The New Jersey Division of Gaming Enforcement recently released the latest revenue figures for gambling in New Jersey.
Article Highlights:
- Land-based Casino Revenue in NJ
- NJ Online Casino Revenue
- Total Online Gambling Revenue
Revenue figures for gambling in New Jersey provide valuable information about market changes. It’s nearly a decade since online casinos joined the industry, which continues to multiply while land-based casinos struggle to recover.
The latest revenue information provides essential insight into how the market changes for the land-based and online casino industry.
Land-based Casinos in NJ Show Growth in June 2023
The nine land-based casinos in New Jersey face difficulty upwind while recovering after the pandemic. Despite possible smoking bans and the threat of the growing online industry, casino revenue in the state is rising, but slowly.
In June 2023, land-based casinos collected $241.6 million in revenue, showing a growth of 5.4% compared to last year. Looking at the year-to-date figures, on the other hand, the first six months of 2023 – collecting $1.36 billion – show a growth of just 3.5% compared to the $1.31 billion generated in 2022.
Online Casinos Continue to Grow Rapidly
While June might not be another record-breaking month for online casinos in the state, there’s no denying the massive increase.
Online casino partners collected $149.3 million in June 2023, an increase of 12.1% compared to the $133.1 million generated in June 2022.
The year-to-date figures reveal similar growth, collecting $930.8 million during the first six months of 2023, while the same period accumulates to $814.5 million during 2022, a 14.3% growth.
An Impressive Overall Increase for NJ Gambling Revenue
In addition to land-based and online casino revenue in New Jersey, sports betting is essential in the drastic increase. Last month bookies, casinos, and partners collected $66.4 million in revenue, an astonishing 69.1% more than the $39.2 million in 2022.
The total gambling revenue for June 2023 adds up to $457.2 million, showing a 13.9% growth compared to June 2022, during which the industry generated $401.5 million.
Year-to-date figures show an increase of 12.1% as the industry generated $2.73 up to June 2023 compared to the $243 billion during the same period last year.
More Important Casino News in NJ
Compared to the incredible performance of sports and iGaming, land-based casinos aren’t keeping up, growing at less than half the rate. Continue reading more of the latest news articles for more details.
