Last year, internet and land-based monthly gaming revenue in New Jersey eclipsed $500 million only once. In contrast, September 2024 was the third consecutive month in which that threshold was breached, revealing a growing sector of digital gaming growth in the Garden State market.
Internet Gaming Soaring
Digital wagering, including iGaming and online sports betting, exceeded $200 million in monthly revenues for the first time in New Jersey’s online gambling history. September’s report issued by the New Jersey Division of Gaming Enforcement showed digital wagering contributed $208 million to the combined $558 million monthly haul that includes in-person casino and sports betting. This is a 7.1% increase from September 2023.
“The ongoing success of internet gaming helped push Atlantic City’s total gaming revenue to its highest figure for the month of September in over a decade,” said James Plousis, chairman of the New Jersey Casino Control Commission. “For the third consecutive month, total gaming revenue surpassed $500 million. Last year, total gaming revenue eclipsed $500 million only in August.”
In-person gambling is the lifeblood of New Jersey’s Boardwalk casinos, as they do not have to share any profits with outside partners as they do with revenues produced via internet gaming platforms. September’s metrics revealed the nine casinos delivered a combined $6 million more than in pre-Covid September 2019.
Casino Numbers
However, if we delve deeper into the numbers, we see that only four of the nine casinos made more money this September than five years ago. Some industry pundits have speculated the growth in the online gambling sector, having accounted for nearly 41% of the total revenue for Atlantic City operators over the first three quarters of this year, could portend a steady decline of in-person betting moving forward.
Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City gambling market, said September’s numbers were “a mixed bag,” citing digital revenues that “seemed to leave brick-and-mortar gaming revenues behind.”
“Year-to-date, internet gaming continues to represent a significant share of Atlantic City operators’ revenue mix, contributing 40.8% of the total revenue for the industry through the first three quarters of the year,” she said.
Borgata Leads the Pack
When it comes to New Jersey’s most popular casino, the Borgata continues to carry the torch in Atlantic City. September’s numbers bolster that contention as the MGM property generated more in-person and internet revenues than all its Boardwalk competitors.
In-Person Revenues in September (year-over-year trend in parentheses):
- Borgata: $62.4 million (+15%)
- Hard Rock: $44.6 million (-4.7%)
- Ocean: $28.4 million (-28%)
- Caesars: $20.5 million (-4.1%)
- Harrah’s: $18.6 million (-16.3%)
- Tropicana: $17.9 million (-16.3%)
- Resorts: $14.3 million (-3.9%)
- Bally’s: $12.5 million (-4.4%)
- Golden Nugget: $11 million (-12.5%)
In-Person & Internet Gambling Revenues Included (year-over-year trend in parentheses):
- Borgata: $120.2 million (+12%)
- Resorts: $106.5 million (-3.4%)
- Golden Nugget: $72.8 million (+25.8%)
- Hard Rock: $64.4 million (+10.8%)
- Ocean: $33.9 million (-24%)
- Bally’s: $24.1 million (+19.2%)
- Caesars: $20.6 million (-3.4%)
- Harrah’s: $18.7 million (-16.6%)
- Tropicana: $18.1 million (-16%)
