New Jersey’s gaming market took a step back in February after a strong start to the year.
The New Jersey Division of Gaming Enforcement (DGE) reported $461.5 million in total gaming revenue from casinos, racetracks, and their partners in February, a 12% increase year-over-year. New Jersey’s retail casinos spearhead the results during the month with $211 million in wins, down from $214.9 million for the same month in 2023. Last month’s slot machine win was $158.8 million, which was flat compared to February 2023’s results.
New Jersey is home to nine casino hotel properties, which have netted $416.3 million in wins in the year-to-date, which is a 2.6% decline compared to the same period last year.
Borgata posted the highest casino win in February at $53.6 million, which was a 6.7% decline compared to the same month in 2023. Hard Rock closed with the second-highest casino win in February 2024 at $41.1 million, up from $37.5 million in February 2023.
Despite the year-over-year growth in February, the results were down from January. That month, New Jersey reported $559.1 million in total gaming revenue behind a robust sports calendar.
Growing online casino market in New Jersey
The Garden State is one of seven regulated iGaming markets in America. New Jersey reported $182.3 million in iGaming win in February 2024 compared to $142.6 million in February 2023. In the year-to-date, iGaming win has reached $365.6 million compared to $295.5 million for the prior year-to-date period.
New Jersey added to its portfolio of iGaming operators in January with the debut of Jackpocket Casino in the state. The platform, which offers access to hundreds of casino games, became the first U.S.-based lottery platform to enter the regulated iGaming market.
New Jersey’s sports betting market
The Garden State posted a $1 billion total sports betting handle in February 2024, up from $847 million for the same month last year. The handle, which was led by online wagering, generated $67.5 million in revenue in February, a 23.7% increase year-over-year.
The Meadowlands, which partners include FanDuel and SuperBook, reported $35 million in revenue during the month, a 9.3% increase year-over-year. DraftKings partner Resorts Digital finished with $24.2 million in revenue compared to $12.2 million in February 2023.
Bally’s closed February 2024 with a $364,682 loss, up from $83,738 in February 2023.
In the year-to-date, New Jersey has reported a $2.8 billion total sports betting handle with parlay wagers having the highest win percentage at 19.3%. Football, which saw the NFL season end on Feb. 11 following Super Bowl LVIII, caused New Jersey operators to post a $4.4 million loss on the sport in the year-to-date behind a $438.9 million football handle.
Football fans in New Jersey wagered $141.6 million on Super Bowl LVIII, which saw the Kansas City Chiefs beat the San Francisco 49ers in overtime. The game’s handle was a 30% increase compared to 2023’s Super Bowl between the Chiefs and Philadelphia Eagles.
New Jersey went live with sports betting in 2018 and is home to 16 online sportsbooks.
