The Division of Gaming Enforcement (NJDGE) of New Jersey has published its most recent report, which shows a notable increase in overall gaming income for the month of February across all of its casinos, racetracks, and related partners.
A notable 12% gain over the prior year was seen in February’s overall gaming income, which soared to $461.5 million. New Jersey’s overall gaming income surpasses $1 billion in 2024 thanks to its strong performance, surpassing the previous year’s milestone. These are some great figures along with New York’s sports betting revenue which surpassed $1.55 Billion earlier this year.
Diverse Revenue Streams
Examining the breakdown, it can be seen that the state’s monthly revenue is mostly contributed by casino revenue. On the other hand, it decreased slightly by 1.6% to $211.6 million. Within this sector, earnings from both slot machines and table games decreased.
Conversely, internet gaming became the most notable performer, with an astounding 27.9% gain over the same time in 2023. A $39.7 million rise in income from other approved games helped to offset the $182.3 million surge in earnings from online gambling.
Sports betting, on the other hand, continued to show promise as revenue increased by 23.7% to reach $67.6 million in February. This indicates the persistent interest and involvement of bettors.
With $98.1 million in gaming revenue overall, Borgata continued to be the highest-earning casino licensee, despite a 3.1% decline. Conversely, Resorts Digital had an extraordinary upswing, announcing a 49.7% rise in overall gaming income, amounting to a noteworthy $72.3 million.
The gaming business in New Jersey is resilient and dynamic, as seen by the overall trend of expansion, even in the face of volatility in individual performances. Stakeholders are hopeful about the sector’s future potential and economic contribution to the state as it continues to change.
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