New Jersey Online Casinos Achieve Record-High Revenue in December 2023

Quick Intro

New Jersey’s online casinos closed 2023 on a high note, reaching an all-time monthly revenue record of $180.3 million in December. This historic milestone for the state’s iGaming sector marks the first time revenues have exceeded $180 million, showcasing a significant 7.8% increase from December 2022.

The cumulative revenue for New Jersey’s casinos in December, encompassing online platforms, retail gaming, and sports betting, hit a total of $232.4 million.

Significant Revenue Growth for Tropicana and Hard Rock Online Casinos

In New Jersey’s competitive iGaming landscape, where eight casinos operate online, six have reported year-over-year revenue growth. Tropicana Atlantic City and Hard Rock Hotel & Casino Atlantic City led this surge, showcasing substantial gains in their online casino revenues.

Retail Casinos and Sports Betting Enjoy Robust Revenue Growth

The New Jersey Division of Gaming Enforcement’s data from December 2023 paints a prosperous picture for the state’s retail casinos and sports betting sectors. The nine brick-and-mortar casinos in New Jersey generated $232.9 million in revenue, a noticeable increase of around $17.5 million from November and 7.8% more than the $215.6 million earned in December 2022.

Revenue from sports betting, encompassing both in-person (at casinos and racetracks) and mobile platforms, reached a remarkable $109.4 million. This figure shows a 14.1% rise from November and a 24.8% jump compared to December 2022.

2023 Marks a Record Year in Total Gaming Revenue

In 2023, New Jersey’s casinos, racetracks, and associated partners generated an impressive $522.2 million in combined retail and mobile gaming revenue. This amount represents a nearly $40 million increase from November and almost $68 million more than in December 2022.

Overall, the state’s gaming revenue for the year stood at a remarkable $5.78 billion, marking a $570 million (10.9%) increase from 2022, solidifying a year of substantial growth for New Jersey’s gaming industry.

 

The Impressive Surge of New Jersey’s Gaming Sector

2023 was a landmark year for New Jersey’s gaming sector, witnessing record-breaking revenues across online casinos, retail gaming, and sports betting. The sustained growth and profitability of the industry reflect the state’s robust regulatory environment and the increasing popularity of iGaming and sports betting among consumers.

Final Thoughts

New Jersey’s gaming sector’s remarkable performance in December 2023, culminating in a record-breaking year, highlights the state’s successful and thriving gaming industry. The continuous revenue growth across all gaming platforms underscores the sector’s vital role in New Jersey’s economy.

Source: https://www.nj.gov/oag/ge/docs/Financials/PressRelease2023/December2023.pdf