New Jersey’s Internet Gambling Market Surges: November Sets New Revenue Records Despite Casino Struggles
New Jersey’s Internet Gambling Revenue Hits New Highs in November
ATLANTIC CITY, N.J. (AP) — New Jersey’s rapidly growing internet gambling market continued to set records in November, surpassing $214 million in revenue, according to recently released figures from the New Jersey Division of Gaming Enforcement. This marks a slight increase over the previous record of $213 million set just a month prior.
Record Online Gaming Revenue
James Plousis, chairman of the New Jersey Casino Control Commission, highlighted that the success in online gaming and sports wagering has led to the highest total gaming revenue for November in over a decade. ‘The continuing success of online gaming and sports wagering has helped total gaming revenue achieve its best November monthly result in over a decade,” Plousis stated.
However, the surge in internet gambling revenue does not necessarily bode well for Atlantic City’s physical casinos. While the online segment is thriving, revenue from in-person gambling remains subdued compared to pre-pandemic levels at six of the nine casinos in the city.
In-Person Revenue Struggles
In November, Atlantic City casinos collectively reported in-person revenue of approximately $223.9 million—matching their pre-pandemic levels but only representing a recovery for a minority of establishments. Only three casinos—Hard Rock, Ocean, and Resorts St. — reported higher winnings from in-person gamblers compared to November 2019.
This shift highlights a concerning trend for physical casinos as they continue to grapple with a market increasingly geared toward online gaming. Many casino operators regard in-person gamblers as their core revenue drivers, and that segment has struggled in recent years.
Trends and Comparisons
New Jersey’s internet gambling figures have shown a notable increase, up nearly 25% from the same month last year. Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, commented on the enduring success of the online gambling market, noting that it has surpassed $200 million in revenue for three consecutive months.
When incorporating sports betting revenue along with internet gambling, total revenue for the month reached approximately $556 million, which represents a robust increase of 15.4%. This growth was partially attributed to two additional weekend days in November compared to the previous year.
Breakdown of Casino Performances
Analyzing the performance of individual casinos, Borgata led with $122.6 million in total winnings, marking a substantial increase of over 25% from last year. Other casinos also saw positive trends, including:
- Resorts: Nearly $101 million, up nearly 28%
- Golden Nugget: Nearly $77 million, up 26%
- Hard Rock: $63.5 million, up over 21%
- Ocean: $39.8 million, up 8.6%
- Bally’s: $24.5 million, up over 24%
- Harrah’s: $18.5 million, down 4.4%
- Tropicana: $16.6 million, down 7.3%
- Caesars: $16.5 million, down 7.4%
In terms of in-person revenue, Borgata again emerged as the front-runner with $57.5 million, up 11.4% from last year, while other casinos experienced mixed results.
Sports Betting Insights
Sports betting revenue also made a significant impact in November, totaling nearly $119 million from approximately $1.2 billion in bets placed. The Meadowlands Racetrack in East Rutherford recorded $50.5 million in sports betting revenue, although this represented a decline of 12.3% compared to the previous year.
Conversely, Resorts Casino, partnered with DraftKings, reported almost $38 million in sports betting revenue, nearly doubling its figures from a year earlier. Additionally, Monmouth Park saw an impressive surge in sports betting revenue, reaching $2.5 million, a 163% increase, likely benefiting from the recent shutdown of operations at nearby Freehold Raceway.
Conclusion
While New Jersey’s internet gambling sector demonstrates remarkable growth and resilience, physical casinos face ongoing challenges in recapturing pre-pandemic levels of in-person gambling revenue. As online gaming continues to thrive, it remains to be seen how traditional casinos will adapt to maintain their relevance and financial stability in a changing landscape.
For updates on gaming and other news, follow Wayne Parry on social media at Wayne Parry on X.