New Jersey Online Casinos Generate Record-Setting $183 Million in January Revenues

02/20/2024
Industry
Online Casinos New Jersey

Highlights

  • January 2024 brought in $183.3 million in revenues.
  • The year-over-year increase reached almost 20%.
  • The month generated over $27 million in taxes.

After a busy and rewarding year, New Jersey online casinos kick off 2024 with a bang. The Division of Gaming Enforcement has released the January iGaming totals, and the state saw an almost 20% increase for the year, with $183.3 million in earnings. The online gaming sites hit a new record again, with the new year set to be even bigger than 2023!

Huge Gains from Last Year  

The data shows that a major milestone was hit again, with online casinos seeing a fourth consecutive month with a record earnings total. From the month, the state earned $27.4 million in tax payments, based on a 15% return.

Online gambling operators hit just over $180 million in December, so January was an even bigger month with over $183 million. The growth is massive when you consider that November brought in over $171 million, and October saw a return of $166 million.

Last year, online casinos brought in over $1.92 billion, which is a 16% increase from the previous year. If the next few months continue to show gains, we could see an even bigger increase for 2024. Online casino gaming first entered the state in 2013, and the first decade has been successful. The trend is increasing as more players take advantage of online casino gaming options like slots and table games.

Operator Earnings for January 2024 

In New Jersey, the gaming regulators do not list revenues based on individual providers. Instead, the breakdown is completed with the license holder. One license holder may have several sites operating under its umbrella, so players only have an idea of what’s on offer.

We can see that Golden Nugget has the highest earning total for January based on the earnings totals. The brand and its partners, including BetRivers, FanDuel, and Betway, brought in just over $52 million for the month. This was a huge boost from last year of 29%.

Coming in next was Resorts Digital, with $49.3 million in earnings. The license holder operates with PokerStars, Resorts Casino, DraftKings, and Mohegan Sun. The monthly total resulted in a 22.5% boost from last year.

Borgata Hotel Casino & Spa comes in next with $42 million in earnings. This was a slightly bigger year-over-year total at around 3%. Borgata works with BetMGM, Pala, Party Casino and Poker, and Wheel of Fortune Casino.

Big Jump from 2023 

On the lower end, several operators did not generate as much earnings, but saw a huge turnaround from 2023. This includes Bally’s, Hard Rock, and Ocean Casino Resort. Each brand saw a nice increase in earnings when compared to last year.

Bally’s saw the biggest jump, earning $8.6 million, an increase of over 62%. Hard Rock was next with $9.4 million in earnings. This was a 55% increase from last year. Ocean Casino was also up with $5.7 million in revenues, a 45% increase from last year.

Tropicana was also in the black, with a more than 31% increase in earnings, at $10.3 million. Caesars was the only license holder to see a huge drop, with $5.7 million in earnings. The total percentage decrease from 2023 came in at 30.2%.

Having started in 2005 as an online writer, Sadonna has focused on the online gambling industry, with a keen knowledge of various subjects. Sadonna has followed the growing US-based gambling industry for decades, covering all the legal changes in the nation as well as information on land-based and online casinos. She enjoys updating fellow gamblers on new games, casino bonuses, and additional information for premium gaming services. In her spare time, Sadonna loves spending time with her family and singing on Smule. Sadonna hopes to continue working in the online gambling industry and building quality articles for players to learn more about the US market.