New Jersey internet gambling revenue surpasses $214 million

ATLANTIC CITY, New Jersey: New Jersey's internet gambling market reached a new high in November, with online gaming revenue surpassing US$214 million, narrowly beating October's record of $213 million, according to the New Jersey Division of Gaming Enforcement.

"The continuing success of online gaming and sports wagering has helped total gaming revenue achieve its best November monthly result in over a decade," said James Plousis, chairman of the New Jersey Casino Control Commission.

While internet and sports betting have boosted overall gaming revenue, they aren't as profitable for casinos. A significant portion of the earnings goes to sportsbook and tech platform partners, leaving in-person gambling as the primary revenue driver for Atlantic City casinos.

In November, in-person gambling revenue across all nine casinos matched pre-pandemic levels from November 2019, totaling $223.9 million. However, only three casinos - Hard Rock, Ocean, and Resorts - saw an increase compared to pre-pandemic figures.

The surge in online gambling, accelerated by the pandemic, remains a strong trend. November's internet revenue was up nearly 25 percent year-over-year, marking the third consecutive month it exceeded $200 million.

Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, highlighted the sustained growth of online gambling in the state.

When combining internet gambling and sports betting, New Jersey casinos, two horse tracks, and their online partners brought in $556 million in November, a 15.4 percent increase from a year earlier.

Among individual casinos, Borgata led with $122.6 million in total revenue, a 25 percent increase from the previous year. Resorts followed with nearly $101 million, up 28 percent, while Golden Nugget earned $77 million, up 26 percent.

Sports betting revenue reached nearly $119 million on $1.2 billion in wagers. Meadowlands Racetrack generated $50.5 million, down 12.3 percent from last year. Resorts, partnered with DraftKings, saw its sports betting revenue nearly double to $38 million.

Monmouth Park recorded $2.5 million in sports betting revenue, a 163 percent increase bolstered by the recent shutdown of operations at the competing Freehold Raceway.