The reports are in and it’s official; online gambling operators have recorded a new revenue record in December 2023, generating $180.3 million (excluding sports betting) in revenues in the final month of the year alone.
This beat the old record, which was set just a month earlier, when online gambling operators generated $171.6 million in revenues for November 2023.
December’s numbers show a 19% increase in revenue compared to December 2022 according to New Jersey Division of Gaming Enforcement’s report that was just released.
With December’s stats now in, we also have a clear picture of 2023 as a whole, with NJ online gambling generating a total of $1.9 billion in revenues for the year, a 16% year-over-year increase compared to 2022.
With online gambling in New Jersey recently celebrating its 10th year anniversary and the regulation extended for another 10 years, it appears that a bright future is ahead for the thriving sector, which has generated $7.4 billion in revenues since its inception, with about $1.1 billion in taxes paid.
- Selection of live games
- Player-friendly terms
- Quality mobile app
Online Gambling in New Jersey on the Rise
December 2023 was the record month for igaming in the state of New Jersey and the year itself was the best so far for the online gambling operators, as NJ online casinos continue to grow and take a greater share of the overall NJ gambling market.
In 2023, online casinos in New Jersey accounted for 36.7% of the total gaming revenue in the state. Land-based casinos in Atlantic City, on the other hand, accounted for 49.3% of the revenue, the lowest percentage since online casinos were first introduced back in 2013.
Online gambling sites contributed over $27 million in taxes in December alone, with the number swelling to $288.5 million for the year, demonstrating the massive contribution these operators have on the NJ economy as a whole.
In comparison, the nine Atlantic City-based casinos paid just $178.2 million in taxes generated by live gambling in 2023.
December’s Revenue Breakdown
Of the $180 million in revenues collected by the NJ online gambling operators in December, $178 million was collected from slots and table games, while just $2.27 million was accounted for by online poker games.
Golden Nugget Atlantic City, which operates brands like Golden Nugget, FanDuel Casino, BetRivers, and BetWay Casino NJ stood at the top of the charts in December, with a total revenue of $52,832,473 collected, none of which was revenue from poker tables, as none of the operators under this license run an online poker platform.
Resorts Digital, whose brands include PokerStars, DraftKings NJ, and Resorts Casino generated 46,115,541 in revenue in December, with $796,788 of that number falling to online poker.
Third place was held by Borgata and its brands BetMGM Casino NJ, Party Casino, Party Poker, and Wheel of Fortune Casino, which collectively generated $40,558,394 in revenues, with about $800,000 of that coming from online poker.
Operators working under gaming licenses by Tropicana Atlantic City, Hard Rock Atlantic City, Bally’s Atlantic City, Caesars Interactive, and Ocean all contributed significantly to the overall revenue numbers as well, while Harrah’s Atlantic City contributed just $151,058 in revenue and $22,659 in taxes paid.
With the online gambling sector continuing to grow on a monthly basis and showing a significant increase year-over-year, it will be interesting to monitor the numbers throughout 2024 and see just how far online casinos can get before reaching an all-time high and stagnation.
