January Gaming Revenue Records in New Jersey are Shattered
With sports betting income and handling setting new monthly records in January and online casino websites in NJ revenue reaching an all-time high, New Jersey has announced a great start to 2024.
In January, New Jersey’s total gambling income came to $559.1 million. This was 7.1% more than $522.2 million in December of the previous year and 28% more than $436.9 million in January 2023.
In New Jersey, land-based casinos in AC continue to be the dominant source of gaming income. Here, sales in January were $205 million, a 3.1% decrease from the previous year.
Traditionally one of New Jersey’s biggest sources of income, physical slots witnessed a 5.8% decline in revenue to $143.0 million. But revenue from land-based table gaming increased 3.7% to $62.1 million.
iGaming Achieves Record January, Closing the Land-based Deficit
In January, the land-based business had difficulties, but things in the iGaming industry are completely different. New Jersey had a 19.9% YoY increase in iGaming revenue to $183.3 million, setting a new monthly high.
A 20.4% increase in income, or $180.8 million, came from online slots. Nevertheless, online poker income decreased by 8.2% to $2.5 million.
In New Jersey, Golden Nugget Casino AC continues to top the iGaming market with $52.2 million in sales in January. With $49.3 million, Resorts Digital came in second, followed by Borgata with $42.0 million.
The Sports Betting Industry in New Jersey is Still Expanding
Changing to sports betting, January saw another record-breaking. Sports betting income for the month increased by 136.1% to a record $170.8 million from $72.3 million.
This was caused by players spending at an all-time high. January’s total handling was $1.72 billion, up 5.3% from the previous year. With retail at $47.4 million, online betting expenditures topped $1.67 billion.
With $113.0 million in revenue, Meadowlands and its partners FanDuel, PointsBet, and SuperBook are still in the lead. DraftKings and Resorts World came in second place with $40.3 million, followed closely by Borgata and BetMGM with $8.0 million.
