New Jersey’s gaming industry set a new record for revenue last year, with nearly $5.8 billion in combined win for casinos, sports betting and online gaming setting a new record.
Numbers released by the New Jersey Division of Gaming Enforcement show that the casinos, three horse tracks that have sports betting, and their online partners won $5.77 billion in 2023, surpassing the state’s all-time high of $5.2 billion reached in 2006 and matched last year. It also was an increase of 11 percent from 2022.
Half of that money came from iGaming and sports betting. Internet gaming brought in over $1.9 billion last year, up nearly 16 percent from last year.
All but three of Atlantic City’s nine casinos are still winning less money from in-person gamblers than they did before the Covid-19 pandemic. Money won from internet gambling and sports betting is shared with other parties including tech platforms and sportsbooks, and is not solely for the casinos to keep.
Only Borgata, Hard Rock and Ocean won more from in-person gamblers last year than they did in 2019, before the pandemic broke out. Collectively, the casinos surpassed 2019 levels with $2.8 billion won from in-person gamblers, but that was accomplished largely on the strength of the three newest casinos.
However, James Plousis, chairman of the New Jersey Casino Control Commission, said in an interview with the Associated Press that there is plenty to be upbeat about in the latest figures.
He noted that in-person casino winnings were the highest in a decade, internet gambling revenue surpassed 2022’s record by more than 15 percent and sports wagering revenue set a yearly record as well.
“New Jersey’s vision for a vibrant and competitive Atlantic City is coming to fruition after the addition of online gaming and sports wagering,” he said.
