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New Jersey internet gambling revenue improved year-over-year in February but was down from January, ending the state’s string of record revenue months at four.
Online casino win for February was $182.3 million, showing a slight monthly decrease, according to the New Jersey Division of Gaming Enforcement’s (DGE) report.
The results from February’s total gaming revenue of $461.5 million include:
- NJ land-based casinos
- NJ online casinos
- Sportsbooks
- Racetracks
The total revenue from all gaming is a 12% increase from February 2023 but a 17.5% drop from January.
New Jersey iGaming revenue drops by a half-percent
As mentioned, NJ online casinos and their partners won $182.3 million in February. The figure fell just $1 million short of continuing the four-month streak of record iGaming revenue:
- $183.3 million reached in January for NJ online casino revenue
- $180.3 million in NJ online casino revenue for December 2023
- $171.6 million set in November
- $166.8 million made in October
Although February iGaming revenue represents a 27.9% annual increase, it is a 0.5% monthly drop from January’s $183.3 million.
Three NJ online casino licensees accounted for more than 76.5% of February’s total iGaming win:
- Golden Nugget: $51.5 million
- Resorts Digital: $48.0 million
- Borgata: $40.0 million
NJ land-based casinos see revenue downturn monthly and yearly in February
New Jersey’s nine physical casinos won $211.5 million from in-person gamblers, down 3.2% from January and 1.6% from the same month in 2023.
According to an Associated Press article, Jane Bokunewicz, faculty director of the Lloyd D. Levenson Institute of Gaming, Hospitality, and Tourism (LIGHT), at the Stockton University School of Business, said:
“Remote gaming options continue to be critical for Atlantic City’s gaming operations, especially in the shoulder months when seasonal weather patterns are most likely to keep gamblers at home. Despite an extra day in the month, a wet and wintry February kept brick-and-mortar revenues for Atlantic City casinos modest.”
NJ sports betting numbers decreased by 60% from January
During the 29 days of February, which included Super Bowl LVIII, NJ sports wagering gross revenue reached $67.6 million.
According to the DGE’s February 2024 gaming report, the number reflects a 23.7% increase compared to the $54.6 million reported in February 2023. However, it is a 60.4% decrease from a staggering $170.8 million in January.
Almost $1.1 billion in total sports bets were made in New Jersey in February, out of which:
- $1,043,234,576 came through online sportsbooks
- $37,937,259 came through retail locations
While NJ casinos kept $67.6 million in revenue, racetracks won nearly $33.6 million.
