In New Jersey, the gambling landscape is undergoing a significant transformation and shift away from in-person gambling, as evidenced by the record-breaking performance of internet gambling and sports betting in November.
In November 2023 the state’s casinos, in collaboration with their technology partners, have successfully generated over $171.5 million through online table games and slots, as reported by the New Jersey Division of Gaming Enforcement.
Concurrently, a remarkable total of $1.62 billion in bets were placed in November at the casinos and the three horse tracks licensed for sports betting, setting another record in the industry. This surge in online gambling and diverse betting options marks a pivotal shift in New Jersey’s gambling scene, traditionally dominated by in-person betting at physical casinos. These latest figures are a clear indication of the evolving preferences and habits of gamblers in the state.
In November, the combined revenue from in-person, online, and sports betting by New Jersey casinos and three racetracks amounted to $482.4 million, marking a 9.4% increase from the previous year.
The Golden Nugget led the online gambling sector with over $50 million in revenue, a 33% increase from last year. Other notable online earners in New Jersey included Resorts Digital with $47.2 million (up over 26%) and the Borgata with nearly $38 million, though the latter saw a 14.4% decrease.
In overall gambling revenue, Borgata was the market leader with over $97 million, despite an 8.6% decline. Golden Nugget’s revenue increased nearly 25% to $61 million, Hard Rock rose over 26% to $52.4 million, and other casinos also showed varied performances. Focusing solely on in-person gambling, Borgata led with $51.6 million, down 6.1%, while Hard Rock’s revenue increased by 16.7% to $41.4 million. Other casinos showed mixed results, with some experiencing growth and others witnessing declines.
November saw a record-setting surge in sports betting in New Jersey, with the total handle (amount wagered) reaching an unprecedented $1.62 billion. However, after payouts and other expenses, the casinos and racetracks in NJ retained only $96 million in revenue.
The Meadowlands Racetrack, located near New York City and famous for its FanDuel sportsbook, was the most profitable, earning $57.6 million of that revenue. Resorts Digital, partnered with DraftKings, also had a strong performance, securing over $19 million from sports betting.
Global iGaming Analyst based in New York City. Jenny's work can also be found at GamblingIndustryNews.com & PokerIndustryNews.com.
