New Jersey gaming revenue hits $487.1m, sports betting up 18%

November 20, 2023
By

Though iGaming made $166.8m and increased by 13.3%, sports betting has seen the most significant increase and reached $92.3m.

The New Jersey Division of Gaming Enforcement has released its October financial results, showing a 9.3% yearly increase to $487.1m (neighboring Pennsylvania has reported a similar October total of $483m). Year to date, the Garden State has made $4.8bn, a 10.6% increase from this period in 2022.

Year-on-year, total gaming revenue in New Jersey has increased for the last six months between $25.5m and $60.9m.

Land-based casinos generated the most revenue, with $228.1m (up 3.4% annually), coming from just over $163m made by slots (down 1.9%) and $65.1m made by table games (up 19.7%).

The casinos that brought in the most revenue were: the Borgata with $56.9m (down 8.9% year-on-year), Ocean Casino with $43.4m (up 53.3%) and Hard Rock Atlantic City with $41.2m (up 5.8%).

The state’s iGaming win reached $166.8m, or 2.3% more than land-based slot machines made. This figure is up 13.3% year-on-year and represented 34% of the state’s total gaming revenue this October. Pennsylvania also saw iGaming increase to represent around 32% of its October gaming revenue total.

Sports wagering brought in $92.3m, up 18% and much higher when compared to Pennsylvania’s $48.2m October sports wagering revenue. The operator with the highest sports wagering revenue was Meadowlands Racetrack (FanDuel) with $60.2m, followed by Resorts Digital with $15.3m and the Borgata (BetMGM) with $7.8m.

Handle in the Garden State reached $1.3bn total, with $1.2bn online and $56.3m at retail locations. The sport with the highest handle year to date is basketball with $1.97bn, which has made a year-to-date win of $73.8m. Baseball, however, has the highest year-to-date win of $121.5m and a year-to-date handle of $1.6bn.

Year to date, iGaming has made $1.6bn (an annual increase of 15.1%) while casinos have brought in $2.4bn (an annual increase of only 1.9% by comparison). Sports wagering has seen the largest overall year-to-date increase of 34.7% to $801.3m.

State-by-State

Product Spotlight

Konami

Things get unruly in the company of some fleecy characters in the new Konami Gaming’s new Unwooly Riches slot series.
GA HUDDLE #089

Brian Uran - AI has shown casinos new ways to think about business

GA HUDDLE #088

Adam Wexler: PrizePicks almost went out of business during Covid - but now...

Roughly six years after speaking to Gambling Insider as an upcoming start-up, PrizePicks CEO Adam Wexler joins the Huddle to reflect on huge growth since - which almost ground to a halt during the Covid-19 pandemic.

We cover:

- Entrepreneurship, regulatory changes and the pandemic

- Offering a different customer experience and differentiating by product

- Fantasy sports being strong enough without sports betting

- Barriers to entry in the fantasy market

- Opposition from FanDuel and DraftKings

- Targets, plans and the Philippines

- US markets and the future of fantasy


Five years ago, before the mass proliferation of social media we see today – and even before the Covid-19 pandemic – I think you would be hard pressed to find a CEO talking about “Instagrammable moments.” KPIs w...

gga
The Global Gaming Awards: Looking ahead to 2024's ceremonies.
After more than a decade of celebrating gaming's best, Gaming America looks ahead to a bright 2024 for the Global Gaming Awards in the Americas and Asia-Pacific.
GA
From the top: The Indian Gaming Tradeshow & Convention
Tribal gaming is a uniquely American institution and all its uncommon attributes were on display this April at the Indian Gaming Tradeshow & Convention in Anaheim, California.
terre
Review: Terre Haute Casino Resort and Harrah's Hoosier Park Racing & Casino
Terre Haute Casino Resort vs. Harrah's Hoosier Park Racing & Casino, Gaming America's Laura Mack reviews each property.
andrew
Eureka Casino interview: CEO Andre Carrier on resort expansion
We spoke with returning guest, CEO Andre Carrier, about Eureka Casino Resort's expansion. He aims to not only change the look and feel of the casino, but to also build residential housing around it.