New Jersey's Gambling Industry Sees Strong Growth in September with Online Betting Leading the Way

In September, licensed gambling operators in New Jersey experienced a notable surge in revenue. The state’s gambling regulator, the Division of Gaming Enforcement (DGE), released a report highlighting this growth, which spanned casinos, racetracks, and their partners.

Revenue Growth Surges in September

The report from the DGE pointed out that New Jersey’s gambling sector generated an impressive $558.3 million in revenue during September. This represents a solid 7.1% increase compared to the $521.5 million collected in the same month of the previous year. This revenue growth wasn’t limited to just the month of September; on a year-to-date basis, the state’s gambling industry has pulled in $4.72 billion, which marks a 10.1% rise from the $4.29 billion reported over the same period last year.

Much of this increase can be attributed to the strong performance of online gambling, which has continued to gain traction in the state. Additionally, traditional casino gaming and sports betting have also contributed to this upward trend.

Online Gambling and Sports Betting Drive Growth

Delving deeper into the numbers, online gambling played a significant role in New Jersey’s revenue surge. Internet gaming in the state reached a remarkable $208.1 million in September, a substantial 27.1% rise from the $163.8 million posted during the same period in 2023. The trend is equally positive when looking at year-to-date figures, with internet gaming win reaching $1.73 billion by the end of September, representing a 23.2% increase compared to the previous year.

In addition to the growth in online gaming, sports betting also contributed to the overall revenue increase. The DGE’s report revealed that casinos, racetracks, and their partners brought in $119.6 million in sports betting gross revenue last month. This figure reflects a 7.6% growth compared to the same month last year, further bolstering New Jersey’s gambling industry.

Brick-and-Mortar Casinos Show Modest Growth

While the biggest revenue spikes were seen in online gambling and sports betting, land-based casinos also saw a positive, albeit smaller, increase. Casino win in September amounted to $230.6 million, which was a 6.5% increase from the previous year. Despite this being the smallest percentage growth compared to other sectors, brick-and-mortar casinos still contributed over half of the total revenue for the month.

Mixed Results for Some Casino Operators

Although New Jersey’s gambling industry as a whole saw positive growth, not all individual operators benefited equally. Out of the 13 licensed casino operators in the state, five reported decreases in their total revenue for September when compared to the same period last year. It’s important to note that these recent results aren’t directly comparable to the pre-pandemic era, particularly 2019, but they do show significant progress from 2022 when total reported revenue was at $485 million.

New Jersey’s brick-and-mortar casinos, primarily located in Atlantic City, have had a fluctuating performance over the years. Once the East Coast’s premier gambling destination, Atlantic City’s casino industry faced significant challenges starting in the mid-2000s due to increased competition from neighboring states like Pennsylvania and New York, which began opening their own casinos. Several Atlantic City casinos closed between 2014 and 2016, as the market became oversaturated and struggled to attract customers. However, since 2018, the market has seen signs of recovery with the reopening of properties such as Hard Rock Hotel & Casino and Ocean Casino Resort, along with efforts to diversify attractions by offering non-gaming entertainment, dining, and retail options to draw a broader audience.

In recent years, despite the challenges posed by the COVID-19 pandemic, brick-and-mortar casinos in New Jersey have experienced a rebound in revenue as in-person gambling returned. Total gaming revenue from land-based casinos in Atlantic City reached over $2.8 billion in 2022, a marked improvement from previous years. While online gambling has certainly expanded the overall gaming market, physical casinos remain a significant part of the state’s economy. However, competition from nearby states, coupled with the rise of online gambling, continues to impact the performance of these brick-and-mortar establishments, forcing them to innovate and offer more diverse experiences to maintain competitiveness in an evolving gaming landscape.

A Look at Online Gambling in New Jersey

Online gambling in New Jersey has experienced significant growth over the past few years, driven by its progressive regulatory environment and increasing consumer interest. Since 2013, when the state legalized online casinos and sports betting, New Jersey has become a major player in the U.S. market. The Division of Gaming Enforcement (DGE) strictly monitors and regulates operators to ensure compliance with rules that promote fair play and responsible gambling. Leading industry players such as DraftKings, BetMGM, FanDuel, and Caesars dominate the landscape, contributing heavily to New Jersey’s economy through taxes and license fees. The industry generated over $1.6 billion in online casino revenue in 2022, marking consistent annual growth, with sports betting further boosting the state’s overall gambling revenues.

New Jersey’s growth can be attributed to several factors, including advancements in technology, the increasing popularity of mobile gambling apps, and the ease of access to a wide variety of online games and sports betting options. The state’s gambling ecosystem has been quick to embrace innovation, offering consumers more immersive and interactive gambling experiences. Projected growth for the online gambling sector looks promising, with experts predicting a continued upward trend as new gaming formats like live dealer games and esports betting gain traction. Additionally, the rise of responsible gambling tools, such as self-exclusion programs and time limits, helps New Jersey maintain a reputation for balancing profitability with consumer protection.

Compared to other U.S. states and countries, New Jersey stands as a trailblazer in the online gambling industry. While states like Pennsylvania and Michigan are expanding their markets, they still lag behind New Jersey in terms of revenue and market maturity. Internationally, countries like the U.K. and Malta have well-established online gambling frameworks, but New Jersey’s dynamic growth highlights the state’s potential to become a global leader in the sector. Upcoming legislative changes, such as the possible introduction of esports betting and enhanced virtual gaming experiences, present new opportunities for growth. This stands in contrast to states like New York, which have been slower to adopt online gambling, and more restrictive countries where gambling regulations limit market development.

Gambling Sector’s Performance

To sum it up, September proved to be a successful month for New Jersey’s gambling operators, with the entire sector experiencing strong growth across online gaming, sports betting, and land-based casino revenue. While some operators reported declines in revenue, the overall picture remains positive, with year-over-year increases pointing to the resilience and continued expansion of gambling in the state.

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