New Jersey online casinos generated nearly $1.5 billion through the first 11 months of 2022, setting a new record for revenue with one month left.
Revenue is already up 11% year-over-year without December’s revenue figures from the New Jersey Division of Gaming Enforcement (NJDGE). Perhaps even more impressive is that revenue has more than tripled since 2019, the year before the pandemic.
But NJDGE data also show that the year-over-year growth rate is slowing — online casino revenue more than doubled between 2019 ($461.8 million) and 2020 ($931.6 million), but grew 43.5% year-over-year between 2020 and 2021 ($1.3 billion).
The market remains strong. According to the NJDGE, revenue hit a record $144.9 million in October and fell just short of a new record in November at $144 million.
Both months are more than the $125.1 million in online casino revenue from the 2015 calendar year.
- Generous welcome bonus
- $25 in no deposit funds
- Excellent live casino
How Much Will Revenue Total in December?
We know New Jersey will set a record for annual revenue from online casino gaming in 2022.
What isn’t known is how much revenue will be made in the last month of the year. The NJDGE is scheduled to release revenue figures for December 2022 on January 17, 2023.
If the last two years are any indication, December 2022 should be an excellent month for revenue. In December 2020, online casino operators in New Jersey made $96.4 million. The following year, they made a then-record $130.9 million — 2021 still stands as an all-time best for the month of December.
A similar performance in December 2022 could result in about $1.6 billion in revenue for the full-year 2022, an increase of about 21% year-over-year.
December hasn’t always been the best month for revenue, but it has been most of the time. In the nine years when the market was open for December, the last month of the year was tops for revenue six times — in 2013, 2015, 2016, 2018, 2020, and 2021.
Revenue across all nine Decembers averaged $40.3 million. But excluding the two most recent Decembers, which were boosted by the pandemic, the average falls to $19.3 million.
- Big welcome bonus
- $20 in freeplay funds
- Variety of jackpot slots
Borgata Casino NJ Maintains Grip on Top Spot
It’s been a good year for Borgata Casino NJ — having dominated its rivals in revenue for every month of 2022. It led the vertical again with a record $43.8 million in revenue in November, up 7.9% month-over-month ($40.3 million).
Golden Nugget Casino NJ and Resorts Casino NJ were neck-and-neck for revenue. Golden Nugget was second overall with $37.7 million in revenue, while Resorts was third with $36.8 million, its second-best month on record.
Since the market launched, Resorts has led Golden Nugget only once in terms of monthly revenue — in October, when Resorts hit a record $38.8 million, and Golden Nugget was a step behind at $38.4 million. Resorts was down 5.1% month-over-month, while Golden Nugget was down 1.8%.
Together, the top three of Borgata, Golden Nugget, and Resorts accounted for 82% of the market in November.
Of the five smaller operators, Caesars Casino NJ was far ahead of the group with $7.3 million in revenue. Tropicana Casino NJ was a distant fifth place overall with $5.5 million. Hard Rock and Bally’s Atlantic City were next at $5 million and $4.8 million, respectively. Ocean Resort was last with $3.4 million.
Bally’s and Ocean also hit records for revenue in November.