In a record-breaking year for the video game industry, New Jersey reached an all-time $6.30 billion this year in gaming revenue. That is up 9.0% from the record $5.78 billion from last year, according to the New Jersey Division of Gaming Enforcement (NJDGE). The rise was largely driven by dramatic gains in the iGaming and sports betting markets, with land casinos seeing a modest drop. For more information, have a look at this NJ gambling guide.
iGaming: Strongest Performer
iGaming was the strongest performer in this year, having revenue up 24% to $2.39 billion. The figure pushed iGaming to the brink of passing land-based casinos, which collected $2.82 billion. Online slots and table games brought most of iGaming's revenue, $2.36 billion, representing a 24.5% increase over last year. However, peer-to-peer poker revenue fell 1.5% to $28.5 million.
Top iGaming Operators:
- DraftKings and Resorts Casino were the leaders in iGaming revenue in the industry with $515 million.
- FanDuel and Golden Nugget Atlantic City were second with $506.6 million.
- BetMGM and Borgata took third place with $287.7 million.
Golden Nugget was the top master license holder with $688.9 million in revenue from iGaming, and several operators are operating under its license.
Sports Betting: Another Record Year
New Jersey sports betting also saw a new high, with revenue increasing by 8.7% to $1.09 billion. Overall sports bets placed reached a record of $12.77 billion, up 6.7%, with $12.27 billion coming from online and $499.2 million from retail.
Top Sports Betting Operators:
- FanDuel topped the chart with $459.4 million in revenue.
- DraftKings and Resorts Casino were second with $289.1 million.
- BetMGM and Borgata finished third with $70.7 million.
Land-Based Casinos: Slight Decline
Although they remain the largest gambler revenue source, land-based casinos decreased by 1.1% to $2.82 billion. Physical slot machine revenue decreased by 0.7% to $2.10 billion, and table game revenue decreased by 2.0% to $721 million.
Top Land-Based Casinos:
- Borgata Hotel Casino & Spa led with a revenue of $738.1 million.
- Hard Rock Hotel & Casino ranked second with $544.9 million.
- Ocean Resort Casino ranked third with $409.7 million.
Performance for December
For the month of December, total gaming revenue in New Jersey was $522.6 million, a modest increase of 0.1% compared to the previous year. iGaming continued strong, generating another record with $228.0 million in revenue, a gain of 26.5% from the previous year. Revenue from sports betting fell significantly due to positive customer outcomes, falling 42.6% to $62.8 million. Revenue from land-based casinos was essentially flat, down 0.3% to $231.8 million.
Generally speaking, the year has been a turning point year for the gaming industry in New Jersey, with sports betting and iGaming providing growth and direction for future movement in market dynamics.
Conclusion
New Jersey has registered robust performance in the gaming industry, achieving a record-high revenue of $6.3 billion. The major drivers of this growth were in the way of iGaming and sports betting, both of which have continued to provide record-high numbers.
Although there has been some reduction in land casino revenue, the general future for the industry looks bright. It should be noted that online betting and sports book are becoming increasingly popular, positioning the future in a good way. With a solid performance in these markets, New Jersey is setting itself up to become a central player in the changing gambling industry.