Total revenue in 2023 was up 10.9% from $5.21bn in the previous year. The New Jersey Division of Gaming Enforcement (NJDGE) noted growth across all three core markets.
Land-based casinos remain the primary source of gambling revenue in New Jersey. These accounted for $2.85bn of all revenue, a year-on-year rise of 2.2%.
Retail slots revenue was 3.3% higher at $2.11bn but table games revenue slipped 0.7% to $736.2m. Incidentally, table games was the only subsection of the market to report lower revenue in 2023.
New Jersey igaming revenue nears $2.00bn
As for igaming, revenue here reached $1.92bn – a new record and 15.7% higher than in 2022.
Online slots revenue jumped 15.9% to $1.89bn, while peer-to-peer poker increased 5.6% to $28.9m.
Golden Nugget took top spot in the igaming market with $524.8m in revenue for the year. Resorts Digital followed in second with $507.8m, then the Borgata on $489.9m in revenue.
Sports betting revenue exceeds $1.00bn for the first time
Meanwhile, there was more good news for New Jersey in terms of sports betting, Revenue here also hit a new yearly high of $1.01bn, up 31.9% from 2022 and the first time the state surpassed the $1.00bn mark.
This was helped by a higher spend among players in the state. Bettors wagered $11.97bn on sports in 2023, up 9.5% from 2022’s $10.93bn annual handle. Of this, $11.44bn was wagered online and $527.8m at retail sportsbooks.
Meadowlands and partners FanDuel, PointsBet and SuperBook were the frontrunners with $483.6m in revenue. DraftKings and Resorts World were second on $314.5m, then Borgata and BetMGM with $82.7m.
New Jersey ends 2023 on a high with December growth
Turning to the final month of 2023, total market revenue in December was 14.8% higher at $522.2m.
Land-based casinos win increased 7.8% to $232.4m. This was driven by a 13.9% jump in slots revenue to $175.3m, whereas in contrast, tables games revenue fell 7.3% to $57.1m.
Igaming revenue hiked 19.1% year-on-year in December to $180.3m. Internet slots revenue jumped 19.3% to $178.0m, while peer-to-peer poker revenue was up 4.7% to $2.3m.
Golden Nugget was the igaming leader in December with $52.8m in revenue. Resorts Digital was second on $46.1m, then the Borgata with $40.6m.
As for sports betting, revenue increased 24.8% to $109.4m. This was helped by a 20.8% rise in handle to $1.28bn. Players bet $1.23bn online during the month, in addition to $50.5m at retail locations.
Meadowlands and its trio of partners also claimed top spot in this market in December with $51.1m in revenue. DraftKings and Resorts World placed second on $34.8m, some way ahead of the Borgata and BetMGM in third on $7.1m.
Original article: https://igamingbusiness.com/finance/records-tumble-in-new-jersey-in-2023/
