NJ Gambling Operators Post Strong Results for December and 2022
The New Jersey Division of Gaming Enforcement (DGE) released its latest report outlining the gaming industry has seen strong performance in 2022
On Tuesday, the gambling regulator in the state released the gaming results for December 2022 and the year-to-date results, showing the gambling industry enjoyed strong performance not only in December but for the full year as well.
New Jersey Gambling Operators Enjoy Strong Performance in December
Judging by the latest figures, the total gaming revenue reported by casinos, racetracks and their partners in December 2022 hit $454.8 million. When compared to the same period in 2021, when the total gaming revenue halted at $404.1 million, an increase of $50.7 million or 12.5% was observed in December 2022.
A breakdown provided by the DGE reveals that the result in December received a significant boost from sports wagering revenue. In total, sports wagering revenue last month hit $87.7 million, up 48.5% or $28.7 million when compared to the $59 million result from December 2021.
Additionally, online gambling operators contributed significantly toward the result in December. Overall, the internet gaming win increased by 13.7% to $151.5 million in December 2022. A breakdown of that total showed that peer-to-peer revenue dipped by 7.1% to $2,2 million, while the win from other authorized games increased by 14.1% to 149.3 million.
While sports betting and internet gaming revenue soared, casino win increased slightly in December. The DGE’s latest report revealed that casino win last month hit $215.6 million, representing a slight increase of 1.8% when compared to the corresponding period the previous year.
Total Gaming Win For 2022 up by 10%
On the other hand, the gambling regulator released data regarding the overall performance of the gaming industry in New Jersey. Judging by the latest results, the total gaming revenue reported by casinos, racetracks, sportsbooks and online gambling operations in 2022 hit $5.21 billion. This result represented a significant increase of 10% when compared to the $4.74 billion in total gaming revenue reported for 2021.
Although in December, sports wagering revenue increased, the year-to-date results showed a slight decrease. In total, sports wagering revenue in 2022 was $763 million, down by 6.5% when compared to the $815.8 result from 2021.
Still, internet gaming win soared by reporting $1.66 billion for 2022, up by 21.6% when compared to the same period the previous year. Last but not least, casinos performed well last year, judging by the new report. Overall, casino win in 2022 increased by 9% when compared to 2021, hitting $2.79 billion.
William Velichkov is a research-driven writer. His strengths lie in ensuring factual accuracy, vetting government documentation and reaching out to regulators and other officials. He is particularly fond of financial reporting, the sports betting industry, B2B partnerships and esports betting developments. William is a strong asset to the GamblingNews team as he adds a bedrock to our reporting.
