Despite claims by New Jersey officials that in April they were tracking an 8% decline in sports betting margins, the gambling industry’s annual return increased by 20%.
Market Situation in April
Compared to April 2021, the average market income rose by $ 80 million this year. As of April 2022, the overall proceeds were $ 423 million. Which is also 10% more than the figures observed in March.
The casino is the main source of profit for government institutions. Gambling delivered New Jersey approximately $ 235 million in April. While the payoff from slot machines has grown to $ 175 million, the board game industry has given the government more than $ 60 million.
In terms of sports betting, here the situation has changed significantly. In the annual measurement of the industry, profit decreased by 8%. At the same time, government revenue from the industry increased by 24% and now stands at almost 927 million dollars. Hardly all of this amount was raised through online betting, and only a fraction of it came from retail sports games.
Industry Leaders
According to the general calculations for April 2022, there are certain leaders in the online casino market, whose profitability exceeds that of other companies:
- Borgata — $ 39.9 million;
- Golden Nugget Online Gaming — $ 38.1 million;
- Resorts Digital — $ 29.1 million.
Reviewing the situation of independent operators in the gambling market, Meadowlands successfully maintained its leading position with a monthly income of $ 33 million. This was done through a diligent collaboration with FanDuel.
One of the leaders in sports betting has become the company Resorts Digital, which has partnership agreements with various market representatives. The profit of the organisation was $ 7.5 million. A bit lower position took Borgata with $ 4.5 million.
Since early 2022, New Jersey’s average gambling income has risen by 19 per cent over last year’s figures. Thus, the final sum of the sphere delivered the state $ 1.60 billion.
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