New Jersey online casinos report record monthly profits in November
New Jersey online casinos experienced their best month ever in November, with gross gaming revenue (GGR) from interactive slots and table games totaling $171.5 million.
Today, the New Jersey Division of Gaming Enforcement released November iGaming, sports betting and retail gaming data for nine Atlantic City casinos. The monthly report is headlined by Record Wins on the Internet.
Online slots and table games generated $169.5 million in winnings, while poker rake for online games was just over $2 million.Internet Gain represents a 17% bonus through November 2022, when online GGR totaled $146.1 million.
Online gambling continues to grow in the Garden State. iGaming's $1.74 billion GGR is already more than the online platform won from players in all of 2022.
Golden Nugget’s online casino leads the way with $50.1 million in GGR in November. Resorts was second with $47.2 million and Borgata was third with $37.9 million.
Casino wins and draws
Last month, Atlantic City casino revenue was approximately $214.9 million, a nominal increase of 0.2%.
November was the same as last year due to poor table game win rates. Felt revenue was $54 million, down 6.5%. Slot machine revenue on the casino's ninth floor increased nearly 3% to $160.9 million.
Atlantic City casinos generated more than $2.6 billion in revenue in 11 months. That’s a 1.8% premium over the same period last year and almost 6% richer than pre-pandemic from January to November 2019.
While casinos claim that higher administrative costs are eating into 2019's 5.5% GGR growth (a topic the industry has defended in its elimination efforts), these increases seem to indicate that iGaming's growth is not. in this way. There is no poaching at the resort.
Jane Bokunewicz, president of the Lloyd D. Levenson Gaming Institute, said Internet gaming and sports betting appear to be popular consumer products that fill a void for certain players rather than diminish it. Physical game revenue. Stockton University Hospitality and Tourism (LIGHT). "The in-person gaming experience will never be replaced, and the relatively low revenue from physical gaming right now may just be evidence of a stable market."
Atlantic City's November win was their second-best November in 10 years. Atlantic City casino profits so far this year are at their highest level since 2013.
Borgata has long been the leader in Atlantic City casinos, once again becoming the top casino by revenue with total land-based slot machine and table gaming sales reaching $51.6 million in November. Hard Rock was second with $41.4 million and Ocean was third with $31.4 million.
Record Sports Betting
New Jersey gaming operators set a record in November when total wagers, or total bets, topped $1.62 billion. There are more than $10.68 billion in sports betting transactions on the books so far this year.
Betters lost nearly $95.9 million in November, 19% more than in November 2022.
FanDuel Sportsbook at Meadowlands Racetrack in North Jersey continues to dominate the state’s sports betting market. The retail and online sports betting operator won $57.6 million in November. In 11 months, FanDuel won about $432.5 million, accounting for 48% of the $897.1 million won by sports bettors nationwide this year.
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Source: www.casino.org
