New Jersey casinos achieve revenue uptick YoY in November

New Jersey

New Jersey’s total gaming revenue saw a subtle year-over-year gain once more in November, with casino operations also witnessing YoY increases.

Meanwhile, igaming win stayed close to the historic numbers achieved in October, but sports betting continued to see revenue declines compared to the previous year.

The New Jersey Division of Gaming Enforcement has reported a total gaming revenue – casinos, racetracks, and their partners – for November of $441.1m, a 0.3 per cent YoY rise from the $439.6m reported in the same month last year. 

For year-to-date, total gaming revenue currently stands at $4.76bn, a 9.8 per cent gain on the $4.33bn reported in the same period the prior year.

Per vertical, casino and igaming operations underwent YoY upticks in November thanks to table games growth, while sports betting revenue dropped compared to the previous year.

For the Garden State’s nine casino operations, the NJDGE declared revenues of $214.6m for November 2022, a 3.7 per cent YoY improvement (2021: $206.9m). Slot games earned revenues of $156.7m while table games achieved revenues of $57.9m. YTD, casino revenues stand at $2.57bn, a growth of 9.7 per cent YoY (2021: $2.34bn).

Per casino operator, Borgata led the way with $55m (2021: $48.3m), followed by Hard Rock with $35.5m (2021: $37.3m), and Ocean Casino with $30.9m (2021: $28.5m).

Igaming revenue increased by 23.9 per cent YoY in November to $146.2m (2021: $118m), just shy of the monthly revenue record of $147.2m set in October. YTD, igaming revenue currently stands at $1.51bn, a 22.5 per cent YoY uptick (2021: $1.23bn).

Per operator, Borgata stayed in first place with $44.3m (2021: $33.7m), followed by Golden Nugget with $37.7m (2021: $31.7m), and Resorts Digital with $37.3m (2021: $27.8m).

With a November handle of $1.1bn – second highest monthly handle in 2022 with $1.03bn from online operations – New Jersey’s sportsbooks reported gross revenues of $80.4m for the month, a 29.9 per cent YoY decline (2021: $114.8m). YTD, sports wagering gross revenue stands at $675.3m, a 10.8 per cent fall YoY (2021: $756.7m).

Per operator, Meadowlands/FanDuel/PointsBet remained New Jersey’s top sportsbook with $48.7m (2021: $64.4m), followed by DraftKings/Resorts/FoxBet with $16.6m (2021: $15.9m) and Borgata/BetMGM with $7.67m (2021: $7.77m).

For November, the Garden State’s gaming operators paid $45.8m in taxes, bringing the total amount paid in state taxes for the year so far to $478.7m.