In October, the New Jersey Division of Gaming Enforcement revealed a robust performance in the state’s gaming sector, with an impressive 9.3% year-on-year increase in revenue.
Overall Industry Performance
The gaming revenue for October 2023 reached an impressive $487.1 million, marking a significant uptick of 9.3% compared to the same period in 2022 ($445.7 million). This growth can be attributed to the collective success of casinos, horse tracks, and online platforms.
Casino Performance
Atlantic City Casino Hotel Properties:
The nine casino hotel properties in Atlantic City collectively recorded a casino win of $228.1 million, reflecting a substantial 3.4% increase from October 2022 ($220.6 million).
Breakdown of land-based wins for individual properties, with notable performances from Ocean (up 53%), Bally’s (up 15%), and Hard Rock (up 5.8%).
Online Gaming:
Online gaming witnessed a remarkable year-on-year growth of 13.3%, with a total win of $166.8 million in October 2023 compared to $147.2 million in the same period last year.
Further insights into the contributions of internet gambling platforms, including Resorts Digital (up 8.5%) and Caesars Interactive (down 34%).
Sports Wagering:
Sports wagering gross revenue experienced a substantial 18.4% increase, reaching $92.3 million in October 2023, up from $77.9 million in October 2022.
Land-Based Wins
A detailed breakdown of the land-based wins for each major casino property, including Bally’s, Borgata, Caesars, Golden Nugget, Hard Rock, Harrah’s, Ocean, Resorts, and Tropicana. This section highlights the individual contributions of each property to the overall industry growth.
Comprehensive Analysis
Inclusion of Internet Gambling and Sports Betting:
A comprehensive overview of the total revenue when money from internet gambling and sports betting is included.
Highlighting the performance of key players, such as Borgata, Ocean, and Hard Rock, in the combined landscape.
Year-to-Date Performance:
Providing a holistic perspective, the article delves into the year-to-date performance of the gaming industry, indicating a substantial 10.6% increase in total gaming revenue compared to the previous year-to-date period.
The thriving gaming industry in New Jersey, as evidenced by the robust October 2023 revenue figures, underscores the resilience and adaptability of the sector. With consistent growth in various segments, including online operations and sports wagering, the state’s gaming landscape continues to evolve and set new benchmarks for the broader industry.