The New Jersey Division of Gaming Enforcement has released gaming revenue results for August 2024. The report indicates growth in most sectors, although some saw significant declines.
Atlantic City‘s nine luxury casino properties posted earnings of $294 million in August 2024, a 4.9% increase compared to $280.3 million in August 2023.
However, year-to-date, casino earnings remained stable at US$1.92 billion, consistent with figures for the same period in 2023.
Online gaming continued to expand, with earnings reaching $198.4 million in August 2024. This figure reflects a notable 27.8% growth from the $155.3 million reported in August 2023.
Year-to-date numbers for online gaming also showed robust growth. Thus, reaching US$1.52 billion – an increase of 22.7% compared to the previous year.
Gross Sports Betting Revenue in New Jersey
In contrast, sports betting gross revenue has experienced a significant decline. Casinos, racetracks and their partners reported $62.7 million in August 2024, a 34.7% drop from August 2023.
Despite this monthly reduction, year-to-date gross sports betting revenue showed an increase of 19.7%, totaling US$715.8 million, compared to US$597.9 million in 2023.
Overall, total gaming revenue from casinos, racetracks and their partners reached $555.1 million in August 2024, reflecting a 4.4% increase over August 2023.
In other words, total gaming revenue year-to-date also grew, reaching US$4.16 billion – an increase of 10.5% compared to the same period last year.
These numbers demonstrate the evolution of the US state’s gaming industry landscape, with online gaming expanding while traditional betting formats face challenges.
