New Jersey Casinos Post Strong Revenue Results in November

On Friday, the gambling regulator revealed that last month, the total gaming revenue reported by casinos, racetracks and their partners hit $441.1 million.

New Jersey Gaming Win Hits $441.4M in November

This result marked a slight 0.3% increase when compared to the $439.6 million reported for the same period in 2021. Focusing on the bigger picture, year-to-date results until the end of November showed that revenue was $4.76 billion. This result marked a strong 9.8% increase when compared to the $4.33 billion reported for the corresponding period last year. More importantly, the year-to-date total gaming revenue this year surpassed the $2.5 billion result reported in pre-pandemic 2019.

Last month, licensed gambling operators paid a total of $45.8 million in taxes, marking a slight increase month-over-month compared to the result from October when taxes halted at $45.5 million. DGE’s latest result reveals that year-to-date taxes hit $478.7 million.

Internet Gaming and Casino Revenue Rises

A breakdown provided by the gambling regulator reveals that casino win in November this year hit $214.5 million, marking a 3.7% increase or $7.6 million more when compared to the $206.9 million reported for November 2021. Additional details reveal that table games win last month increased significantly by 10.9% to $57.9 million, while slot machine win marked a 1.3% increase to $156.7 million.

Internet gaming win soared last month, judging by details released by the DGE. Overall, the internet gaming win hit $146.2 million, up by 23.9% or $28.2 million more than the result from the same period last year.

Reports Betting Revenue Plummets

In contrast to the positive results from casino win and internet gaming, sports wagering revenue decreased. Last month, sports wagering revenue hit $80.4 million, marking a staggering 29.9% drop compared to the result from November 2021 when the revenue hit $114.8 million.

Judging by the latest report, the betting handle reported by sports betting operators in November hit $1.10 billion. Not unexpectedly, the majority of the handle was reported by internet sports wagering operators which was $1.03 billion, while retail sports betting operators saw only $69 million in betting handle.

Year-to-date total sports wagering handle was $9,889,036,983. It’s no surprise that the year-to-date online betting handle was $9.14 billion, while retail wagering was responsible for only $745.8 million.