Overview of Gaming Revenue Trends
In May 2024, the New Jersey gaming industry demonstrated robust performance across various sectors, with notable increases in casino win, internet gaming revenue, and overall total gaming revenue.
Casino Win
Casino win for the nine casino hotel properties in New Jersey reached $239.1 million in May 2024, marking a 5.2% increase compared to the same month last year. Year-to-date, however, the casino win remained flat at $1.11 billion compared to the previous year. This stability suggests that while monthly fluctuations occur, the overall casino win is maintaining steady performance levels.
Internet Gaming Growth
Internet gaming continued its upward trajectory with revenues totaling $192.1 million in May 2024, reflecting a significant 19.0% increase from the previous month. Year-to-date, internet gaming win reached $942.8 million, indicating a robust 20.6% rise compared to the same period last year. This sector has consistently shown growth, highlighting its increasing importance within the New Jersey gambling market.
Sports Wagering Dynamics
The sports wagering sector experienced a slight downturn in May 2024, with gross revenues amounting to $78.8 million, representing a 4.2% decrease from the previous month. Despite this monthly dip, the year-to-date sports wagering revenue showed substantial growth, reaching $513.0 million—a 37.0% increase compared to the previous year-to-date period. This indicates strong overall performance in sports betting despite occasional monthly fluctuations.
Overall Total Gaming Revenue
Total gaming revenue for May 2024 was reported at $510.0 million, marking an 8.3% increase from the previous month. Year-to-date total gaming revenue stood at $2.57 billion, showcasing a robust 13.1% rise compared to the same period last year. This comprehensive figure reflects the combined performance of casino win, internet gaming, and sports wagering, illustrating the overall health and growth of the New Jersey gaming industry.
Previous Months
Earlier in February 2024, New Jersey experienced a similar trend of growth in total gaming revenue, driven primarily by increases in internet gaming and sports betting revenues. Despite slight fluctuations in casino win during some months, the overall trajectory has been positive throughout the year, underscoring the resilience and adaptability of the state’s gambling sector.
The May 2024 gaming revenue results from New Jersey indicate a robust performance across key sectors despite some mixed results in individual categories. The steady increase in total gaming revenue, driven by substantial growth in internet gaming and sports wagering, underscores the industry’s resilience and adaptability. As the year progresses, continued monitoring of these trends will provide valuable insights into the evolving dynamics of one of the nation’s leading gambling markets.