New Jersey's Internet gambling market makes record $208 million plus

ATLANTIC CITY, New Jersey: New Jersey's internet gambling market hit a new high in September, with Atlantic City's casinos and their online partners winning over US$208 million, according to figures from the state Division of Gaming Enforcement.

This marks the first time monthly online gambling revenue has surpassed $200 million, highlighting the growing importance of internet gambling as in-person casino earnings continue to struggle.

Although this revenue boost is significant, it must be shared with external partners, including technology providers, meaning the casinos don't keep all of the earnings. As a result, the casinos still consider in-person gambling as their core business. However, many of them are still earning less from on-site gamblers than they did in 2019, before the COVID-19 pandemic.

Despite the overall increase, five of Atlantic City's nine casinos made less money in person last month than they did five years ago.

Nevertheless, the combined revenue from online gambling and sports betting helped push total gaming revenue for casinos and racetracks to $558 million in September, a 7.1 percent increase compared to September 2023.

James Plousis, chairman of the New Jersey Casino Control Commission, noted that September marked the third consecutive month in which total gaming revenue surpassed $500 million, a milestone that was only reached once in 2022.

Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, described the figures as "a mixed bag," pointing out that while online gambling continues to grow, brick-and-mortar casino revenues are lagging. So far this year, internet gaming has contributed 40.8% of total revenue for Atlantic City casinos.

Among the casinos, Borgata led in in-person winnings with $62.4 million, up 15 percent, while Hard Rock, Ocean, Caesars, and others saw declines. When including internet and sports betting, Borgata earned $120.2 million, and Golden Nugget saw a 25.8 percent increase with $72.8 million in total revenue.