The August partnership resulted in $56.9 million in revenue, surpassing Meadowlands and partners FanDuel, PointsBet, and SuperBook who earned $25.7 million. PointsBet will soon be rebranded as Fanatics after the acquisition by the latter in eight states, including New Jersey. The total sports betting revenue for the month was $96.0 million, a 47.1% increase compared to last year. This sector showed the highest percentage of growth in the state in August. Additionally, sports wagering handle in New Jersey increased by 32.7% year-on-year, from $546.8 million to $725.8 million. Out of this total, $697.1 million was bet online and $28.8 million at retail sportsbooks in New Jersey.
Sports betting played a significant role in driving overall market growth in New Jersey. The total gambling revenue in the state increased by 12.9% year-on-year to reach $531.6 million in August. This was comfortably higher than the $470.7 million generated in August 2022 and a 5.0% increase from the $506.2 million in July of this year. Land-based gambling contributed $280.3 million in revenue, a 2.3% rise from last year. This included $210.5 million in slot revenue, a 3.0% increase, and $69.7 million in table game revenue, which saw a slight 0.2% rise. Online gambling emerged as the next highest source of revenue, generating a total of $155.3 million in August, an 18.1% increase compared to the previous year’s $131.4 million. Online slots accounted for $152.9 million of the overall online gambling revenue, with peer-to-peer poker revenue at $2.4 million. Resorts Digital led the month with $42.3 million in online gambling revenue, followed by Golden Nugget with $40.8 million and Borgata in third place with $40.2 million, the leader in July.
Looking at the year-to-date performance, the overall market revenue in New Jersey for the first eight months of the year reached $3.77 billion, marking an 11.2% increase compared to the same period in 2022. Land-based gambling contributed $1.93 billion, showing a 2.3% rise. This included $1.43 billion in slot revenue and an additional $496.1 million in table game revenue. Internet gambling revenue increased by 14.6% to $1.24 billion, with online slots revenue growing by 14.8% to $1.22 billion and internet poker revenue rising by 6.6% to $19.8 million. Sports betting revenue experienced a significant surge of 42.7% to reach $597.9 million for the eight-month period, with a total handle of $6.47 billion.
