Setting more records
The New Jersey gaming regulator’s monthly revenue report confirmed that nine Atlantic City casinos reported a combined $223.9 million in gross gaming revenue, restoring their crown on statewide gambling.
This is only a slight increase on the total reported in November 2023 and is still below pre-pandemic levels. However, it is encouraging, seeing as October’s monthly revenue report confirmed a near-nine percent year-over-year decrease in revenue.
Another reason for Atlantic City casinos’ excitement is that they pulled back ahead of online operators during a time when tourists aren’t turning out as much as they would during the popular months of summer.
New Jersey’s online casinos (which now consist of nearly 30 brands) already eclipsed $2 billion in revenue since the turn of the year. The $213.6 million in November revenue also represented a substantial 24.7 percent increase compared to the same time a year ago.
Online casinos’ 2024 revenue total is also 23.8 percent higher than it was during the same period in 2023. All in all, it was a successful month all-around for New Jersey online casinos and retail operators.
Competition heats up
Looking at New Jersey online casinos, FanDuel emerged as the top dog in November with $47.9 million in total revenue. DraftKings was close behind at $42.2 million.
BetMGM, Borgata, and Caesars Palace represented the three other brands that generated at least $10 million in online casino revenue.
Fanatics Casino reported $4.4 million in revenue, ranking it ninth among all operators—however, this was its sixth straight month beating its previous month’s revenue total.
Golden Nugget Atlantic City set the pace for retail casinos in Atlantic City with $65.2 million in revenue, resulting in $11.4 million in taxes for the state. Borgata ($53.4 million in revenue, $9.4 million in tax funds) and Resorts Atlantic City ($49.1 million in revenue, $8.5 million in taxes) also finished on the podium, while Harrah’s Atlantic City brought up the rear with $1.4 million in revenue and $241,041 in tax contributions.
New Jersey is also home to one of the most lucrative sports betting markets, making it a powerhouse for all phases of gaming, especially since it is one of only seven states with legal online casinos.
