The Division of Gaming Enforcement (DGE) in New Jersey has released its latest report on the performance of licensed operators for October, revealing that the total gaming revenues hit $487.1 million. This marks a 9.3% increase from October 2022, when gaming revenue was $445.7 million.
The year-to-date revenue through October 2023 totaled $4.77 billion, a 10.6% increase from the same period in 2022, which saw a total gaming revenue of $4.3 billion. In terms of taxes, casinos contributed $7.4 million in taxes in October, while sports betting raised $801,145. For the year-to-date results, casinos contributed $74.2 million in taxes, while sports betting contributed $5.2 million.
The breakdown of the total gaming revenue reported by licensed casino, iGaming, and sports betting operators in October showed that sports betting and internet gaming activities experienced the highest increase in revenue. Sports betting revenue soared by 18.4% to $92.3 million, with the total sports wagering handle hitting $1.29 billion.
Internet gaming win also increased to $166.8 million, representing a 13.3% increase from October 2022. The total casino revenue reported last month was $228.1 million, a 3.4% increase from October last year. Majority of the licensees experienced an increase in their total gaming revenue, with nine out of 14 licensed casinos and racetracks posting an increase.
Meadowlands’ total gaming revenue in October hit $60.2 million, an increase of 32.7%, while Ocean Casino posted $48.1 million in total gaming revenue, up by 52.6% from October 2022. Bally’s also saw a strong revenue increase, up by 27.3% to $19.8 million. Golden Nugget’s revenue increased by 22.1% to $61.5 million, while Hard Rock saw a revenue increase of 17.5%, with total gaming revenue hitting $51.9 million.
Overall, the latest report from the DGE indicates that October was a strong month for the gambling sector in New Jersey, with significant increases in total gaming revenue, particularly in sports betting and internet gaming activities.