November was a great month for the Garden State of New Jersey when it comes to sports betting. The New Jersey Division of Gaming Enforcement (DGE) reported earlier today that the total sports book handle was $1.1 billion, making it the second-highest monthly handle of 2021.
The revenue generated from NJ sportsbooks decreased by almost 30% compared to the same time period in 2021, amounting to a total of $80.4 million. Although the overall number has decreased substantially, it still ranks at No. 2 for the eleven-month period of 2022. Surprisingly enough, September’s total revenue was even higher than expected with $98 million in profits–the highest out of all months so far!
This means that by the end of 2023, NJ will likely have exceeded a grand total of $10 billion in yearly handle this year, with a current year-to-date count of just under $9.9 billion! It is impressive to see how quickly this betting statistic has grown in NJ and it speaks to the many advantages that come with online sports casinos.
NJ Online Casino Revenue Still Chasing $150 Million
The New Jersey online casino gambling industry has been targeting its first billion-dollar month as the current pace suggests that it should occur around September. However, even falling short of this milestone and only amounting to a record-breaking $146 million in August, the already mature US market still places second place all time when it comes to total earnings.
That’s not too shabby considering that more than $1.5 billion in revenue has already been generated since the beginning of the year, leading to an impressive total in taxes amounting to $226 million and counting. It appears NJ’s online casino daily fantasy is here for good.
Highlights From The New Jersey Online Casino Scene In November
- Ocean Casino Resort is making waves in the online casino industry, with its license holder registering a huge boost in its monthly total. The 109.7% year-over-year increase from $1.62 million to $3.4 million shows just how quickly its four skins – Ocean Online Casino, DraftKings Casino, Scores Game Exchange, and the recently added PlayStar Casino -are establishing their reputation for excellence.
- Tropicana Atlantic City remains an active player in the New Jersey gaming industry despite having just one skin under its license. An impressive $5.5 million was earned from their brand, currently dubbed “Caesars Casino,” easily topping the other casinos in the area that have three brands each. It’s clear that Tropicana stands out for its ability to generate success with a single skin, showcasing its successes and abilities in a crowded field of competitors. This is certainly a positive sign for owners, patrons, and residents as it will provide stability for them for years to come.
- The big three in terms of market share in Atlantic City remain the same. Although it may not come as a surprise to any, Borgata New Jersey still retains its position on top, having generated earnings to the tune of $44.3 million last year. Just slightly behind them is Golden Nugget Atlantic City at $37.7 million due mainly to the popularity of the Golden Nugget brand. In third place comes Resorts Digital with an impressive $37.4 million in profits. It appears that no other casino is quite able to match up to these established juggernauts just yet but it will be interesting to see how 2020 unfolds and whether any newcomers are able to make a dent in the status quo.
