The New Jersey Division of Gaming Enforcement reported that total gaming revenue for July 2024 reached $547.8 million. An increase of 8.2% compared to last year.
In other words, this growth was driven by gains in the internet gaming and sports betting sectors, despite a decline in revenue from traditional casinos.
Casino earnings for the nine casino hotel properties in the state totaled $272.3 million in July 2024, a 6.1% decrease. Casino earnings totaled $1.63 billion, a 1% drop.
New Jersey sees a surge in online betting
On the other hand, online gaming continued its upward trajectory, with a reported gain of $195.4 million in July, marking a 25.9% increase.
Earnings from online gaming reached US$1.33 billion, an increase of 22%. The constant growth in this sector highlights the role of online platforms in the state’s gaming sector.
Gross sports betting revenue also saw a substantial increase, totaling $80 million for July 2024. This represents a 31.2% increase. Sports betting revenue was $653.1 million, an increase of 30.1%.
The combined results of these sectors brought total gaming revenue to $3.61 billion, reflecting an increase of 11.5%.
These numbers highlight the growth trend in New Jersey’s gaming sector, which saw a 7.4% increase in revenue in June 2024.
Thus, the state has consistently seen an increase in revenue from online gaming and sports betting, offsetting declines in traditional casino operations.