New Jersey Sports Betting Revenue Drops 24% in June
Casinos and racetracks report significant declines attributed to luck and variability in gambling outcomes.
Overview
- Overall gambling revenue in New Jersey increased by 7.4% to over $491 million in June.
- Sports betting revenue at New Jersey casinos fell by nearly 24%, while total sports betting revenue, including horse tracks, declined by 9.5%.
- Some casinos, like Bally’s and Hard Rock, saw substantial increases in sports betting revenue despite the overall decline.
- Industry officials cite poor luck and the inherent variability of gambling as primary factors for the revenue drop.
- Concerns remain as only two casinos reported higher in-person gambling revenue compared to pre-pandemic levels.