New Jersey gambling revenue sees 10.4% increase in February
The New Jersey Division of Gaming Enforcement have announced its February 2023 total gaming revenue results.
The New Jersey Division of Gaming Enforcement (NJDGE) has published its results for February, showing a total revenue increase of 10.4%. The Garden State has experienced an increase in revenue from both land-based and online casinos, horseracing and sports betting.
Total gaming revenue reported by casinos, racetracks and their partners was $412.2m.
The nine casino hotel properties in New Jersey reported $215m for February 2023, reflecting a 1.2% increase in land-based revenue compared to this time last year. The year-to-date 2023 casino win currently sits at $426.6m, reflecting a growth of 7.7% from the prior industry period. However, only three casinos won more from in-person gambling than they had in 2019 – Borgata Hotel, Hard Rock and Ocean Casino Resort – all located in Atlantic City.
Internet gaming has also experienced a large increase, up 9.7% from February 2022, reaching $142.6m. The year-to-date online figures have already reached $295.5m, compared to a previous total of $267.8m for January and February last year.
Sports wagering revenue showed the highest yearly increase of any gaming market by far with a 76.9% increase reported by casinos and racetracks, reaching $54.6m for February. Meanwhile, a year-to-date increase of 39.4% puts New Jersey’s sports betting revenue for the year so far at $127m.
Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies Atlantic City gambling, said, “The addition of two new casino resorts to the established seven has disrupted market share. The local market pie has grown, but the way that pie is cut has changed, shifting in favor of the newest entrants to the market.”
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