New Jersey’s June Gambling Revenues Soared, Golden Nugget on Top
New Jersey’s gambling sector is experiencing a significant surge. Online casinos are outpacing the record-setting performance of 2022 in the first half of this year, according to the latest figures from the New Jersey Division of Gaming Enforcement, or NJDGE.
In total, state online gambling operators generated nearly $149.3 million in revenue in June, marking a 12.1% year-over-year increase from June 2022.
The total revenue for online casinos in the first half of the year exceeded $930 million, a 14% increase compared to the same period in 2022.
“Gains in all three reported areas — casino win, internet gaming win, and sports wagering revenue — demonstrate that online and traditional gaming are a winning combination,” said James Plousis, chair of regulator New Jersey Casino Control Commission, to The Press of Atlantic City.
Online Casinos Lead the Way
The online casino sector now accounts for more than 37.6% of the total gaming revenue in the Garden State.
Atlantic City casinos contributed 54.8% to the state’s total in June, which was the lowest percentage in the decade since online gambling was legalized in New Jersey.
Meanwhile, the state collected $22.3 million in taxes from online gambling in June, raising revenues to a total of $139.6 million for the entire year so far.
Despite the monthly online gambling revenue being lower than May’s $161.4 million and March’s all-time high of $165.7 million, it has consistently remained above $140 million throughout 2023.
The Golden Nugget Atlantic City and its online partners, including BetRivers and BetWay, reported $41.8 million in June. That made it the newly crowned most popular operator in New Jersey for June.
Individual operator statistics are not reported by the NJDGE. But operators are put together based on their online or offline partnerships.
Land-Based Casinos Show Improvement
Land-based casinos are also showing positive signs.
Total revenues for the nine casino resort properties were $241.6 million for June 2023, reflecting an increase of 5.4% on the $229.1 million figure for June 2022.
The Borgata managed to retain its top spot for in-person gaming revenue, winning more than $60.5 million. Thus, the Borgata accounted for about a quarter of the land-based casino revenue in New Jersey during June.
The state’s total gaming revenue, reported by casinos, racetracks, and their partners, was $457.2 million for June 2023. That reflects a 13.9% increase from $401.5 million reported in June 2022. For the year-to-date, the total gaming revenue was $2.73 billion, reflecting a 12.1% increase from $2.43 billion reported in the prior period.
As gambling in New Jersey continues to grow, the competition among online casino licensees is heating up. Golden Nugget, for instance, powered its way to the top in June, ending Borgata’s dominance.
Despite the impressive performance of online casinos, the state’s land-based casinos are not to be overlooked. With a 5.4% year-over-year improvement in June, Atlantic City’s eight casinos are showing promising signs of growth.
With operators like MGM pouring tens of millions into renovations, and the city attempting to diversify its gambling-based economy with more family friendly venues, things are looking up for the Boardwalk as we head through the summer.