New Jersey Gaming Revenue Stays in Upward Trend Year-over-year

Gambling Income Increased By 7% In New Jersey

The September 2022 gaming revenue data for New Jersey's casinos, sportsbooks, and online operators were released by the Division of Gaming Enforcement (DGE), overseen by the office of Attorney General Platkin.

According to reports submitted to the gaming division, overall income for September 2022 was $453.6 million, up from $323.3 million the previous month.

New Jersey casino winnings totaled $248.5 million last month, up from $190.6 million in September of last year, and $122.6 million in September from online gaming, up from $87.6 million. 

The highest rise in gross revenue came from sports betting, up nearly 83% to $82.4 million for the month from $45.1 million in 2020.

Compared to the $2.58 billion for the same month in 2019, which represents an increase of around 50%, New Jersey's September 2022 year-to-date revenue of $3.87 billion is quite encouraging.

It's crucial to remember that the state had two record-breaking gaming income quarters and that a slowdown was beginning to become apparent by the end of the second quarter.

Additionally, the September data confirm that growth is now considerably slower. On November 22, DGE will release its third-quarter results, showing that the trend from Q3 has continued. This is nevertheless a positive development for the sector.

The Casinos

According to the Casino Association of New Jersey, the first nine months of this year saw declines seven major casinos while two had a significant increase compared to the same period in 2019.

Declines in comparison to the same period in 2019

Increases in comparison to the same period in 2019

Bally's earned close to $15.9 million from live gamblers in September, an increase of 12.8% from the same month last year. It made more than $3.7 million in online winnings, up from just $337,000 a year earlier, and more than $905,000 in sports betting, up from $126,000.

In-person gamblers brought in $62.3 million for Borgata, an increase of 3.5% from the previous year. It increased its online winnings by 7.6% to $41.1 million and decreased its sports wagering winnings by over $13.4 million to over $10 million.

In-person wagering brought Caesars $22.4 million, an increase of 1.8% from the previous year. In contrast to a loss of more than $380,000 the last year, it gained roughly $1.5 million on sports wagers.

Industry revenue is anticipated as additional states join the club of having legalized gambling. This increases the appeal of gaming in all its forms to states that have been wholly opposed to legalization, maybe tilting the scales and encouraging further spread.