New Jersey sets new record for internet gaming win at $213.6m for October 2024

For in-person gambling revenue, only Tropicana and Caesars reported increases from the prior year period.

The New Jersey Division of Gaming Enforcement has released the state’s gaming revenue figures for the month of October, including an increase in total revenue primarily driven by another record set in internet gaming win. 

The state reported an internet gaming win of $213.6m, surpassing the record set during September after New Jersey generated $208m throughout the month. The figure also represents a 28.1% increase from the prior year period, while year-to-date internet gaming win was reported to be $1.95bn through October. 

Nearly every casino resort in New Jersey managed to see increases in total revenue once internet gaming win and sports betting money was included, as only Ocean Casino Resort and Harrah’s reported decreases at 19% and 10.6%, respectively. Borgata was able to generate $106.1m in total revenue during October for a 5.8% year-over-year increase, while Golden Nugget reported the largest increase from the prior year period at nearly 25% for a total of $76.7m. 

Casino win and sports wagering gross revenue both reported decreases in revenue, however, as sports wagering fell by 16% year-over-year for a total of $77.5m and casino win decreased by 8.5% to account for $208.7m of total revenue during October 2024. 

The $499.8m in total revenue still represents a 2.6% increase year-over-year, though, but signs are seemingly pointing to bettors preferring to do so online rather than in-person. 

For in-person gambling revenue, only Tropicana and Caesars managed to report increases in revenue from the prior year period. Tropicana grew by 7.4% for a revenue total of $17.6m during October 2024, while Caesars won just under $15m for an increase of 4.1% year-over-year. 

Good to know: Lawmakers in New Jersey were said to be considering placing a ban on props betting following recent reports of student athlete harassment 

The biggest difference between preferred methods of betting could be seen at the Golden Nugget, as the property saw the biggest increase in revenue driven by internet gaming win, but also the largest decrease for in-person gambling revenue.

Golden Nugget reported a decrease of over 20% from the prior year period, generating $9.6m for in-person gambling revenue during October. Borgata accounted for the highest revenue from in-person gambling, reported to be $53.4m during the month, but a decrease of 6.1% from the prior year period. 

New Jersey reported a sports wagering handle of over $1.1bn for October, with online sports wagering accounting for over $1.08bn of the handle generated. 

Slot machine win continued to be the biggest driver of casino win with a revenue of nearly $159.9m, but the figure still represents a decrease of 1.9% year-over-year. Table game win fell by 25% from the prior year period, reported to be just over $48.8m throughout the month of October.

Kirk Geller

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