New Jersey May results: Online gaming up 19%
Total revenue for gaming in the Garden State was up 8.3% to $510m.
The New Jersey Division of Gaming Enforcement (NJDGE) has released its financial results for May 2024. In total, gaming in the Garden State generated $510m, up 8.3%, or $39m, year-over-year.
In the year so far, total gaming revenue has totaled $2.57bn, up 13.1% year-over-year when compared to the first five months of 2023.
Casino gaming
Casino gaming accounted for 46.9% of the gaming revenue made in New Jersey in May, making $239.1m, up 5.2% year-over-year. Of this, $181.3m was made from slot machine win (up 4.8%), while the remaining $57.9m was made from table game win (up 6.4%).
Online gaming
In the internet gaming segment, peer-to-peer gaming was down 8.2%, making $2.2m to last year’s $2.4m. Other authorized games saw revenue grow 19.4% year-over-year, making $189.9m, or 98.9% of the segment’s total revenue.
In total, internet gaming made $192.1m in May, up 19% year-over-year.
Sports wagering
Sports wagering revenue declined by 4.2% year-over-year in May, making $78.8m. Despite this, sports wagering revenue for the year so far is reportedly up 37%, making $513m compared to last year’s $374.5m.
Sports wagering handle came to $838.9m in May. Of this, $801.5m came from online sports wagering, while the remaining $37.5m came from retail wagers.
Revenue by casino
Breaking down the Garden State’s gaming revenue by casino operator, the highest revenue was generated by Borgata, which made $110.9m in May. This result is relatively stagnant compared to this time last year, when revenue was reported at $111.3m reflecting a decline of 0.3%.
The most significant year-over-year revenue increase among New Jersey’s casino licensees was reported by Hard Rock, which saw revenue grow by 32.6% to $63.9m. This was followed by Golden Nugget at 21.2% (making $68.2m) and Resorts Digital at 17.6% (making $71.4m).
On the other end of the spectrum, Caesars Interactive NJ saw its May revenue decrease sharply year-over-year, down 96% to $332,123. However, it must be noted that three of the operator’s internet gaming skins shifted to Tropicana on April 1 2024, accounting for this decline.
Beyond this, the most significant year-over-year revenue decline was reported by Caesars, down 4.9% to $17.6m. This was followed by Resorts at –0.4% (making $13.5m) and Borgata at -0.3%.
In total, casino licensees in New Jersey made a total of $467.2m, up 10.3%. This accounts for 91.6% of the state’s total. Furthermore, $49m was generated in total tax.
Revenue by racetrack
The three racetrack licensees in New Jersey, consisting of Freehold Raceway, Meadowlands and Monmouth Park, made $42.7m in May, reflecting a decline of 10.1%. The largest contribution was made by Meadowlands, which made $38.3m, while Monmouth Park made $1.4m. This reflects a year-over-year decline of 12.8% and 27.8% respectively.
Surprisingly, Freehold Raceway saw its revenue increase sharply, making $3m for an increase of 83.5%.
In total, tax from racetrack licensees in May came to $5.5m.
Tags/Keywords
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
