impressive 44.4% increase when compared to the previous year.
The largest contributor here was slot games, creating $1.89 billion in revenue during the fiscal year. Revenue generated by iGaming channels arrived next, at $897.2 million, followed closely by table games at $721.8 million. Sports wagering revenue also increased significantly during this period, soaring by 171.6% year-on-year to a grand total of $308.8 million.
Breaking down Pennsylvania’s slot machine revenue for the fiscal year 2020/21, Parx Casino brought in the most revenue at $373.4 million. Next on the list was Wind Creek Bethlehem at $221.9 million, followed not far behind by Pittsburgh’s Rivers Casino with $196.1 million.
Michigan Saw Slight Revenue Decline in May 2021
The state of Michigan’s regulatory gambling body, the Michigan Gaming Control Board (MGCB), reported a second consecutive month of decline in Michigan’s online gambling revenue back in May 2021, with $114.3 million generated in the sector — however coming in at only 0.8% lower than April’s results.
Online casinos specifically brought in $94.9 million in revenue for Michigan in May, roughly mirroring April’s total, while online sports betting revenue declined by 4.4% during the same period, coming in at merely $19.5 million.
In the report on the state’s online betting performance for the month, Michigan Gaming Control Board’s (MGCB) executive director Henry Williams attempted to explain why Michigan’s sports betting handle fell in comparison to the previous month:
“The event-driven sports betting handle dropped 4.9% compared with April. While Michigan does allow wagering on horse racing’s largest events through its regulated track and advance deposit wagering, it does not permit wagering on horse racing through the online sportsbooks.”– Henry Williams, Executive Director, Michigan Gaming Control Board (MGCB)
