New Jersey igaming and sports betting revenues continue to rise in October
Sports betting the month's big winner as latest DGE statistics reveal both verticals remain on an upward trajectory, with total gaming revenue increasing by 9.3% YOY
Latest revenue results figures from the New Jersey Division of Gaming Enforcement (DGE) for October 2023 have revealed both igaming and sports betting revenues have continued to trend upward, recording 13% and 18% growth year on year (YOY), respectively.
To give those numbers some context, the internet gaming win reported by online casinos and their partners across New Jersey for the year to date (YTD) was $1.57bn, compared to the $1.37bn recorded for the same period last year. Meanwhile, the sports wagering gross revenue reported by casinos, race tracks, and partners in the state was $801.3m – up 34% from the $594.8m reported in 2022.
Overall casino handle for the nine bricks-and-mortar casino hotel properties in New Jersey also saw a slight increase YOY, with the $228.1m taken in October reflecting a 3.4% improvement on the $220.6m earned last year and contributing to an overall year-to-date casino win of $2.4bn (also up 1.9%).
These three revenue streams combined mean the total gaming revenue recorded in New Jersey for the YTD sits at $4.77bn, with this number reflecting a 10.6% YOY increase compared to the $4.32bn reported for the same period in 2022. All in all, this makes for a very strong set of figures for October 2023, with not one key vertical recording a loss compared to the corresponding month last year.
In terms of identifying the big winners by operator, Ocean Casino jumped ahead of September’s success story, Bally’s, by recording total gaming revenue of $48.1m – a 51.2% increase compared to its results from October last year – with this being very evenly split between online and live casino wins.
The biggest mover in terms of sports betting, meanwhile, was again Hard Rock, which recorded sports wagering revenue of almost $2.3m – an increase of 4,051.5% compared to the $58,205 earned in October 2022 – with Bally’s a distant second at 1,239.7% up on the corresponding period last year, reporting $221,697 in revenue.