Gambling News

October Sees New Jersey Gaming Revenue Soar to $487.1 Million

New Jersey's gaming revenue in October was $487.1 million, a 9.3% increase from the previous year. Casinos, internet gaming, and sports betting were significant contributors. The state's burgeoning gaming sector has grown by 10.6% so far this year, with a 52% increase in online gaming and a 53% increase in land-based wins at Ocean Casino. 

October Gaming Revenue in New Jersey Achieves $487.1M, a 9.3% YoY Increase

The state's gaming revenue for October is made public by the New Jersey Division of Gaming Enforcement. The state reported $487.1 million among casinos, racetracks, sportsbook offerings, and their online affiliates, a 9.3% increase over October 2022. 

The nine Atlantic City casino hotel properties brought in a total of $228.1 million in revenue, an increase of 3.4% over their October 2022 earnings of $2220.6 million. At a 13.3% annual rate, the estimated earnings from online gaming amounted to $136.8 million. The gross revenue from sports betting grew by $14.4 million, from $77.9 million to $92.3 million.

Wins at New Jersey Casinos: A Variety of Shows Drive a 10.6% YoY Increase in Revenue

The land-based winners were: Ocean $43.4 million, up 53%; Bally's $12.4 million, up 15%; Borgata $56.8 million, down 8.9%; Caesars $14.4 million, down 18%; the Golden Nugget $12.2 million, up 1.6%; Hard Rock $41.2 million, up 5.8%; Harrah's $17.8 million, down 12%; and Tropicana $16.4 million, down 5.6%.

Bally's won $19.7 million, up 27%; Borgata $100.3 million, down 11%; Caesars $14.9 million, down 17%; Golden Nugget $61.5 million, up 22%; Hard Rock $51.8 million, up 17%; Harrah's $17.8 million, down 12%; Ocean $48 million, up 52%; Resorts $13.2 million, up 2.4 percent; and Tropicana $28.1 million, up 11% when money from online gambling and sports betting is taken into account.

In comparison to its $58 million win the previous year, Resorts Digital made $61.3 million, or 8.5% more. Compared to the winning haul of $9 million from the previous year, Caesars only received $6 million, meaning they lost 3. In comparison to the $4.32 billion they made in the same period last year, casinos, racetracks, and their partners have now made approximately $4.77 billion from gaming, a 9.0% increase.