The latest monthly revenue report from the New Jersey Division of Gaming Enforcement has indicated that combined gambling revenues for the month of August totaled $487.1 million. This figure represents a decrease of 6.6% from the previous month’s total of $531.6 million, but a 9.3% increase from the total reported in October 2022.
In terms of casino win, land-based casinos in New Jersey reported revenues of $228.1 million, which is a 3.4% increase year-on-year. However, this figure also represents a 7.5% decrease compared to the previous month’s total of $246.6 million. For the month of October, five of the state’s nine casinos reported increases in casino win year-on-year, with the Ocean Casino leading the way with a 53.3% increase.
On the other hand, four casinos reported a decrease in revenues, with Borgata seeing an 8.9% decrease, Caesars at 18%, Harrah’s at 11.9%, and Tropicana at 5.6%. The year-to-date casino win total now stands at $2.4 billion, a 1.9% increase compared to the same period last year.
New Jersey’s iGaming operators reported $166.8 million in combined revenues for the month of September, marking a 1.8% increase from the previous month and a 13.3% increase from October 2022. The year-to-date total now stands at $1.57 billion, a 15.1% increase from the same period in 2022.
In terms of sports betting, New Jersey sports betting operators accepted $1.293 billion in wagers throughout October, with the majority of the wagers placed through online sportsbooks. The year-to-date total sports betting handle in New Jersey is now over $9 billion. Sports betting revenue for the month came to $92.3 million, representing an 18.4% increase year-on-year and bringing the year-to-date revenue total to $801.2 million, a 34.7% increase from 2022.
Overall, the report reflects the ongoing trends in gambling revenues in New Jersey, showing both areas of growth and areas of decline in various sectors of the industry.