Conor Porter is an iGaming and gambling industry journalist covering global casino and sports betting markets. His reporting focuses on industry news, regulation and commercial developments shaping the sector.
Read Full BioNew Jersey gaming revenue increased by almost 13 per cent in August in comparison to the previous year, as all verticals saw improvements year-over-year.
Data from the New Jersey Division of Gaming Enforcement stated that total gaming revenue from the Garden State’s casinos, racetracks and their partners in August amounted to $531.6m. This figure was a 12.9 per cent increase on the previous year (August 2022: $470.7m).
For the year-to-date, total gaming revenue currently stands at $3.77bn, up 11.2 per cent YoY (2022: $3.38bn).
New Jersey’s nine casino hotel properties led the way in terms of contribution towards August’s revenue total with $280.3m, followed by igaming with a win of $155.3m and sports wagering with gross revenue of $96m.
August’s casino revenue of $280.3m was a 2.3 per cent uptick in comparison to the previous year (2022: $274m). YTD, casino revenue currently stands at $1.93bn, once again a 2.3 per cent increase YoY (2022: $1.88bn).
Slot machine win generated $210.5m towards the casino total for August, up 3 per cent YoY (2022: $204.3m), while table games amounted to $69.7m, a slight improvement on the previous year (2022: $69.6m).
Vici Properties-owned and MGM Resorts-operated Borgata was the best-performing casino during the month in terms of revenue with $73m, up 1.5 per cent YoY (2022: $72m), followed by Hard Rock with $50.7m, a 10.7 per cent increase (2022: $45.8m), and Ocean Casino with $39.5m, an 8.1 per cent improvement (2022: $36.6m).
Four casinos reported YoY revenue losses during August. Bally’s was down 4.6 per cent to $15m (2022: $15.7m), Harrah’s decreased by 1.8 per cent to $24.5m (2022: $25m), Resorts dropped by 4.6 per cent to $17.6m (2022: $18.5m), and Tropicana declined by 4.4 per cent to $24.7m (2022: $25.9m).
August’s igaming revenue of $155.3m was an 18.1 per cent improvement on the previous year (2022: $131.4m). YTD, igaming revenue currently stands at $1.24bn, a 14.6 per cent uptick YoY (2022: $1.08bn).
Resorts Digital led the way in terms of igaming revenue with $42.3m, a 37.6 per cent increase YoY (2022: $30.7m), followed by Golden Nugget with $40.8m, up 30 per cent (2022: $31.4m), and Borgata with $40.2m, down 3.8 per cent (2022: $41.8m). No other operator made more than $10m in revenue during the month.
The month’s sports betting gross revenue of $96m was a 47.1 per cent increase in comparison to the previous year (2022: $65.3m). YTD, sports betting gross revenue stands at $597.9m, a 42.7 per cent uptick (2022: $418.9m). The total sports wagering handle for August in New Jersey was $725m, with $697.1m coming from online operators.
Resorts Digital/DraftKings/FoxBet earned the most revenue during the month with $56.9m, up 345.1 per cent YoY (2022: $12.8m), followed by Meadowlands/FanDuel/PointsBet with $25.7m, down 22.5 per cent (2022: $33.2m).
For August, New Jersey gaming operations paid $53.39m to the state in taxes.
