In October 2024, internet gambling revenue in New Jersey hit $213.6 million, setting a new record after edging out September’s $208 million benchmark. This marks a 28.1% rise compared to October 2023, showing strong gains for online platforms. Meanwhile, in-person casino revenue totaled $208.7 million, falling behind internet gambling revenue for the first time (outside of pandemic-related closures).
Year-to-date, combined gaming revenue across all verticals reached $4.7 billion, driven by online gambling performance. The total revenue for October, which includes in-person, online, and sports betting, came to $461.7 million—a yearly increase of 9%.
Among individual operators, Borgata remained the top earner, generating $106.1 million across its internet and sports betting platforms, an increase of 5.8%. Resorts followed with $88.7 million (up 19%), while Golden Nugget saw a 25% improvement, bringing in $76.7 million.
However, Ocean experienced a near 19% drop, with overall revenue dropping to $39 million. In the land-based casino market, seven of nine casinos reported decreases compared to October 2023. Borgata led in-person earnings at $53.4 million, but this marked a 6.1% yearly decline. Ocean suffered the largest dip at 24%, with revenue sliding to $32.8 million. Of the big names, Tropicana and Caesars were the only properties showing positive trends in in-person revenue.
October’s record-breaking performance for online gambling in New Jersey showcases how platforms are meeting different player preferences. Established operators like Golden Nugget and Borgata continue to capture large portions of the market, while others, such as Hard Rock demonstrate growth-oriented strategies through newer digital offerings. Many players gravitate toward popular options, but smaller platforms gaining traction also contribute to the state’s surging revenues.
Examples like US sweepstakes casinos, which operate under different laws compared to traditional online casinos, highlight another aspect of the market. Combined with New Jersey sportsbooks and broader internet offerings, these alternatives provide unique additions to the driving trends in iGaming revenue.
The total sports betting handle for October 2024 came in at $1.13 billion, making it the sixth month this year the state surpassed the billion-dollar mark in wagers. Still, compared to October 2023, the handle reflects a 12.5% decline. Even more concerning were revenue figures, which dropped 16% year-over-year to $77.5 million. The tighter numbers didn’t go unnoticed among market leaders like FanDuel and DraftKings, whose revenues dropped by 27.8% and nearly 39%, respectively.
A few newer players carved out spots within an otherwise cooling sports betting market. ESPN BET brought in $1.6 million, while bet365 gained some ground with $3.7 million. However, retail sportsbooks across the state recorded lower hold rates of 3.6%, compared to online sports betting’s slightly better 7%.
New Jersey saw $560.7 million in taxes from gambling in the first ten months of 2024, with $292 million directly tied to internet gaming. These funds continue to funnel into state programs that assist senior and disabled populations. Internet gaming remains the centerpiece of the state’s tax collection from gambling, generating sustainable long-term benefits for public funding.
