In June 2024, New Jersey reported significant developments in its gaming revenue, showcasing a robust 7.4% year-on-year increase, totaling $491 million for the month. This milestone contributes to a yearly total of $3.06 billion, underscoring the state’s pivotal role in the US gaming landscape.
Casino Winnings
New Jersey’s nine casino hotels achieved $244.1 million in June 2024, marking a modest 1% increase from the previous year’s $241.6 million. This steady growth brings the state’s annual casino winnings to $1.36 billion, highlighting a resilient sector amidst evolving market dynamics.
Sports Wagering
Despite a slight downturn, sports wagering gross revenue in June 2024 settled at $60.1 million, down 9.5% from $66.4 million in June 2023. However, the year-to-date figure remains robust, standing 30% higher than the same period last year, with total revenue reaching $573.1 million. This indicates a solid foundation for sports wagering in New Jersey, despite temporary fluctuations.
Internet Gaming
June 2024 witnessed a notable surge in internet gaming winnings, amounting to $186.8 million—a striking 25.2% increase from $149.3 million in June 2023. Yearly totals reflect a resilient 21.4% growth, accumulating to $1.13 billion. This sector continues to expand rapidly, driven by technological advancements and shifting consumer preferences.
Yearly Trends
New Jersey’s gaming industry has sustained an upward trajectory, evident in the 8.3% year-on-year increase reported in May 2024. As a key player in the US gaming market, the state demonstrates resilience and adaptability, fostering an environment conducive to sustained growth and innovation.
New Jersey’s gaming revenue landscape in 2024 reflects a diverse and evolving market. Despite challenges in specific sectors like sports wagering, overall growth remains robust, driven by casino expansions, technological advancements in internet gaming, and strategic market positioning. The state’s ability to navigate fluctuating trends underscores its significance in shaping the future of the US gaming industry.