September saw a strong performance from the New Jersey gambling industry. The Division of Gaming Enforcement released its latest financial report, which showed revenue of $558 million in September. Also, it was a 7.1 percent increase year-over-year compared to $521 million in September 2023.
Revenue also grew year-to-date, reaching $4.72 billion, a rise of 10.1% from the $4.29 billion result in the same time last year to the result in 2024. Notably, September’s overall income gain is a consequence of strong contributions from sports betting, casinos, and internet gambling, among other sources.
According to the DGE data, the sum won in online gambling last month reached $208.1 million. This figure represents a significant rise of 27.1% compared to the previous year’s September total of $163.8 million.
New Jersey Gambling Industry
The increase in internet gaming wins so far this year was also projected. By the end of September, the staggering 23.2% year-over-year growth in online gambling winnings to $1.73 billion was achieved. According to poker strategies experts, September saw a year-over-year income rise from online gambling and sports betting. The combined gross income from sports betting at casinos, racetracks, and their affiliates was $119.6 million last month, an increase of 7.6 percent over the previous year.
According to the best betting software provider, revenue growth in the land-based casino sector was the most modest last month. Despite accounting for over half of the income, casino wins had the lowest year-over-year rise. Last month’s overall casino win was $230.6 million, an increase of 6.5% from the previous year.
The most current figures show an improvement from the previous year, although they can’t be compared directly to 2019—the year before the COVID-19 epidemic. The total reported revenue stopped at $485 million in September 2022, so there was noticeable growth from then.
While some New Jersey racetracks and casinos saw an uptick in September income, others saw no change. Thirteen operators had an increase in revenue in September compared to the same month last year, while five saw a decline.
An Encore Boston Harbor Casino cheating plot resulted in the sentencing of a dealer and a gambler not long ago. The criminal case began in 2019, but the two individuals were only sentenced earlier this month. The casino operator lost an estimated $15,000 in total.
Online Gambling in New Jersey
September saw a record-breaking $208 million in online gambling profits in New Jersey, the first month such earnings surpassed $200 million. With conventional casino earnings struggling, this landmark highlights how important internet gaming is becoming to the state’s gambling scene. Owning an online sportsbook is profitable in the state.
Data from New Jersey’s Division of Gaming Enforcement shows how online gambling is changing the gaming industry in the Garden State. However, many casinos still prioritize traditional in-person gaming and must split the money they earn with external technological partners.
Internet gambling and sports betting drove overall monthly gaming income to $558 million, a 7.1% rise over the previous year. Considering that this milestone was only reached once last year, in August, it is noteworthy that this represents the third consecutive month that total gaming income has crossed $500 million. The increasing importance of online gaming to Atlantic City’s gaming ecosystem is demonstrated by its generating 40.8% of operators’ total revenue in the first three quarters of the year.
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