New Jersey Division of Gaming Enforcement Reports $547 Million Total Gaming Revenue for July 2024

The New Jersey Division of Gaming Enforcement announced the latest gaming revenue results for July 2024, reflecting an increase in iGaming and sports betting that balances the decrease in land-based revenue.

Casinos, racetracks, and their partners reported $547.8 million for the month, representing an 8.2% increase compared to $506.2 million in July 2023. The year-to-date figures amount to $3.61 billion, also registering an increase of 11.5%, compared to $3.23 billion for the prior period.

The nine casino hotel properties in Atlantic City generated $272.3 million in winnings for July 2024. While this represents a decrease of 6.1% compared to the $290 million reported in the same month of 2023, land-based gambling remains the fundamental source of revenue. Similarly, the year-to-date figures ($1.63 billion) for July 2024 struggled to match the year-to-date figures for July 2023, reflecting a decrease of 1.0%.

The iGaming revenue for July 2024 stood at $195.4 million, reflecting a 25.9% increase compared to $155.2 million reported in July 2023. Slots and table games contributed the lion’s share, or a total of $192.8 million, whereas the remaining $2.6 million was generated by peer-to-peer poker.

James T. Plousis, Chairman of the New Jersey Casino Control Commission, commented on the July figures and confirmed that casinos saw their best revenue results for over a decade, largely attributable to online gambling.

Sports Wagering Gross Revenue Rebounded to $80 Million in July 2024

Following the unsatisfactory results for June 2024, the sports wagering revenue reported by casinos, racetracks, and their partners rebounded to $80 million for July 2024. The previous month saw one of the lowest totals of $60.1 million, reported since February 2023.

The July 2024 sports wagering figures represent a 31.2% increase compared to the same month in 2023. As for the year-to-date period, sports wagering gross revenue stood at s $653.1 million, a 30.1% increase compared to the same period in 2023. Overall, sports wagering in July 2024 reached a record high ever since sports betting was authorized in the state.

FanDuel sits on top of all sportsbook operators in the state in terms of revenue, with $31.9 million reported in July 2024. It is followed by DraftKings, with $25.9 million. BetMGM ranks third, with $5.2 million.

Borgata reported $789,471 in sportsbook revenue. The operator, an online gaming and sports betting partner of BetMGM, was fined by the New Jersey Division of Gaming Enforcement. The regulator imposed a $75,000 fine on the operator for overstating its iGaming promo credits by over $4.5 million for the period between October 2023 and May 2024.

In terms of state revenue, New Jersey has collected nearly $388.1 million in gambling taxes since the beginning of 2024.