Hitting new heights
The $208.1 million in iGaming revenue collected during September was up 27.1 percent year-over-year and beat out the existing monthly record of $198.4 million set in August.
Revenue from attractions including online slot machines and table games increased 27.6 percent to $205.9 million. Only online poker suffered, dropping 6.9 percent to $2.2 million.
While the report confirmed another successful month for New Jersey’s gaming industry, it highlighted the recent struggles of land-based casinos.
New Jersey online and retail casino revenue hit $558.3 million, a 7.1 percent year-over-year increase and a 0.6 percent increase on the total reported in August. That’s despite the online sector hitting record highs and growing much more quickly.
Atlantic City has struggled recently, whether that be due to rising costs, difficulty in travel due to weather events, or an ongoing anti-smoking campaign involving a plethora of casino employees.
Land-based casinos in Atlantic City have collected $2.15 billion in revenue through nine months, marking a 0.9 percent decrease during the same period compared to last year. Meanwhile, online casino revenue is up 23.2 percent, and sports betting revenue increased 17.8 percent.
Land-based casinos struggle
Six online casino operators produced record highs in revenue during September. DraftKings led all operators with a monthly record $45.8 million, followed closely by FanDuel ($45.3 million) and BetMGM ($26 million).
Resorts Casino Hotel led all land-based casinos in online revenue with $52.9 million. Resorts includes DraftKings, ESPN Bet, and PokerStars as online skins.
Borgata headlined the in-person casino market, generating $62.4 million in revenue. However, it was the only retail casino to enjoy improved success.
Resorts World posted the smallest loss of the other casinos, only dropping 3.9 percent to $14.4 million in revenue.
Hard Rock was hit hard as its in-person gaming revenue declined by 4.7 percent to $44.6 million, though it still managed the second-most revenue.
Ocean Casino claimed the third-most revenue ($28.6 million) but experienced a 28 percent decline.
New Jersey sports betting revenue in September hit $119.6 million, a 7.6 percent increase on the same time last year and a 90.7 percent increase on the $62.7 million reported in August. The drastic increase can largely be attributed to the return of the NFL, along with MLB and WNBA hitting their postseason stages.
