Record-Breaking Revenue in January
New Jersey's gambling scene soared to unprecedented heights in January, with total revenue hitting $559.1 million. This remarkable figure marked a 28.0% increase compared to January 2023 and a 7.1% surge from December 2023.
Land-Based Casinos Maintain Dominance
Despite the overall surge, land-based casinos experienced a slight dip in revenue, totaling $205.0 million, down 3.1% year-on-year. Although revenue from physical slots dropped by 5.8%, revenue from table games saw a modest increase of 3.7%.
Igaming Surges Ahead
In stark contrast, the online gambling sector, or igaming, flourished. January saw igaming revenue soar to $183.3 million, a substantial 19.9% increase from the previous year. This surge was primarily driven by a record-breaking performance in online slots, which accounted for $180.8 million of total revenue.
Sports Betting Reaches New Heights
The sports betting sector also witnessed a historic milestone, with revenue reaching a record $170.8 million in January, marking a staggering 136.1% increase from the previous year. This surge was fueled by an all-time high total handle of $1.72 billion, indicating a growing appetite for sports wagering in the state.
Potential for Yearly Records
With such strong performance in January, New Jersey is poised to set new annual records in 2024. The state's gambling industry has been on an upward trajectory, consistently surpassing previous benchmarks. With igaming and sports betting showing remarkable growth, all eyes are on New Jersey to see if it can maintain this momentum throughout the year.