New Jersey Gambling Industry Grows 6.8% in JuneContinuing the statistical trend for the gambling industry in New Jersey, we see another 6.8% growth in June. Today we’re looking into what this growth means for the industry, how it happened, and which aspects of the industry are the main contributors. If you’re someone who loves gambling and statistics, it’s always important to keep an eye on the trends in the industry.
Highlights & Summary
- DGE announces June 2022 Gaming Revenue Results - Released July 15, 2022.
- According to the latest figures from NJ DGE, the gambling industry has grown by 6.8% since June 2021.
- Sports wagering reflects a 44.9% decrease compared to the previous period.
- Total gaming revenue 2.2% increase compared to June 2021.
- Slot machines see an 11% revenue increase YOY.
June 2022 Gaming Revenue Results For New Jersey
|Product||Results in $||% Increase YoY|
As with our other revenue-related articles, we do a deep dive into the statistics behind the gambling industry growth to bring only accurate numbers to our readers. Alongside the statistics, we make sure to provide you with any essential details related to how the growth occurred.
Which product had the highest revenue in June 2022?
The product with the highest revenue in June of 2022 was casino games.
Compared to the second highest – which was internet games at $133,138,803
Casino games came in at $229,142,848, which is $96,004,045 more. That is quite a significant gap.
Which product saw the biggest percentage increase in June?
While casino games claimed the highest revenue, the biggest percentage increase belongs to the ‘Other Games’ category, which saw a massive 24.9% increase, totaling $130,945,012, which is $26,100,448 more than the previous year.
How did the sports wagering revenue compare to online casino games?
As seems to be the continuing trend, online casino games are steadily increasing in popularity. While sports betting made a revenue of $39,245,213, online casino games raked in a whopping $133,138,803. By comparison, that’s $93,893,590 more.
Did land-based casinos experience a higher revenue in June than internet games?
While there’s no denying the steady climb in revenue for online casino games, they still fall short of the massive revenue margins hit by land-based casinos.
During June of 2022, land-based casinos made $229,142,848, while online casino games made $133,138,803. That is almost $100,000,000 more, which is quite substantial.
While internet gambling is certainly on the rise every year – and even every month – it might take a while before it bests land-based casino revenue.
Did retail sports wagering experience a higher revenue than online?
With retail sports wagering making up only roughly 6% of the monthly revenue, it’s safe to say that online sports wagering makes significantly more. This is likely due to how easy it is to place bets online versus driving out to select locations to place bets.
Which sports categories are experiencing the most betting activity?
Based on the statistics, the sports category with the highest betting activity is Parlay bets totaling $191,769,736. A parlay bet is a bet where a player makes two or more bets and ties them into a single bet.
Should any of these bets fail the entire bet fails. While this is a high-risk bet, the reward is also much greater than with single bets.
However, when it comes to specific sports, the highest betting activity goes to basketball at $37,485,019 – which is just shy of double baseball’s bets, which come in at $19,960,119.
One can’t help but wonder if basketball will remain the leader, and if yes, for how long?
Which casino licensee contributed the most?
The casino with the highest contribution to the industry for June 2022 was Borgata casino, with a massive $63,395,602 contribution. Compare that to the second highest, which is Resorts Digital at $34,131,452, and you quickly see just how dominant Borgata casino was during this month.
What was the total tax contributed to the state of NJ during June?
While gross revenue is always interesting to see, we can’t forget to look at total contributions in taxation. Here are the total contributions in taxes for a few different categories:
- Gross Revenue Tax: $84,824,951
- Sports Wagering Tax: $1,754,789
- Internet Gross Revenue Tax: $122,283,865
- Internet Sports Wagering Tax: $38,132,542
There is no denying the immense numbers of money flowing from the gambling industry into the state of New Jersey. These numbers come from years of growth and focus on providing the state with the proper regulations to make these operations as functional as possible.
Takeaway on Growth of NJ Gambling Industry in June
As you can see, the casino industry is nowhere near slowing down in terms of monthly revenue. With gains seemingly growing every month in most cases, it’s hard to imagine how much money this industry will make a few years from now.
In our opinion, the most important piece of information is that of the revenues for the different categories, as it provides us with a clear indication of where the industry is heading – or was focused for said month.
These numbers indicate clearly to us that while land-based casinos are still the highest earners, NJ online casinos are not too far behind and are certainly seeing higher percentage increases in their growth compared to last year.
If you love playing games of chance and learning more about the industry, remember to keep an eye out for our other articles and to always gamble responsibly. If you feel yourself developing a gambling problem, always seek assistance to get back in a healthy place.
Resources & Sources
- Financials, New Jersey Office of the Attorney General, Accessed 17 October 2022, <https://www.nj.gov/oag/ge/docs/Financials/PressRelease2022/June2022.pdf>