New Jersey Online Gaming Growth Far Outpaces Retail Segment in June

Article by : Erik Gibbs Jul 22, 2024

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The New Jersey Division of Gaming Enforcement (NJDGE) has released its report for June 2024, revealing a robust performance in the state’s gaming industry. Casinos and horse tracks offering sports betting reported a total gaming revenue of $491 million, marking a 7.4% increase from June 2023’s $452.7 million.

The nine Atlantic City casino hotel properties contributed significantly to this figure, with a casino win of $244.1 million, a modest 1% increase compared to June 2023’s $241.6 million. The online gaming sector showed more substantial growth, with a win of $186.8 million, a significant 25.2% increase year-on-year from $149.3 million. However, sports wagering gross revenue experienced a downturn, with $60.1 million, a 9.5% decrease from the previous year’s $66.4 million.

For retail gaming revenue, the Borgata led the pack with $64.3 million, a 6% increase from a year earlier. Hard Rock followed with $48.4 million, marking an 11.8% increase. Ocean reported $33.4 million, down 4%, while Tropicana posted $20.2 million, also down 4%.

Harrah’s reported $17.6 million, down 15%, and Caesars reported $9 million, down 11%. Bally’s, Golden Nugget, and Resorts reported $13.5 million (up 9%), $12.5 million (up 5.9%), and $14.9 million (down 2%), respectively.

When considering internet and sports betting revenue, Borgata reported $110 million, up 5.7%. Golden Nugget reported $64.2 million, up nearly 20%, and Hard Rock reported $63.7 million, up 24.4%. Ocean reported $39.6 million, down 0.4%, and Tropicana reported $38.5 million, up 30.7%.

Bally’s, Caesars, Harrah’s, and Resorts reported $24.6 million (up over 27%), $19.2 million (down over 11%), $19.1 million (down 8.8%), and $15 million (down 2.3%) respectively. For those operators who only have an online presence in the state, Resorts Digital reported $62.9 million, up 3.3%, and Caesars Interactive NJ reported $1.424 million.

The year-to-date gaming revenue is now at $3.06 billion as of the end of June, a 12.2% increase from the $2.73 billion reported in the prior year-to-date period. This comprehensive review highlights the dynamic nature of the gaming sector and its significant economic contributions to New Jersey. Despite the month-on-month decrease in sports wagering gross revenue, the industry continues to be a vital part of the economy, contributing millions in taxes and payments to the state.