New Jersey Online Casinos Earn $5 Billion In All-Time Revenue
After a down month in August, New Jersey online casinos bounced back in September. They reported slightly more than $135 million in revenue, nearly $4 million better than the previous showing.
This was another good month for the NJ online gambling market. Online casino apps managed at least $131 million during each of the last seven months now. In total, NJ just crossed $5 billion in all-time online casino revenue.
September’s report from the Division of Gaming Enforcement appears like it could become a sign of more to come. Since the summer months are usually the best for Atlantic City casinos, online wagering has the potential to keep climbing.
Not only did NJ online casinos beat out the month prior, but they are also well ahead of last year. For just September alone, Garden State apps saw growth of more than 10% compared to figures from 2021.
NJ sports betting revenue soars in September
NJ sports betting revenue took an even bigger leap last month, totaling $98 million in revenue. Thanks to the return of football, earnings increased by around $33 million compared to August sports wagering.
Of course, this improvement stemmed from a sizable jump up in handle. Sportsbooks accepted $866.7 million in bets in September, which is a difference of $320 million when looking at the last two months. NJ sports betting apps accounted for nearly $808 million of the betting.
This marks the first time the sports betting handle exceeded $800 million since April, when books took in about $925 million in bets.
Take a closer look at how the nine Atlantic City casinos and three NJ racetracks performed last month:
| Licensee | Online Brand(s) | Handle | Revenue | Hold | Taxes |
|---|---|---|---|---|---|
| Meadowlands | FanDuel | PointsBet | SuperBook | $414,789,533 | $46,643,274 | 11.2% | $6,482,945 |
| Resorts Atlantic City | DraftKings | Fox Bet | $206,635,005 | $22,646,200 | 11.0% | $3,217,065 |
| Borgata | BetMGM | Borgata | $85,545,952 | $10,023,248 | 11.7% | $1,184,020 |
| Tropicana Atlantic City | Caesars | Mojo | $57,685,287 | $6,407,970 | 11.1% | $899,722 |
| Freehold | Barstool | PlayUp | betParx | $41,037,855 | $4,608,979 | 11.2% | $641,448 |
| Monmouth Park | BetRivers | Caesars | $21,387,756 | $2,734,297 | 12.8% | $340,063 |
| Hard Rock Atlantic City | Hard Rock | bet365 | Unibet | $16,550,610 | $1,841,317 | 11.1% | $258,160 |
| Caesars Atlantic City | WynnBet | 888 | $10,176,749 | $1,492,870 | 14.7% | $165,478 |
| Bally’s Atlantic City | VIE | Sporttrade | $5,411,906 | $905,482 | 16.7% | $78,710 |
| Ocean | Tipico | $4,167,097 | $536,355 | 12.9% | $48,051 |
| Golden Nugget Atlantic City | Golden Nugget | Betway | $1,770,031 | $224,097 | 12.7% | $28,113 |
| Harrah’s Atlantic City | Prophet | Fubo | $903,303 | -$154,852 | -17.1% | -$1,935 |
| Total | $866,061,083 | $97,909,237 | 11.3% | $13,341,841 |
More on NJ online casinos crossing $5-billion mark
The NJ online casino industry will celebrate its ninth anniversary next month. Of course, NJ online casino revenue has come a long way since those early days.
September’s NJ online casino results pushed the industry past the $5-billion mark in all-time revenue. Exceeding $130 million on a monthly basis certainly helps. However, there have been a couple of significant events that have contributed to this success story as well.
Some of it is a result of the 2018 launch of NJ mobile sports betting that created cross-selling opportunities. However, the NJ online casino industry saw its most significant increases when the global pandemic forced a temporary shutdown of Atlantic City casinos and cancelled sporting events. The industry really took off from there.
The year-to-date NJ online casino revenue stands at $1.22 billion through September.
Here is a closer look at how the AC casino license holders and their online partners have fared since that November 2013 debut:
| Licensee | Total Revenue | Slots & Tables | Poker | Promos | Taxes |
|---|---|---|---|---|---|
| Golden Nugget Atlantic City | $1,725,314,671 | $1,725,314,671 | $0 | $177,040,820 | $301,995,477 |
| Borgata | $1,605,336,589 | $1,515,419,332 | $89,917,257 | $69,816,067 | $278,612,190 |
| Resorts Atlantic City | $1,282,526,416 | $1,217,085,126 | $65,441,290 | $73,778,398 | $222,709,967 |
| Caesars Atlantic City | $605,598,340 | $506,434,457 | $99,163,883 | $278,708 | $103,517,767 |
| Tropicana Atlantic City | $494,256,055 | $494,256,055 | $0 | $59,674,602 | $86,494,813 |
| Hard Rock Atlantic City | $248,159,465 | $248,159,465 | $0 | $6,128,216 | $43,456,605 |
| Ocean | $81,068,490 | $81,068,490 | $0 | $2,509,367 | $14,237,043 |
| Bally’s Atlantic City | $67,971,333 | $67,971,333 | $0 | $9,925,123 | $11,881,543 |
| Trump Plaza | $7,644,624 | $7,644,484 | $140 | $0 | $1,336,249 |
| Taj Mahal | $6,032,943 | $5,470,434 | $562,509 | $0 | $1,041,791 |
| Total | $6,123,908,926 | $5,868,823,847 | $255,085,079 | $399,151,301 | $1,065,283,445 |
NJ online casino revenue set to rise
The NJ online casinos are in a great position for the year. The $1.22 billion in 2024 profits is over 23% better than where NJ online casino revenue sat a year ago, with it closer to $989 million.
While they continue to do well, this is the point in the calendar where online apps start to attract more attention.
Last year, earnings bumped up between August and September, then again the following month. Online casino revenue in Oct. 2021 hit $127 million, up $4.4 million from that September.
Despite November figures lacking a little, revenue reached the mid-$130 millions in December and January. The all-time monthly record of $140.6 million from March of this year remains the all-time monthly record.
With a lot fewer people in the state on vacation enjoying AC casinos during the colder months, online apps help pick up the slack. They should be in store for several more productive months ahead.
Borgata’s market lead gets tighter
Although the top of the NJ online casino market remains the same, the leader is feeling a little more pressure than usual. The Borgata, led by BetMGM and Borgata online casinos, was once again the lone license holder to exceed $40 million in monthly revenue, reporting $41.1 million or September. However, Borgata finished up about $700,000 shy of August.
Both Resorts Digital (led by DraftKings and Barstool casinos) and Golden Nugget, which includes Golden Nugget online casino, took full advantage, as they each brought in more profits than the month before.
Resorts completed the best showing, ending September with close to $34.2 million. This is a 20.5% improvement from the same month last year, and a surge of 11.2% from August. The result proved good enough to leapfrog Golden Nugget by the slimmest of margins.
It dropped back into third, however, the online casino licensee also held its own last month. Golden Nugget’s earnings were just around $27,000 lighter than Resorts Digital.
The Golden Nugget, which also includes the Betway and BetRivers brands, still enhanced its earnings by 10% from a year ago, in addition to about 9% from the previous month.
Now, even though the Borgata holds an edge over Golden Nugget and Resorts Digital’s apps like DraftKings and PokerStars, it isn’t too substantial. June marked the last time second place was this close to the leader, when Golden Nugget got within $5 million.
Here is a more detailed look at the September NJ online casino results by license holder:
| Licensee | Total Revenue | Casino Games | Poker | Promos | Taxes |
|---|---|---|---|---|---|
| Borgata | $41,119,336 | $40,394,819 | $724,517 | $2,390,844 | $7,170,235 |
| Resorts Atlantic City | $34,194,508 | $33,573,493 | $621,015 | $2,956,684 | $5,927,671 |
| Golden Nugget Atlantic City | $34,167,048 | $34,167,048 | $0 | $3,667,705 | $5,962,900 |
| Caesars Atlantic City | $9,069,080 | $8,140,327 | $928,753 | $0 | $1,563,066 |
| Hard Rock Atlantic City | $5,690,745 | $5,690,745 | $0 | $523,174 | $999,849 |
| Tropicana Atlantic City | $4,896,780 | $4,896,780 | $0 | $0 | $856,938 |
| Bally’s Atlantic City | $3,736,523 | $3,736,523 | $0 | $647,903 | $652,445 |
| Ocean | $2,371,149 | $2,371,149 | $0 | $28,725 | $416,040 |
| Total | $135,245,169 | $132,970,884 | $2,274,285 | $10,215,035 | $23,549,143 |
NFL and college football betting spark NJ sportsbooks
Sports betting took off in September with both NFL betting and college football markets back at sportsbooks. While this explains the massive increases in monthly handle and revenue from August, the state’s books topped last September’s action, too.
The $98 million in revenue is a solid 18.9% jump from Sept. 2021’s $82 million.
Surprisingly, profits for the year don’t match where the state was 12 months ago. Revenue is currently about $41 million behind through this latest month, or down 7.3%. It could be attributed to the impact from New York mobile sports betting.
Luckily, sportsbooks have time to make up this difference in the next few months. If September was any indication, then this could be a very busy fall for sports betting operators.
Clearly, the fact that residents can once again wager on football games is crucial. The sport is by far the most popular to bet on at US sportsbooks.
It also certainly helps that all of the local teams in the area are finding success early on. The New York Giants and Jets, along with the Philadelphia Eagles, all look like contenders for postseason play.
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