Home NewsCasino New Jersey revenue to reach $5.78bn in 2023, a new record high

New Jersey revenue to reach $5.78bn in 2023, a new record high

30 views 3 minutes read

The gambling revenue of New Jersey has reached a record high in 2023 at $5.78bn. (PS4.59bn/EUR5.32bn), driven by record-breaking performances in igaming, sports betting and online gaming.

The total revenue for 2023 is expected to increase by 10.9% compared with the $5.21bn of last year. New Jersey Division of Gaming Enforcement, NJDGE, noted that all three of its core markets had grown.

New Jersey’s gambling revenues are dominated by land-based casinos. They accounted for 2,85 billion dollars of total revenue, an increase of 2.2% year on year.

Table games revenue fell 0.7%, to $736.2m. Retail slot revenue increased 3.3% at $2.11bn. Table games were the only segment of the casino market that reported lower revenues in 2023.

New Jersey igaming revenue nears $2.00bn

Igaming revenue reached $1.92bn, a record high and 15.7% more than 2022.

The revenue from online slots increased 15.9%, to $1.89bn. Meanwhile, peer-to-peer gaming revenues increased by 5.6%, to $28.9m.

Golden Nugget topped the market for igaming with $524.8m of revenue in 2018. Resorts Digital was second, with $507.8m. The Borgata came in third at $489.9m.

For the first time, sports betting revenues exceed $1.00bn

New Jersey also had some good news in the sports betting sector. Revenues here reached a record high of $1.0bn for the year, an increase of 31.9% over 2022. This was the first time that the state exceeded the $1.00bn threshold.

The state’s players spent more money, which helped. In 2023, bettors placed $11.97bn in sports wagers. This is up by 9.5% compared to the $10.93bn handled annually in 2022. Online, bettors wagered $11.44bn and retail bookmakers $527.8m.

Meadowlands, along with partners FanDuel and PointsBet were first place winners in the revenue race. DraftKings, Resorts World and BetMGM were the next two with $314.5m and $82.7m respectively.

New Jersey finishes 2023 with a strong December performance

In December 2023, the total revenue for all markets was $522.2m. This is a 14.8% increase.

The total amount of money won by land-based casinos increased 7.8%, to $232.4m. The increase was primarily due to a jump of 13.9% in slot revenue, which reached $175.3m. Table games revenue, however, fell by 7.3%, to $57.1m.

Igaming revenues increased 19.1% in December, to $180.3m. Internet slot revenue increased 19.3%, to $178.0m. Peer-to-peer Poker revenue also rose 4.7%.

Golden Nugget led the industry in igaming revenue in December, with $52.8m. Resorts Digital came in second with $46.1m and then Borgata was third at $40.6m.

Sports betting revenue grew by 24.8%, to $109.4m. The 20.8% increase in the handle, which reached $1.28bn, was a major factor. In addition to the $50.5m wagered at retail, players bet $1.23bn on-line during this month.

In December, Meadowlands’ trio of partners topped the market with a combined revenue of $51.1 million. DraftKings and Resorts World came in second with $34.8m. This was a considerable amount ahead of Borgata and BetMGM, who were third at $7.1m.

You may also like

About Us

On iGamingWorld, we provide in-depth analysis, the latest news and opinions from famous people of the gaming industry.

Featured Posts