Posted on: December 15, 2023, 04:49h.
Last updated on: December 15, 2023, 09:54h.
New Jersey online casinos experienced their best month ever in November, as gross gaming revenue (GGR) from the interactive slots and table games totaled $171.5 million.
Today, the New Jersey Division of Gaming Enforcement revealed November numbers for iGaming, sports betting, and retail play down the shore at the nine Atlantic City casinos. The monthly report was headlined by the record win online.
Online slots and tables won $169.5 million, and poker rake from internet games was slightly more than $2 million. The internet win represented a 17% bonus in November 2022 when online GGR totaled $146.1 million.
Internet gaming continues to grow in the Garden State. With a month remaining, iGaming’s GGR of $1.74 billion already exceeds the amount the online platforms won from players in all of 2022.
Golden Nugget’s online casino led the way in November with a GGR of $50.1 million. Resorts was second at $47.2 million, and Borgata was third at $37.9 million.
Casino Win Flat
Last month, Atlantic City casino revenue totaled approximately $214.9 million, a nominal 0.2% increase.
November was flat year-over-year because of poor table game wins. The felt won $54 million — down 6.5%. Slots on the nine casino floors grew revenue by almost 3% to $160.9 million.
Through 11 months, Atlantic City casino revenue totals over $2.6 billion. That’s a 1.8% premium on the same period last year and almost 6% richer than pre-pandemic January through November 2019.
Though the casinos claim higher overhead costs are eating into the 5.5% GGR increase from 2019, a talking point for the industry in its defense of efforts to eliminate smoking, the gains seemingly suggest that iGaming’s growth isn’t poaching play from the resorts.
Rather than diminishing the brick-and-mortar gaming revenues, internet gaming and sports betting seem to be well-received consumer products that are filling a niche for certain gamblers,” said Jane Bokunewicz, director of the Lloyd D. Levenson Institute of Gaming, Hospitality, and Tourism (LIGHT) at Stockton University. “There will never be a replacement for the in-person gaming experience, and the current relatively flat revenues from brick-and-mortar gaming may be simply evidence of a stable market.”
Atlantic City’s November win was its second-best November in 10 years. Year-to-date, Atlantic City casino wins are at their highest level since 2013.
Borgata, long the casino leader in Atlantic City, was again the top-grossing property with a November GGR of $51.6 million from its physical slots and tables. Hard Rock was second at $41.4 million, and Ocean was third at $31.4 million.
Record Sports Bets
New Jersey oddsmakers took record action in November, as handle — or the total money wagered — topped $1.62 billion. Year to date, the books have handled over $10.68 billion in sports bets.
Bettors lost nearly $95.9 million in November — 19% more than they lost in November 2022.
The FanDuel Sportsbook at the Meadowlands racetrack in North Jersey continued its dominance on the state sports betting market. The retail and online sportsbook won $57.6 million in November. Through 11 months, FanDuel has won about $432.5 million, 48% of the $897.1 million sportsbooks have won this year statewide.
