iGaming Revenue on the Rise in New Jersey

The AGA Says That U.S. Commercial Gaming Revenue Broke Q3 Record Again

The New Jersey Division of Gaming Enforcement recently announced gaming numbers for the month of March, and it was a mixed bag of results. The online gaming options in New Jersey continue to increase in popularity, while the in-person casinos are struggling. 

Total casino revenue for the month of March came in at $197 million, and a large portion of that figure came from the online casino operators. In fact, casinos in Atlantic City are actually making less money now than what they were seeing before the start of the COVID-10 pandemic. 

All forms of online gaming were popular in the month of March as the sportsbooks in the state posted a handle of $1.33 billion. That was nearly a record for the state of New Jersey, and more than 90% of the bets were made online. 

The iGaming industry in New Jersey hasn’t seen a ton of growth in terms of number of operators, but bettors continue to find new games or betting options. The casino operators in New Jersey are growing frustrated with the lack of revenue, but they are still tied to the online casinos in some form. 

Casinos Can’t Attract Business

The winter months are always a slower time for the casinos that are located in Atlantic City, but things are heading in the wrong direction. A bounce back is expected to happen during the summer months, but many casino owners are not wanting to wait. 

The total in-person casino win was $239 million, and that total figure was up slightly from the previous total in March 2023. While that might be true overall, only two of the nine casinos are seeing growth when looking at the year-over-year numbers. 

In-person revenue will always be more important to the casinos as they are allowed to keep all of that money. Casinos have to pay a good chunk of online casino revenue to the state, and that hurts their overall numbers. 

The Hard Rock Casino and Ocean Casino were two of the biggest winners in the month of March, and those properties continue to be among the biggest in Atlantic City. 

Online Casinos Cashing In

There are a number of gaming options available at the online casinos in New Jersey, but it is the online slots that continue to bring in the most revenue. A number of operators in New Jersey recently announced new online slots games, and some of the top developers are working to create new excitement in the state. 

Borgata was the big winner in terms of online casino gaming and sports betting as it posted an iGaming revenue of more than $106 million. Despite setting the tone in March, that operator actually saw a decline in the total iGaming revenue. 

Golden Nugget Casino brought in over $70 million in iGaming revenue to finish in second place, and Hard Rock was a close third. There is a ton of competition when it comes to iGaming in the state, and several smaller operators were able to cash in. 

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