Plain old bad luck? New Jersey sports betting revenue down 24% at casinos, and 9.5% overall in June
New Jersey’s casinos saw their sports betting revenue decline by nearly 24% in June, and sports betting revenue overall in the state declined by 9.5%
ATLANTIC CITY, N.J. — New Jersey's casinos saw their sports betting revenue decline by nearly 24% in June, and sports betting revenue overall in the state declined by 9.5%, according to figures released Tuesday by state gambling regulators.
The New Jersey Division of Gaming Enforcement reported that the nine casinos collectively saw their sports betting revenue decline by 23.9% in June compared with a year earlier.
When the three horse tracks that take sports bets are included, the overall decline in such revenue for the state was 9.5%.
Total gambling revenue in the state, including internet gambling and money won from in-person gamblers, was $491 million, up 7.4%.
New Jersey was the state whose court challenge to a federal ban on sports betting in most of the country resulted in a 2018 ruling by the U.S. Supreme Court clearing the way for any state that wants it to offer legal sports betting.
Since then, New Jersey has been among the nationwide leaders in sports betting revenue.
But in June, according to the New Jersey Division of Gaming Enforcement, sports betting generated $27.1 million in revenue for the casinos after winning bets and other expenses were paid out. With horse tracks included, the total revenue figure was $60 million.
“At first glance, a decline of nearly 24% in sports betting revenue for Atlantic City’s casino operators is a bit surprising given recent positive performance from that sector,” said Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City gambling market.
But she noted that not all
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