New Jersey gaming continued to undergo growth in the first month of 2023, with year-over-year revenue increases occurring across all verticals.
Posting January’s figures on its website, the New Jersey Division of Gaming Enforcement (NJDGE) declared total gaming revenue – casinos, racetracks, and their partners – of $436.m, a 14.5% improvement year-over-year (Jan. 2022: $381.7m).
However, the Garden State’s total gaming revenue for the month was behind December’s figure of $454.8m.
Per vertical, sports betting revenue continued to be the leader in terms of YoY growth, but casino win and igaming win weren’t too far behind.
The NJDGE stated that sports wagering gross revenue grew by 20.2% YoY to $72.3m, casino win improved by 15.3% to $211.7m, while igaming win rose by 10.9% to a new monthly record of $152.9m.
January’s sportsbook revenue of $72.3m (Jan. $60.2m) came off a handle of $1.08bn, with online operations contributing $1.02bn towards that total.
While New Jersey’s sports betting revenue continues to see YoY improvements, the vertical’s total handle hasn’t seen any YoY growth since April 2022, most likely due to the neighboring New York online sports betting market going live in January last year.
Per operator, Meadowlands/FanDuel/PointsBet was the state’s top sportsbook in terms of revenue with $47.7m (2022: $38.4m), followed by DraftKings/Resorts Digital/FoxBet with $12.7m (2022: $10.17m), and Borgata/BetMGM with $6.78m (2022: $4.85m).
No other Garden State sportsbook earned revenues of more than $2.2m during January.
New Jersey’s casino revenue of $211.7m from its nine casino properties was a 15.3% improvement YoY (2022: $183.6m).
Broken down, slot machines produced revenues of $151.8m (2022: $129.1m), while table game revenues generated revenues of $59.9m (2022: $54.6m).
Borgata was the top casino operator in terms of revenue for January with $58.4m (2022: $48.4m), followed by Hard Rock with $35.9m (2022: $34.7m), Ocean Casino with $30.5m (2022: $34.7m), Caesars with $16.8m (2022: $16m), and Tropicana with $16.3m (2022: $14.5m).
The NJDGE declared that the state’s igaming operations reported revenues of $152.9m in January, a 10.9% improvement YoY (2022: $137.8m).
Only three operators achieved revenues of over $9m. Borgata led the way with revenues of $40.8m (2022: $39.1m), followed by Golden Nugget with $40.6m (2022: $36.5m), and Resorts Digital with $40.2m (2022: $33m).
For January, the Garden State’s gaming operators paid $45.4m in state taxes.