New Jersey iGaming Revenue Jumps, Surpasses Land-Based Gaming

New Jersey has published information about the local gaming sector’s performance in October, once again recording iGaming revenue growth. While the land-based casino sector experienced a slight decline, online gaming recorded record-breaking metrics.

iGaming Continues to Excel

Per the New Jersey Division of Gaming Enforcement’s official report, iGaming continued to excel, surpassing the revenue recorded by the traditional casino sector for the first time since the COVID-19 pandemic.

The pandemic itself is widely believed to be at least somewhat responsible for the mass exodus toward the online gaming sector, causing an unprecedented surge in iGaming even long after the COVID restrictions have been lifted.

As one of the few states offering legal iGaming, New Jersey is perfectly positioned to capitalize on this trend and continue evolving its online casino ecosystem. While iGaming is usually associated with costs related to the NJ operators’ agreements with their betting partners and tech providers, operators have so far been happy to woo customers with cutting-edge online offerings.

According to James Plousis, chair of the New Jersey Casino Control Commission, the fact that iGaming revenue has surpassed in-person casino revenue is a major development. This and the fact that October was the second month in a row in which iGaming revenue has exceeded $200 million, were labeled “emblematic accomplishments” by Plousis.

New Jersey iGaming Offset Traditional Gaming’s Decline

Talking numbers, the New Jersey Division of Gaming Enforcement reported $213.6 million in iGaming revenue in October, beating September’s record of $208 million. As mentioned, this figure surpassed the overall land-based casino win, which stood at $208.7 million for the period, marking a decrease of 8.5% when compared to October 2023. Sports betting revenue, meanwhile, stood at $77.5 million, reflecting a 16% decrease year-on-year.

In total, New Jersey reported total gaming and betting revenue of $499.8 million for October, reflecting a slight 2.6% increase year-on-year. For year-to-date, the local industry reported total gaming revenue of $5.22 billion, up 9.3% year-on-year.

In summary, land-based gaming and betting’s decline was offset by the continued growth of iGaming. For reference, Borgata, Hard Rock and Ocean were the only casinos where in-person gambling remained more popular.