Business at New Jersey Online casinos has suffered in April. The NJ online casinos and sportsbooks gross gaming revenues (GGR) dropped $10.27 million month over month.
According to the financial figures released by the New Jersey Division of Gaming Enforcement on Tuesday, NJ online gambling operators generated a total of $53.08 million in online gross revenue in April compared to a total of $63.36 million in the previous month.
Online gambling revenue dropped 16.2 percent in April. NJ Gaming enforcement posted $34.91 million in gross online casino gaming win, $16.50 million in total online sports betting win and $1.67 million in gross online poker gaming win.
While it was anticipated that April would be slow in terms of revenue generation, it marked the second largest revenue month since market inception, generating $36.58 million in online poker and casino game revenues in the April 2019.
Majority of the revenue generated came from Fanduel. In March the revenues shot up due to heavy betting on NCAA’s college-level basketball tournament March Madness.
The NCAA’s college-level basketball tournament March madness saw record betting in New Jersey. Over $106 million was wagered during the event, which is almost three times the betting on Super Bowl, in February.
A total of $34.9 million was wagered in New Jersey on the Super Bowl. While $80 million was wagered online, the remaining came from bets placed at licensed gaming venues.