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New Jersey Closes Another Month with New Internet Gambling Record

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New Jersey Closes Another Month with New Internet Gambling Record

ATLANTIC CITY, N.J. — New Jersey’s booming online gambling sector has set new records for the month of November, as physical casino revenues still struggle to return to pre-pandemic figures across six out of Atlantic City’s nine establishments, according to data released on Monday.

The New Jersey Division of Gaming Enforcement reported that internet gambling generated slightly over $214 million last month, just surpassing the previous record of $213 million established in October.

James Plousis, chairman of the New Jersey Casino Control Commission, indicated that the ongoing success of online gaming and sports betting has significantly contributed to achieving the best monthly gaming revenue results for November in over ten years.

However, the strong performance in online gambling may not necessarily translate to good news for the physical casinos, as they must distribute a large portion of their online and sports betting profits with affiliated sportsbooks and technology providers.

For this reason, in-person gaming is deemed the cornerstone of the casino industry, and that segment has experienced challenges over recent years.

Interestingly, the overall revenue from in-person gaming matched the pre-pandemic total of $223.9 million for November, but only three casinos—Hard Rock, Ocean, and Resorts—saw their earnings from in-person gamblers exceed those of November 2019, prior to the pandemic outbreak.

The rise in internet gambling reflects a pattern that has been growing in New Jersey for several years and was notably accelerated by the pandemic, which had compelled casinos to shut down for more than three months in 2020. This shift toward online gaming has continued even as physical establishments reopened.

The internet revenue of $214 million represented nearly a 25% increase compared to the previous year.

Jane Bokunewicz, the director of the Lloyd Levenson Institute at Stockton University, noted this is the third consecutive month where New Jersey’s internet gambling revenue has exceeded the $200 million mark.

When taking into account both internet and sports betting revenue, casinos, two racetracks that handle sports wagering, and their tech partners combined to generate $556 million in November, climbing 15.4% from last year, bolstered by two extra weekend days compared to November 2022.

Borgata Casino earned a total of $122.6 million in November, marking a more than 25% increase from a year prior. Resorts accumulated nearly $101 million, a rise of almost 28%; Golden Nugget reached about $77 million, up 26%; Hard Rock pulled in $63.5 million, a gain of over 21%; and Ocean recognized $39.8 million, an 8.6% uptick. Bally’s secured $24.5 million, a rise of over 24%; Harrah’s garnered $18.5 million, a decrease of 4.4%; Tropicana earned $16.6 million, down 7.3%; and Caesars recorded $16.5 million, decreasing by 7.4%.

In the realm of in-person gaming revenues alone, Borgata garnered $57.5 million, up 11.4% from last year; Hard Rock won $44.3 million, an increase of 7.1%; Ocean attained $34 million, up 8.2%; Harrah’s took in $18.5 million, down 5.6%; Tropicana earned $16.7 million, a decrease of 6.6%; Resorts collected $13.9 million, increasing nearly 12%; Golden Nugget accrued $11.7 million, an uptick of 6.7%; and Bally’s received $10.8 million, which was a decline of 10.3%.

Sports betting accounted for nearly $119 million in revenue generated from $1.2 billion in wagers.

The Meadowlands Racetrack, located just outside New York City, generated $50.5 million in sports betting revenue, reflecting a 12.3% decline compared to the previous year. The venue operates a FanDuel sportsbook.

Resorts, which partners with DraftKings, reported nearly $38 million in sports betting revenue in November, nearly double the earnings from a year ago.

Monmouth Park in Oceanport, close to the Jersey Shore, saw $2.5 million in sports betting revenue, marking a remarkable 163% increase from the previous year, largely aided by the recent shutdown of a competing track’s sports betting operations in the same county, Freehold Raceway, which is set to close by the end of this month.