New Jersey has already surpassed Nevada in terms of sports betting, and it now looks like it is ready to claim the title in the entire iGaming industry.
Both Nevada and New Jersey continue to stand above the competition, but the online gaming revenue for New Jersey was extremely impressive.
New Jersey reported total gaming revenue of more than $374 million in May, and most of that total came from casinos. The total iGaming win was $108.1 million, an increase of nearly 26% from the May 2020 total.
MGM Resorts Borgata Online Casino has emerged as the clear gaming leader in the state of New Jersey, and that includes the BetMGM online casino. MGM Resorts had gross gaming revenue of $85.3 million for the month between its online and NJ mobile casino, sportsbook, and land-based property.
There is quite a race going on for the second-biggest gaming operator in New Jersey between Resorts, Hard Rock, and Golden Nugget. All three companies have online casino gaming in place in New Jersey, and that has helped each become a leader.
Brick and mortar casinos still actually bring in more revenue each month in New Jersey, but that is because the state is home to Atlantic City. Physical casinos posted total revenue of $213.1 million in May, but that’s actually a slight decrease from the May 2019 numbers.
The New Jersey online casino industry is making up for the decrease in in-person betting, but that’s a troubling trend for the Atlantic City properties. Those casinos have all found a way to take the action online, but there was hope that in-person gaming would continue.
Capacity limits are now completely lifted for the Atlantic City casinos, and that should help those numbers in June. Regardless, the New Jersey online casino industry has been picking up what is being lost from in-person casinos.
Michigan Online Revenue Falls
The Michigan Gaming Control Board recently reported the state totals for May, and online revenue actually decreased from April. This was the second straight month that the total online revenue has fallen, and sports betting has played a role.
The total online gaming revenue in May was $114.3 million, a drop of close to one percent in April. Online casino gaming made up nearly $95 million of that total, and that was right on track with the April figures.
Michigan launched both online and MI mobile casino gaming and sports betting back in January, and the state has seen plenty of growth since then. Last month, online casinos paid $18.1 million in tax revenue to the state, while sports betting contributed less than $700,000.
BetMGM, a product of the MGM Grand in Detroit, was once again the clear leader in the online casino industry. That operator posted $36.1 million in revenue for the month, and it didn’t really have much competition.