New Jersey: land-based struggles offset by igaming & sports wagering

New Jersey continues to accelerate towards yet another record breaking year, as September’s financial figures highlight that igaming and sports wagering increases have once again offset a land-based decline.

Total gaming revenue reported by casinos, racetracks and their partners through September came in at $521.5m, up 7.5 per cent year-on-year from $485m. For the year-to-date, the region closed at $4.29bn, which is 10.8 percentage points ahead of $3.87bn.

Figures released by the region’s Division of Gaming Enforcement show that online casinos and poker rooms are up 21.1 percentage points to close the month out at $163.8m (2022: $135.2m). For the nine months of the year thus far, igaming is 15.4 per cent ahead at $1.41bn (2022: $1.22bn).

However, the chasing pack have finally succeeded in toppling the long standing leader within the Garden State, as Resorts Digital took top spot. This is courtesy of a 32.9 per cent uptick to $45.43m (2022: $34.19m).

This saw the online entity narrowly edge out Golden Nugget’s $45.12m, up 32.1 per cent from $34.16, with Borgata down two places to third after revenue closed the month at $41.57m, up 1.1 per cent from $41.11m.

Despite the maintained online optimism, the land-based gaming ecosystem continues to slide, with September down 2.1 per cent to $246.5m (2022: $251.7m). For the YTD, the nine casino properties still sit slightly ahead at $2.17bn, a 1.8 per cent rise YoY from $2.13bn.

Borgata wasn’t edged out here, with revenue of $54.27m, down 12.9 per cent from the previous year’s $62.33m, enough to remain at the summit.

Hard Rock trailed once again, but remained some way back despite rising 7.3 per cent to $46.84m (2022: $43.67m), while Ocean Casino rounded off the top three with $39.52m, a 29.2 per cent increase YoY from $30.59m. 

Per casino vertical, slot machines recorded revenue of $182.7m, down two percentage points, while table games earned $63.81m, a drop of 2.2 per cent from the $65.26m recorded one year earlier.

In addition, the region’s sports wagering handle closed the month at $1.29bn, with online contributing $1.25bn of that figure. The state’s sportsbooks gained $111.14m in September gross revenue, which is up 13.4 per cent YoY from $97.98m. For the year, sports betting is 37.2 per cent ahead at $709m (2022: $516.91m).

Looking at the monthly figures a little closer, Resorts Digital came out on top with revenue of $49.85m (2022: $22.41), ahead of Meadowlands’ $34m (2022: $46.64m) and Borgata’s $11.54m (2022: $10m).