New Jersey’s revenue grows exponentially in 2023

New Jersey has seen a significant growth in income collection from the iGaming and sports wagering sectors, totaling $5.78 billion. The amount of revenue generated in 2022 was $5.21 billion, indicating a growth rate of 10.9% for the following year, 2023. This significant increase was attributed to the three verticals, as stated by the New Jersey Division of Gaming Enforcement (NJDGE).

Brick-and-mortar casinos continue to generate the majority of gaming revenue in New Jersey. As a result, their contribution to overall revenue was $2.85 billion, representing a 2.2% rise.

Regarding retail slots, revenue collection increased by 3.3% to a total of $2.11 billion. The table games segment experienced a decline in revenue, totaling $736.2 million, representing a decline of 0.7%.

iGaming revenue reached $1.92 billion, representing a 15.7% increase over 2022. Peer-to-peer poker generated $28.9 million in revenue, whereas online casinos generated $1.89 billion, an increase of 15.9%.

Top of the list was Gold Nugget in the iGaming industry, which generated $524.8 million in revenue. Resorts Digital came in second, with $507.8 million, followed by Borgata with $489.9 million.

Meanwhile, positive news arrived for New Jersey in terms of sports wagering. Revenues in this industry also increased to $1.01 billion, up 31.9% from 2022. This was caused by increased spending among gamers. In 2023, sports betting totaled $11.97 billion. This represented a 9.5% increase over 2022’s $10.93 billion. Out of this, $11.44 billion went to online betting, while retail sportsbooks received $527.8 million.

Meadowlands and associates, FanDuel, PointsBet, and SuperBook finished first in the race, collecting $483.6 million in revenue. DraftKings and Resorts World came next with $314.5 million, followed by Borgata and BetMGM with $82.7 million.

New Jersey received $522.2 million in December, representing a 14.8% increase. Brick and mortar casinos witnessed a 7.8% increase, totaling $232.4 million. Revenue from slots increased by 13.9% to $175.3 million. Table games revenue fell by 7.3% to $57.1 million. iGaming rose 19.1% to $180.3 million, while online slots surged by 19.3% to $178 million.

In December, Golden Nugget dominated the igaming industry with $52.8 million in revenue. Resorts Digital placed second with $46.1 million, while Borgata ranked third with $40.6 million.

Sports wagering experienced a significant increase in revenue, surging by 24.8% to reach $109.4 million. Players generated $1.23 billion in revenue online and an additional $50.5 million at retail locations in December. The substantial contribution from online sports betting sites underscores the growing influence of digital platforms in shaping the financial landscape of the sports wagering industry.

In December, Meadowlands and its three partners also dominated this market with $51.1 million in revenue. With $34.8 million, DraftKings and Resorts World finished in second place, way clear of Borgata and BetMGM in third place with $7.1 million.

Michael Grant

Michael writes news articles covering covering whole casino industry. He is passionate about online poker games. He regularly contributes in-depth news stories regarding casino industry and legislations.

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