New Jersey’s gambling revenue soared to unprecedented heights in 2023, reaching a staggering $5.78 billion, marking a remarkable 10.9% increase from the previous year’s $5.21 billion, according to data from the New Jersey Division of Gaming Enforcement (NJDGE). This surge in revenue was largely fueled by record-breaking performances in both igaming and NJ sports betting sectors.
Despite the dominance of land-based casinos, which accounted for $2.85 billion of the total revenue, marking a modest 2.2% increase from the previous year, there was significant growth across all three core markets. Retail slots revenue saw a notable 3.3% increase to $2.11 billion, while table games revenue experienced a slight dip of 0.7% to $736.2 million, making it the only subsection to report lower revenue in 2023.
Igaming emerged as a major contributor to the state’s revenue, nearing the $2 billion mark with a record-breaking $1.92 billion in revenue, marking a substantial 15.7% increase from the previous year. Within the igaming sector, online slots revenue saw an impressive surge of 15.9% to $1.89 billion, while peer-to-peer poker increased by 5.6% to $28.9 million. Golden Nugget led the igaming market with $524.8 million in revenue, closely followed by Resorts Digital with $507.8 million and Borgata with $489.9 million.
In another historic milestone, sports betting revenue surpassed the $1 billion mark for the first time, reaching $1.01 billion, a remarkable 31.9% increase from 2022. This surge was fueled by a higher spend among players, with total wagers amounting to $11.97 billion, a 9.5% increase from the previous year. Meadowlands, along with partners FanDuel, PointsBet, and SuperBook, led the sports betting market with $483.6 million in revenue, followed by DraftKings and Resorts World with $314.5 million, and Borgata and BetMGM with $82.7 million.
The year ended on a high note, with December seeing a 14.8% increase in total market revenue to $522.2 million. Land-based casinos saw a 7.8% increase in revenue to $232.4 million, driven by a 13.9% jump in slots revenue, while igaming revenue surged 19.1% to $180.3 million, led by Golden Nugget with $52.8 million in revenue. Sports betting revenue also experienced a significant boost, increasing by 24.8% to $109.4 million, with Meadowlands and its partners leading the pack once again with $51.1 million in revenue.
Have them reinstate C.O.L.A That was taken away from LEO’S years ago. After Christy Whitman robbed out pension that the state is still paying back. Out retired officers should not have to live paycheck to paycheck. Especially now that illegals are getting free money. Out veterans need assistance also.