land-based struggles offset by igaming

New Jersey continues to accelerate towards yet another record breaking year, as September’s financial figures highlight that igaming and sports wagering increases have once again offset a land-based decline.

Total gaming revenue reported by casinos, racetracks and their partners through September came in at $521.5m, up 7.5 per cent year-on-year from $485m. For the year-to-date, the region closed at $4.29bn, which is 10.8 percentage points ahead of $3.87bn.

Figures released by the region’s Division of Gaming Enforcement show that online casinos and poker rooms are up 21.1 percentage points to close the month out at $163.8m (2022: $135.2m). For the nine months of the year thus far, igaming is 15.4 per cent ahead at $1.41bn (2022: $1.22bn).

However, the chasing pack have finally succeeded in toppling the long standing leader within the Garden State, as Resorts Digital took top spot. This is courtesy of a 32.9 per cent uptick to $45.43m (2022: $34.19m).

This saw the online entity narrowly edge out Golden Nugget’s $45.12m, up 32.1 per cent from $34.16, with Borgata down two places to third after revenue closed the month at $41.57m, up 1.1 per cent from $41.11m.

Despite the maintained online optimism, the land-based gaming ecosystem continues to slide, with September down 2.1 per cent to $246.5m (2022: $251.7m). For the YTD, the nine casino properties still sit slightly ahead at $2.17bn, a 1.8 per cent rise YoY from $2.13bn.

Borgata wasn’t edged out here, with revenue of $54.27m, down 12.9 per cent from the previous year’s $62.33m, enough to remain at the summit.

Hard Rock trailed once again, but remained some way back despite rising 7.3 per cent to $46.84m (2022: $43.67m), while Ocean Casino rounded off the top three with $39.52m, a 29.2 per cent increase YoY from $30.59m. 

Per casino vertical, slot machines recorded revenue of $182.7m, down two percentage points, while table games earned $63.81m, a drop of 2.2 per cent from the $65.26m recorded one year earlier.

In addition, the region’s sports wagering handle closed the month at $1.29bn, with online contributing $1.25bn of that figure. The state’s sportsbooks gained $111.14m in September gross revenue, which is up 13.4 per cent YoY from $97.98m. For the year, sports betting is 37.2 per cent ahead at $709m (2022: $516.91m).

Looking at the monthly figures a little closer, Resorts Digital came out on top with revenue of $49.85m (2022: $22.41), ahead of Meadowlands’ $34m (2022: $46.64m) and Borgata’s $11.54m (2022: $10m).

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