Online Casino Revenue In New Jersey Breaks $200 Million In A Month For First Time Ever
Total gaming revenue up 7.1% over September ’23, but retail casino win down 6.5%
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Coming off a record-setting $198.4 million in online casino revenue in August, New Jersey’s iCasino operators went almost $10 million higher in September, raking in $208.1 million, the New Jersey Division of Gaming Enforcement reported Thursday.
Eleven years after the launch of iCasino in the Garden State, revenue has finally broken the $200 million barrier, and given the way football season draws customers to their gambling apps, it’s unlikely to dip back under that mark anytime soon.
The September internet gaming win was up a whopping 27.1% over the $163.8 million reported in September 2023, and year-to-date, iGaming revenue is up 23.2%.
New Jersey sports betting revenue also rose compared to the previous September, up 7.6% from $111.1 million to $119.6 million. Retail casino win, however, continues to decline this year. Atlantic City’s nine properties took in $230.6 in on-site gaming revenue in September — just $22.5 million ahead of the iCasino number for the month — representing a 6.5% year-to-year drop in win from brick-and-mortar tables and slots.
So the folks who’ve been claiming “cannibalization” are looking sharp. However, total September gaming revenue for casinos, racetracks, and their online partners was up 7.1% to $558.3 million, demonstrating how online casino still elevates the bottom line even if brick-and-mortar revenue is trending downward.
The state took in $60.9 million in gaming tax revenue for the month, with $45.7 million of that coming from online casino and online sports betting combined.
Online casino top 10
Now that the New Jersey DGE breaks down the numbers not just by land-based partner but by individual “skin,” we can see the rankings in online casino revenue clearly:
- 1. DraftKings: $45.8 million
- 2. FanDuel: $45.3 million
- 3. BetMGM: $25.7 million
- 4. Borgata: $18.8 million
- 5. Caesars Palace: $12.5 million
- 6. Hard Rock Bet: $10.8 million
- 7. Golden Nugget: $8.9 million
- 8. BetRivers: $6.6 million
- 9. BallyCasino: $5.4 million
- 10. BetFanatics: $2.7 million
Much-publicized ESPN Bet was just outside the top 10 at $2.6 million in online casino revenue.
The state’s online poker sites pulled in $2.23 million in collective revenue, down 6.9% YoY.
On the brick-and-mortar side, Borgata remains tops in New Jersey, with $62.4 million in September revenue. That was up 15% year-over-year — the only AC casino to improve over September 2023.
Hard Rock took second place at $44.6 million, followed by Ocean Casino at $28.4 million. The rest of the properties were all fairly closely clustered, from Caesars in fourth place at $20.5 million down to Golden Nugget in ninth at $11.1 million.
Sports betting stats and rankings
Sports wagering handle for the month totaled $1.09 billion, crossing the billion-dollar mark for the first time since April, but down 16.1% from September 2023. Sportsbook revenue was $119.6 million, translating to a 9.11% hold.
Just 5.3% of the dollars wagered were spent in person — the other 94.7% of wagering took place online.
The online wagering revenue top 10 shook down as follows:
- 1. FanDuel: $48.8 million
- 2. DraftKings: $36.6 million
- 3. BetMGM: $7.8 million
- 4. Bet365: $4.8 million
- 5. Caesars: $3.8 million
- 6. ESPN Bet: $2.5 million
- 7. BetFanatics: $2.5 million
- 8. Hard Rock Bet: $2 million
- 9. BetRivers: $1.4 million
- 10. Borgata: $1 million
Notably, exchange wagering site Sporttrade absorbed a loss of $135,252 on the month.
