New Jersey's internet gambling market continues to thrive, setting a new record in October. Data from the New Jersey Division of Gaming Enforcement reveals that the casinos and their online partners generated $213.6 million in revenue, surpassing the previous record of $208 million set in September.
When considering in-person casino winnings, internet gambling, and sports betting revenue, the total earnings for the nine casinos, two horse tracks, and their online partners amounted to just under $500 million in October, marking a 2.6% increase from the previous year.
However, it is important to note that internet and sports betting revenue is not entirely retained by the casinos, as it must be shared with external parties such as sportsbooks and tech platforms. This distinction underscores the significance of in-person customer earnings as the core business for casinos.
Despite the overall revenue growth, two-thirds of the casinos experienced a decline in in-person gambling revenue compared to October 2019, before the onset of the COVID-19 pandemic. Only three casinos—Borgata, Hard Rock, and Ocean—saw an increase in earnings from in-person gamblers last month.
The shift towards internet gambling and away from traditional in-person casino gambling has been accelerated by the pandemic and is now a prominent feature of New Jersey's gambling landscape. Experts, such as Jane Bokunewicz from Stockton University, highlight this trend, noting that brick-and-mortar gaming operators in Atlantic City did not see substantial gains in October, with an 8.5% year-over-year decline in revenue.
However, the total revenue for the casinos saw a significant uptick of over 9% from the previous year, largely attributed to the record-breaking streak in internet gaming. James Plousis, chairman of the New Jersey Casino Control Commission, emphasized the growing importance of online gaming in the casino industry, noting that internet revenue surpassed in-person casino revenue for the first time in October.
In terms of in-person gambling revenue, Borgata led with $53.4 million, followed by Hard Rock with $40.8 million and Ocean with $32.8 million. When factoring in internet and sports betting revenue, Borgata remained at the top with $106.1 million, followed by Resorts with $88.7 million and Golden Nugget with $76.7 million.
Overall, the continued success of New Jersey's internet gambling market underscores the evolving nature of the casino business, with online gaming playing an increasingly vital role in driving revenue and shaping the industry's future.
