NJ Casino Revenue Soared in May, Betting GGR Declined

The New Jersey Division of Gaming Enforcement published its report about the gaming industry’s performance in May, highlighting increases across the casino and iGaming sector amid a monthly decline in sports betting.

The total gaming revenue reported by casinos, racetracks and their partners stood at $510 million for May 2024, up 8.3% year-on-year. The state’s year-to-date total gaming revenue stood at $2.57 billion, marking an increase of 13.1%.

For reference, NJ’s gambling industry reported total gaming revenue of $470.9 million in May 2024 and $2.57 billion for the prior year-to-date period.

Casino Revenue Increased

According to the regulator, the state’s nine casino hotels published total revenue of $239.1 million for May 2024, marking an increase of 5.2% from the $227.3 million reported in May 2024.

Additionally, the division reported year-to-date casino win of $1.11 billion, which is more or less in line with last year’s results for the same period of time.

The biggest winners were the Borgata and Hard Rock Atlantic City. The former property reported $61.3 million in GGR for May and $287.5 million for the year-to-date period. Hard Rock, on the other hand, reported $49.9 million in GGR for May and $213.8 million for the year-to-date.

iGaming Is Still Going Strong

When it came to iGaming, New Jersey’s casinos and their online partners reported a win of $192.1 million, up 19% year-on-year. For comparison, the online casino sector reported $161.4 million in revenue in May 2023.

In terms of year-to-date results, iGaming operators posted revenue of $942.8 million, reflecting growth of 20.6% year-on-year. In the prior year-to-date period, New Jersey’s casinos and their online partners reported a win of $781.5 million.

The biggest winners in terms of iGaming were Golden Nugget with $54.5 million in monthly GGR and $268.4 million in YTD GGR, Resorts Digital Gaming with $49.2 million in monthly GGR and $242.9 million in YTD GGR, and the Borgata with $43.9 million in GGR for May and $213.9 million in GGR for the year-to-date period.

Sports Betting Declines Despite YTD Growth

Last but not least, declined 4.2% to $78.8 million from $82.2 million in May 2023. Sports wagering gross revenue reported by casinos, racetracks and their partners stood at $513 million for the year-to-date period, marking an increase of 37% year-on-year. For context, NJ’s betting industry reported $374.6 million in YTD revenue in the prior year-to-date period.

In terms of the top winners, New Meadowlands Racetrack, which partners with FanDuel, PointsBet and SuperBook, posted a total betting GGR of $36.5 million. Resorts Digital Gaming, on the other hand, posted a GGR of $22 million through its partnership with DraftKings. Borgata Hotel Casino & Spa, a partner of BetMGM, meanwhile, reported a GGR of $5.6 million for May.

More data about the NJ operators’ performance is available on the New Jersey Division of Gaming Enforcement’s official website.