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PlayNJ.com: Sports betting slows in April, but New Jersey hits major milestones nonetheless
New Jersey sports betting volume expectedly slowed to less than $750 million in April, the first month of a typical seasonal dip that should last into August. But the popularity of the NBA helped buffer New Jersey sportsbooks more than in most other legal states, spurring enough action to push the nation’s largest sports betting market past $15 billion in lifetime handle, $1 billion in revenue, and $150 million in tax revenue, according to PlayNJ, which tracks the state’s regulated online gaming and sports betting market.
“Considering the challenges, particularly in 2020, $15 billion in wagering and $1 billion in revenue are incredible yard sticks that really drive home just how successful the New Jersey market has been,” said Eric Ramsey, analyst for PlayNJ.com. “At least until New York launches its sports betting industry, New Jersey seems untouchable as the nation’s largest market.”
New Jersey’s sportsbooks accepted $748 million in wagers in April, according to official data released Friday. That is down 13% from $859.6 million in March, but up 1,270.1% over the $54.6 million in bets taken in April 2020, the first full month sportsbooks were affected by pandemic-related shutdowns.
Operator revenue dropped 9.9% to $54.8 million in April from $60.8 million in March. Compared with April 2020, which resulted in just $2.6 million, revenue was up 1,981.9% year over year. April’s action yielded $8.1 million in state taxes.
From 2018 through April 2020, New Jersey sportsbooks have generated:
$15.2 billion in handle.
$1.04 billion in sport betting revenue.
$151.4 million in state taxes.
April’s results are microcosm of the consistency that has helped make New Jersey the nation’s top sports betting market. While New Jersey’s volume declined from March, the month-over-month drop in wagering was less pronounced than other U.S. betting markets, including Colorado (-18%), Indiana (-25.4%), Iowa (-26.7%), and Michigan (-30.5%).
The popularity of the NBA and baseball in New Jersey was a key reason, as area bettors were particularly motivated by the success of the Brooklyn Nets, Philadelphia 76ers, and New York Knicks. In all, basketball betting produced $176.2 million in bets, which was down from the $441.7 million tallied during March Madness. Baseball’s first month was the second-most popular bet in April, generating $159.3 million.
“New Jersey is unique in that it has never been quite as reliant on football as other legal jurisdictions,” said Dustin Gouker, analyst for PlayNJ.com. “NBA has always been particularly popular. Add that the region’s three most popular teams are all enjoying relatively strong seasons, and New Jersey sportsbooks have so far been able to smooth the natural seasonal decline that begins in April.”
Even with retail restrictions loosening in Atlantic City, online betting accounted for 91.1%, or $681.2 million, of the state’s total handle in April. FanDuel Sportsbook/PointsBet topped the online market with $25.5 million in gross revenue, down from $28.5 million in March.
FanDuel was followed in revenue by:
Resorts Digital/DraftKings/Fox Bet ($12 million, down from $14.1 million in March)
BetMGM/Borgata ($5.2 million, down from $6.5 million)
Ocean Casino/William Hill ($1.8 million, down from $2.8 million)
Monmouth/William Hill/SugarHouse/TheScore ($1.8 million, down from $2.2 million)
Hard Rock/Bet365/Unibet ($1.3 million, down from $1.4 million)
Golden Nugget/BetAmerica ($202,545, up from $111,453)
Tropicana/William Hill ($52,922, down from $142,633)
Caesars Sportsbook/888sport (-$183,283, down from $721,776)
Meanwhile retail sportsbooks generated $66.8 million in wagering, down from $79.5 million in March and a stark difference from the complete shutdown of retail betting in 2020. Meadowlands/FanDuel led all retail books with $3.6 million in revenue in April.
“Retail betting is slowly returning to normal, and that could become even more pronounced when all capacity restrictions are lifted next week,” Gouker said. “That won’t make a major difference for online sportsbooks, which are overwhelmingly preferred by bettors. But it could have an impact on online casino revenue, which made a massive and sustained jump since pandemic-related restrictions began last year.”
Online casinos and poker
Online casinos and poker rooms enjoyed another month of whopping revenue with $107.7 million in April, which was up 34.8% from $80 million in April 2020, though off from the record $113.7 million generated in March. April marked the third time in four months that New Jersey’s online casinos and poker rooms have produced more than $100 million in revenue, the only three months any state has crossed the threshold.
For the second consecutive month, Borgata, which includes the BetMGM brand, wrestled the market lead away from years-long market leader Golden Nugget. But only slightly. Borgata won $32.8 million in revenue on online casino games and poker in April, a dramatic increase from $15.9 million in revenue in April 2020 even if revenue was down from $36.2 million in March. Golden Nugget was second with $32.4 million in revenue, up from $26.7 million in April 2020 and up from $31.8 million in March. Resorts Digital, which includes the FoxBet and DraftKings brands, was third with $19.6 million in April, up from $16.1 million in April 2020 but down from $21.4 million in March.
“The battle for market supremacy was something that would have been hard to predict before the pandemic, but 2020 has really shaken up the way people interact with casino games, perhaps forever,” Ramsey said. “With restrictions in Atlantic City going away, though, this could mark the ceiling of the online market. But a more reasonable expectation is a moderation of the exponential growth that began in spring 2020, rather than an end to it.”
Other highlights from April report:
Online casinos and poker generated $3.6 million per day in the 30 days of April, down from the record $3.7 million per day in March and up from $2.7 million in April 2020.
Online casinos and poker rooms generated $18.9 million in state and local taxes.
Online casinos accounted for $105.3 million of April’s revenue, up 40.8% from $74.8 million in April 2020.
Online poker generated $2.4 million, down 53.3% from $5.1 million in April 2020.
For more information and analysis on regulated sports betting and online gaming in New Jersey, visit PlayNJ.com/news.
About the PlayUSA.com Network:
The PlayUSA.com Network is a leading source for news, analysis, and research related to the market for regulated online gaming in the United States. With a presence in over a dozen states, PlayUSA.com and its state-focused branches produce original daily reporting, publish in-depth research, and offer player advocacy tools related to the advancement of safe, licensed, and legal online gaming options for consumers. Based in Las Vegas, the PlayUSA Network is independently owned and operated, with no affiliations to any casino — commercial, tribal, online, or otherwise.
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Bragg Gaming Group, a leading global B2B iGaming content and technology provider, announced it has entered into a new financing agreement with the Bank of Montreal (BMO), a leading North American financial institution, pursuant to which BMO has made available to the Company certain credit facilities in a maximum aggregate amount of up to US$6.0 million to support its ongoing working capital and general corporate requirements (the BMO Facilities).
In connection with the closing of the BMO Facilities, Bragg has successfully repaid in full the outstanding promissory note with entities controlled by Doug Fallon (the Prior Note Indebtedness). The new BMO Facilities replace the Prior Note Indebtedness, signalling a significant step in the Company’s financial strategy to partner with a major commercial bank to support its growth.
“We are very pleased to establish this new relationship with the Bank of Montreal, a recognized leader in financial services. This new credit facility strengthens our balance sheet and provides us with a flexible capital structure to execute our strategic plan. The ability to secure financing from a major North American bank underscores the confidence in our business and our long-term growth prospects. We look forward to a long and successful partnership with BMO,” said Robbie Bressler, CFO of Bragg Gaming Group.
The BMO Facilities are secured by, amongst other things, a first-ranking security interest over all of the assets of the Company and certain of its key operating subsidiaries, and are uncommitted and are repayable upon the earlier of (i) demand by BMO, (ii) the occurrence of certain insolvency events, and (iii) on the one-year anniversary of the closing date, unless a one-year extension is granted at BMO’s discretion.
The agreement includes customary legal and financial covenants, including a requirement for the Company to maintain a Total Funded Debt to EBITDA ratio not exceeding 2.50:1.00, and a Fixed Charge Coverage Ratio of not less than 1.25:1.00. These financial covenants are to be tested on a consolidated basis at the end of each fiscal quarter.
The Company currently expects to draw on the BMO Facilities in Canadian dollars, which would result in estimated borrowing costs of 6.9%–7.9% for Prime-based loans or 5.9%–6.9% for CORRA-based loans, depending on the period of the draw and the Company’s leverage ratio. Standby fees on the unused portion of the revolving facility will range from 0.75% to 1.75% per annum, depending on leverage.
Management believes that based on the terms of the BMO Facilities, the Company’s borrowing costs on an annualized basis will be less than half of its Prior Note Debt.
Matevž Mazij, CEO of Bragg Gaming Group, said: “Securing this BMO facility represents a critical milestone in our strategic plan to strengthen Bragg’s financial foundation and accelerate value creation for our shareholders. With our cybersecurity incident contained and our borrowing costs cut by more than half, we are laser-focused on executing our strategic shift toward higher-quality earnings. The Company is prioritizing margin and cash generation over lower-margin revenue, and synergies realized post-quarter end to become a leaner operation. We’ve already realized EUR 2 million in annualized synergies and are on track to achieve our 20% Adjusted EBITDA margin target for the second half of 2025.
“Our recent leadership additions in AI and innovation, combined with our expanding partnerships with operators like Fanatics and Hard Rock Digital, position us to pursue highly accretive growth opportunities methodically. The Company remains focused on growing the business in a sustainable and margin-accretive manner, with strong momentum in the proprietary content and technology pipeline positioning Bragg for long-term profitable growth.
“We understand the importance of delivering results for our shareholders, and our board and management team are fully aligned and committed to executing the strategic initiatives that will drive value. With improved financial flexibility, a strengthened operational foundation, and clear milestones ahead, we believe we have the right strategy and team in place to unlock Bragg’s full potential. We remain committed to maximizing shareholder value as we build sustainable, profitable growth and ensure our strong operational performance translates into appropriate market valuation.”
Cyber Breach Update
The Company has also provided an update on its previously announced cybersecurity incident initially detected on August 16, 2025.
Immediately following detection, Bragg took appropriate steps to mitigate any potential impact of the breach. With the assistance of independent cybersecurity experts, the Company has followed industry best practices and considers that the incident is now resolved.
There continues to be no indication that any personal information was affected and the breach has had no impact on the ability of the Company to continue its operations. Bragg has also provided assurances to its customers regarding the security of its game titles. The Company has experienced no negative impact on its revenue or profitability and does not expect that the cost of responding to the incident will have a material financial impact on the Company.
The Company has already applied knowledge gathered from the investigation of the event to enhance its cyber security defenses.
The post Bragg Gaming Group Enteres into New Financing Agreement with Bank of Montreal appeared first on European Gaming Industry News.
Independent slots studio Thunderkick has agreed a deal with Ontario-based operator Betty to supply the rapidly growing online casino with a diverse collection of globally popular titles.
Betty, an official partner of sporting franchises Toronto Maple Leafs and Toronto Raptors, has risen to prominence since its 2022 establishment, when it was built following the consultation of 300 casino players to create the optimal iGaming environment.
Distinguishing itself from North American competitors by catering specifically to slot enthusiasts rather than sports bettors, the operator has curated a portfolio of 2,800 games, hand-picked to deliver customers maximum entertainment value.
Thunderkick’s content is the latest to be integrated into Betty’s online casino, and the agreement will see a selection of its most popular titles, including The Wildos 2, Midas Golden Touch 3, and Esqueleto Explosivo 3, made available to a greater number of Ontarian players.
Thunderkick marked its debut in the Canadian province in Q2 of 2024, and has since partnered with a network of leading operators to improve its market position. The collaboration with Betty will further amplify its visibility in a key jurisdiction as the provider looks to reinforce its reputation as a global slot developer.
Svante Sahlström, CCO at Thunderkick, said: “It’s our mission at Thunderkick to go deeper, not wider, in 2025. That means forging meaningful, lasting relationships in target markets as opposed to securing as many commercial deals as possible.
“Since entering Ontario over 12 months ago, we have worked tirelessly to enhance our presence in the province, and working with leading brands such as Betty allows us to bring our unique games to a deeper pool of Canadian players.”
Paraskeva Smirnova, Casino Operations Manager at Betty, added: “Betty’s USP has always been our drive to build a slot portfolio with the very best titles from the industry’s most creative suppliers.
“Thunderkick’s passion for slot development is there for all to see, and the introduction of its games to our casino further elevates the consumer experience.”
The post Thunderkick commits to growth in Ontario with Betty partnership appeared first on Gaming and Gambling Industry in the Americas.
BCLC is pleased to announce the return of the New Horizons in Safer Gambling Conference, taking place November 2–4, 2026, at the JW Marriott Parq Vancouver.
This global event brings leading voices in research, policy and industry together to explore innovative approaches to safer gambling. Attendees can expect two days of forward-thinking dialogue, evidence-based insights and collaborative solutions to help shape the future of player health.
Sponsorship Opportunities Now Available
New to the 2026 conference, BCLC is excited to offer sponsorship opportunities to organizations that share BCLC’s passion for safer gambling. Benefits of sponsoring New Horizons 2026 include industry visibility, leadership recognition and meaningful engagement with a global audience. To learn more about sponsorship, please e-mail [email protected].
Registration and program details will be released later this fall.
The post Save the Date: BCLC’s New Horizons in Safer Gambling Conference Returns November 2026 appeared first on Gaming and Gambling Industry in the Americas.
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