New Jersey's casinos, racetracks, and online partners produced $62.7 million in revenue on a handle of $698.8 million in Aug. 2024.
The Garden State’s casinos, racetracks, and online partners produced $62.7 million in revenue on a handle of $698.8 million last month.Despite increased sports betting action in August, Garden State operators never came close to duplicating the same revenue haul from 2023.in revenue, thanks to a 13.2% hold for operators that still ranks as the second-best all-time in New Jersey.
The Olympics and an early start to the college football season still led to a handle of $698.8 million, up 14.4% from the $597.9 million reported in Aug. 2023. The Garden State also surpassed $8 billion in sports betting handle year-to-date. The last month before the onslaught of football action produced a handle up 9.6% from July. Revenue, however, fell 21.6% month-over-month as the win rate tumbled more than three points to 8.8%. profits were down for operators in August, but some made up for it with iGaming. New Jersey online casinos hauled in a record $198.4 million, up 28% year-over-year. Total gaming revenue reached $555.1 million for the month, a 4.4% year-over-year increase.
DraftKings came in second with $15.5 million in revenue in August, down more than $10 million from the previous month. BetMGM was the only other sports betting operator to reach $5 million. New Jersey’s retail sports betting operators generated a $32.5 million handle in August, up 28.5% year-over-year. With the NFL underway and a new Fanatics brick-and-mortar sportsbookearlier this month for accepting wagers on two events that had already occurred.
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