In 2024, the gambling revenue in New Jersey surpassed $6.3 billion, setting a new record.

In 2024, the gambling revenue in New Jersey surpassed $6.3 billion, setting a new record.

 In a record-breaking year for the state of New Jersey, gambling revenue of $6.30 billion (£5.17 billion/€6.12 billion) was reported, with all-time high figures also reported in the areas of igaming and sports wagering.
 New Jersey  April The total market revenue was 9.0% higher than the previous year's record of $5.78 billion.  The New Jersey Division of Gaming Enforcement (NJDGE) reported growth in two of the state's three sectors, with the exception of land-based casinos, which experienced a decline.

 Igaming is urging land-based casinos to close in 2024.
 igaming's revenue increased by 24% to a record-breaking $2.39 billion in 2024, making it the standout performance.  Although this falls short of the land-based market ($2.82 billion), igaming has outpaced physical casinos in recent months, and it is projected to become the primary source of wagering revenue in New Jersey by 2025.

 In 2024, online slots and table games generated approximately $2.36 billion in igaming revenue, representing a 24.5% increase from the previous year.  Nevertheless, the revenue generated by peer-to-peer poker decreased by 1.5% to $28.5 million.

 The igaming sector was dominated by DraftKings and its partner, Resorts Casino Hotel, with a total revenue of $515 million.  In second place, FanDuel and Golden Nugget Atlantic City were not far behind, with a combined revenue of $506.6 million.  BetMGM and Borgata secured the third position with $287.7 million.

 Nevertheless, Golden Nugget was the most prominent master licensee, with $688.9 million in igaming revenue.  In addition to DraftKings' Golden Nugget Online Gaming, BetRivers, Spin Games, and Jackpot City of Super Group, as well as BetRivers under Rush Street Interactive, operate variants under Golden Nugget's master license.

 The revenue generated by sports wagering in New Jersey has reached $1.09 billion.
 In the realm of sports wagering, the annual revenue increased by 8.7% to $1.09 billion.  This is yet another new benchmark for the Garden State.

 The amount of money that participants spent on sports betting reached an all-time high of $12.77 billion, representing a 6.7% increase in handle.  This encompasses a total retail expenditure of $499.2 million and $12.27 billion in online wagering.

 Consequently, the state was left with an annual sports wagering hold of 8.54%.

 FanDuel, which operates under the Meadowlands brand, achieved the highest revenue of $459.4 million.  The NJDGE does not disclose information regarding the handle of individual operators.

 DraftKings, in collaboration with Resorts Casino Hotel, secured the second position with $289.1 million.  BetMGM and Borgata, similar to igaming, ranked third with $70.7 million.

 Bet365, a Hard Rock Hotel and Casino partner, is among the other operators with $43.8 million.  Caesars Interactive followed with $31.3 million, followed by Fanatics and Bally with $22.7 million.  BetRivers and Monmouth generated $11.8 million in revenue, while ESPN Bet and Resorts Casino generated $8.7 million.

 Despite a decrease in revenue, land-based casinos remain the industry leader.
 The sole significant negative development in New Jersey during 2024 was the decline in the land-based casino sector.  Revenue decreased by 1.1% to $2.82 billion; however, it continues to be the primary source of wagering revenue in the state.

 Table games revenue decreased by 2.0% to $721 million, while physical slot machine revenue decreased by 0.7% to $2.10 billion.

 This sector was dominated by MGM's Borgata Hotel Casino & Spa, which generated a total revenue of $738.1 million for the year.  Hard Rock, the most recent casino in New Jersey, which opened in June 2018, ranked second with a revenue of $544.9 million.  Ocean Resort, which also opened in June 2018, ranked third with a revenue of $409.7 million.

 Five consecutive months of igaming milestones
 In the final month of 2024, New Jersey's total revenue for December was $522.6 million, which was only 0.1% higher than the previous year.

 Again, Igaming was the standout, as it achieved yet another record-breaking revenue of $228.0 million.  This transcends the existing record in November by 6.5% and surpasses the previous year by 26.5%.  New Jersey has established a new igaming revenue record for the fifth consecutive month in December.

 In December, DraftKings also secured the top position, generating $51.3 million in igaming revenue in partnership with Resorts Casino.  BetMGM and Borgata ranked third with $28.1 million, while FanDuel and Golden Nugget rated second with $50.1 million.

 Customer-friendly sports outcomes have influenced New Jersey wagering.
 December revenue decreased by 42.6% to $62.8 million in sports betting, as a consequence of customer-friendly sports results that have affected the entire market.  Additionally, this figure is 47.2% lower than that of November.

 The total amount of money that players spent on wagering in December exceeded $1.22 billion. Of this amount, $1.16 billion was spent online, while $52.4 million was spent at retail sportsbooks.  The handle was 4.7% lower year-over-year, but it was consistent with November.

 Consequently, the monthly hold for sports wagering was 5.17%.

 FanDuel and Meadowlands generated $29.7 million in revenue, surpassing DraftKings and Resorts Casino, which generated $15.7 million.  BetMGM and Borgata secured the third position with a combined $6.1 million.

 In contrast, Caesars generated $1.3 million, Bet365 and Hard Rock $2.9 million, and Fanatics and Bally $5.0 million in revenue.  Conversely, ESPN Bet and Resorts Casino experienced a $356,175 loss.

 Lastly, the primary source of gambling revenue, land-based casino revenue, remained essentially unchanged in December, declining by 0.3% to $231.8 million.  Revenue from slots decreased by 4.2% to $168 million, while revenue from table games increased by 11.6% to $63.8 million.

 MGM's Borgata was the most successful land-based casino, generating $62.7 million in monthly revenue.