New Jersey’s internet gambling market reached a new high in October, with casinos and their online partners raking in $213.6 million, surpassing September’s previous record of $208 million, as players increasingly favor online betting over traditional casinos.
Combined revenue from in-person casinos, internet gambling, and sports betting totaled nearly $500 million for the month, up 2.6% year-on-year, according to data released Monday by the New Jersey Division of Gaming Enforcement.
Online gambling revenue eclipsed in-person casino revenue for the first time in October, excluding periods during the pandemic when physical casinos were closed. This marked also the second consecutive month internet gaming revenue surpassed $200 million.
“These two accomplishments are emblematic of the importance of online gaming as a component of the evolving casino business,” said James Plousis, chairman of the New Jersey Casino Control Commission.
The shift towards online gambling, which gained momentum during the COVID-19 pandemic, is becoming a permanent feature of New Jersey’s gambling landscape.
Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, said internet gambling drove a 9% rise in total casino revenue year-on-year despite an 8.5% decline in in-person casino winnings.
“Despite a historically dry and very mild October, brick-and-mortar gaming operators in Atlantic City did not see strong gains over 2023,” Bokunewicz said, adding that “internet gaming continued a record streak.”
While overall revenues grew, only three casinos—Borgata, Hard Rock, and Ocean—recorded in-person gambling revenues higher than in October 2019, prior to the pandemic.
Borgata topped the charts, generating $106.1 million when internet and sports betting revenues were included, up 5.8% from the previous year. Resorts experienced a 19% jump to $88.7 million, while Golden Nugget saw the highest growth at nearly 25%, bringing in $76.7 million.
By contrast, several properties struggled with in-person gambling. Ocean’s in-person revenue fell over 24%, while Golden Nugget’s declined more than 20%. Harrah’s, Bally’s, and Caesars saw smaller declines or modest gains.
Original article: https://www.yogonet.com/international/noticias/2024/11/19/85822-new-jersey-internet-gambling-hits-record-213-million-in-october
