Sportsbetting malaise negatively impacts New Jersey online gaming revenues

The 23 online casinos and sportsbooks licensed by the state of New Jersey reportedly had a slow June after chalking up aggregated gross gaming revenues that were around 13% lower month-on-month at approximately $45 million.

Terrific tumble:

According to a Monday report citing official figures from the New Jersey Division of Gaming Enforcement, the majority of this decline had come as a result of a severe deceleration in the amount of cash punters had spent on online sportsbetting. After this vertical recorded takings of about $13.75 million for May, last month’s figure purportedly dropped by almost half to hit only $6.93 million and represent the lowest tally since the $3.12 million recorded for last August.

Casino control:

iGaming news domain, BonusSeeker.com reported that New Jersey’s entire iGaming market had recorded aggregated gross gaming revenues for June of $44.99 million with some $36.29 million of this having come from online casino games such as video slots and roulette. The eastern state’s sites also purportedly chronicled takings of about $1.77 million from online poker led by the $862,000 performance of the four domains licensed to the Caesars Interactive Entertainment subsidiary of Caesars Entertainment Corporation.

Principal participants:

In terms of the biggest players, the four sites licensed to Golden Nugget Atlantic City occupied top spots for June with aggregated gross gaming revenues of slightly over $13.59 million. This had been followed by the $6.93 million recorded by the domains tied to the Resorts Digital Gaming arm of Atlantic City’s Resorts Casino Hotel and the $5.66 million tally of the sextuplet associated with MGM Resorts International’s Borgata Hotel Casino and Spa.

Future faith:

Despite the underwhelming performance of New Jersey’s online sportsbooks in June, the Managing Editor for BonusSeeker.com, Rich Migliorisi, used the report to express optimism that the sector will rebound following the upcoming commencement of the collegiate and professional gridiron football seasons.

Migliorisi’s reportedly stated…

“We expected the industry to go through a bit of a dry spell following the completion of the NBA and NHL post-seasons. Baseball is the only sport day-to-day but as autumn comes we know sportsbetting in New Jersey will pick up sharply as football season kicks off.”