The New Jersey Division of Gaming Enforcement reported $461.5 million in adjusted gross revenue across all gaming verticals for February as another strong month of operator winnings from internet casino gaming offset a narrow loss from brick-and-mortar venues in Atlantic City.

The total figure represented a 12% improvement from the $412.2 million worth of revenue via in-person casino play, sports betting, and mobile casino gaming generated in February 2023. Winnings at the nine Atlantic City casinos totaled $211.6 million, down 1.6% from last year as operators had an extra day of action to help lessen losses.

Internet casino gaming revenue narrowly missed an all-time high for the fifth consecutive month, landing at $182.3 million. That was within $947,000 of January’s record $183.3 million and also a 27.9% increase from 12 months prior. Though the falloff in sports wagering revenue from January’s record haul was over $100 million, the $67.6 million claimed by sportsbooks in February was up 23.7% year-over-year.

The state saw an inflow of $50.2 million in taxes into its coffers for February, with $27.5 million of that coming from internet casino gaming. Atlantic City casinos kicked in $13.6 million worth of receipts, with the remaining balance — $9.1 million — derived from sports betting.

A third straight month with $180 million in iGaming revenue

Garden State revenue totals for internet casino gaming hovered near record levels in February thanks in part to second-level operators picking up the slack. Five such operators — Hard Rock, Tropicana, Bally’s, Ocean Resort, and Harrah’s — all had overall monthly bests.

In the case of Hard Rock, it reached eight figures for the first time with a revenue haul of $10.3 million, topping its previous best from January by more than $860,000. The 82.7% year-over-year improvement also paced all eight digital operators.

Tropicana, which reached $10 million for the first time last December, extended its eight-figure streak to three months after claiming $11.4 million in winnings in February. That was a 71.2% increase from February 2023, and its year-to-date revenue of $21.7 million is nearly 50% higher than the first two months of last year.

Bally’s set a record for the second consecutive month at $8.7 million, and its $17 million for the first two months is almost as much as it claimed for the opening quarter of 2023. Ocean Casino and Resort cleared $6 million in winnings for the first time after a three-month run of surpassing $5 million.

Harrah’s, which has seen Jackpocket.com — acquired by DraftKings for $750 million last month — make an instant impact, saw revenue nearly quadruple from January as it brought in $803,000. The five digital platforms had a combined revenue increase of $2.4 million from January.

In the case of the “Big 3,” Golden Nugget again took top honors with $51.5 million. It was the fourth consecutive month it surpassed $50 million, but also marked a second straight decline from December’s all-time state record of $52.8 million. Revenue at the Golden Nugget, though, was up 40.9% from February 2023.

Resorts Digital was a firm second at $48 million, up more than one-third from last year. The Borgata again needed poker rake to edge over $40 million in total digital revenue, topping the benchmark by $13,622 thanks to a poker rake of $794,000. The Borgata’s 0.7% gain from February 2023 was the smallest year-over-year increase among the seven platforms that reported increases in revenue.

Caesars was the lone operator to have a year-over-year decline, and it was a large one as revenue plunged 32.8% to $5.6 million. Its $11.4 million in winnings for the first two months of 2024 is down 31.5% to the comparable span from last year, and Caesars is the only digital outfit with a downturn in revenue thus far.

More table drop, but less table revenue

Table revenue in Atlantic City totaled $52.7 million in February, down 5.3% year-over-year despite a 2.7% increase in drop to $319.9 million. Six of the nine venues had declines in table drop compared to February 2023 and the increased action at Golden Nugget, Hard Rock, and Ocean Casino — a combined $25.9 million in drop — outpaced the falloff elsewhere.

Slot revenues were closer to flat, dipping only 0.3% to $158.9 million as the decline in actual dollars was $440,215. The Borgata led the Boardwalk venues in winnings at $53.6 million, which was down 6.7% versus February 2023. Hard Rock was one of three locations to post year-over-year gains, with its $41.1 million in winnings up 9.6%.

Ocean Casino had the biggest year-over-year bounce, with revenue climbing 18.1% to $31.1 million as it rounded out the podium spots. While Harrah’s placed fourth with $18.2 million in winnings, its 14.7% downturn versus the previous February was the largest in percentage.

All nine venues reached eight figures in February revenue, with Tropicana ($16.7 million) fending off Caesars ($16.4 million) to complete the top five. Caesars’ 13.7% decline was second worst, while Bally’s had a 13.1% swing to the negative from February 2023 to $10.7 million.

Photo: Getty Images