The New Jersey Division of Gaming Enforcement (DGE) has recently unveiled the gaming revenue figures for December 2023, providing a fascinating glimpse into the state’s thriving gambling industry. The data reveals a robust 14.8% surge in total gaming revenue compared to December 2022, with notable increases in various sectors.
Overall Growth Trends:
In December 2023, the collective gaming revenue from casinos, racetracks, and their partners reached an impressive $522.2 million. This marks a substantial uptick of 14.8% from the $454.8 million recorded in the same period of the previous year. The broader picture for 2023 is equally promising, with total yearly revenue hitting $5.78 billion, signifying a substantial 10.9% growth compared to the $5.21 billion reported in 2022.
Casino Performance:
New Jersey’s nine land-based casinos contributed significantly to the overall revenue, reporting $232.4 million in December 2023. This indicates a commendable 7.8% increase from the $215.6 million recorded in December 2022. The annual figures for 2023 reveal a 2.2% growth, with casinos reporting a total revenue of $2.85 billion.
However, it’s noteworthy that some major players in the casino industry, including Borgata, Caesars, Caesars Interactive NJ, Harrah’s, and Resorts, experienced a slight dip in revenue from the previous year. Despite this, their overall numbers remain substantial, underscoring the industry’s resilience.
Internet Gaming Trends:
The online gaming sector continues its upward trajectory, with December 2023 witnessing a remarkable 19.1% increase in revenue, totaling $180.3 million compared to November’s $151.5 million. The annual statistics for 2023 showcase robust growth, with total internet gaming revenue reaching $1.9 billion. This represents a notable 15.7% surge from the $1.66 billion reported in 2022.
Sports Wagering Insights:
Sports wagering emerges as a standout performer, with December 2023 recording a substantial 24.8% increase in revenue, soaring to $109.4 million from $87.7 million in the previous year. The annual figures for 2023 are particularly impressive, surpassing the billion-dollar mark at $1.01 billion. This reflects a remarkable 31.9% surge compared to the $763.0 million reported for 2022.
Individual Casino Licensees:
While the majority of casino licensees reported a marginal increase in yearly revenue across all gaming categories, Borgata, Caesars, Caesars Interactive NJ, Harrah’s, and Resorts experienced a slight decline. It’s crucial to note that despite this dip, these entities still contribute significantly to the overall revenue, emphasizing the robust nature of the New Jersey gaming market.
The December 2023 gaming numbers for New Jersey paint a picture of a dynamic and growing industry. The year-end figures highlight impressive gains in total gaming revenue, with online gaming and sports wagering playing pivotal roles in driving the industry forward. While some individual casino licensees faced minor setbacks, the overall landscape remains resilient and poised for continued success in the coming years. As the industry evolves, these insights provide valuable information for stakeholders and enthusiasts alike, underscoring New Jersey’s status as a prominent player in the gaming arena.