New Jersey Casinos Set New Record High for 2022

By Raymond
Published January 26, 2023

For the first time since 2006 New Jersey gambling revenue has reached an all time high of $5.2 billion in 2022. However, it could not have been achieved without the help of online casinos in the state. 

NEw Jersey Casino Revenue Record

The final 2022 figures – including in-person, sports betting, and internet gaming – were released on the 17th of January, filling in the figures for the 12th month of 2022. A combined total of $454.8 million was generated last month, showing an impressive 13% gain compared to the same period in 2021

For the month of December, sports betting revealed the biggest growth of 49% ($87.7 million) compared to 2021, but resulted in a overall decline of 7% for the year. In second place, in-person gaming generated $215.6 million in December, showing growth of just 2% compared to last year. However, a total of $2.79 billion was won in 2022, revealing growth of 9%. 

The biggest growth in the state was recorded by online casinos and partners, winning a record-breaking $151.5 million in December 2022. Compared to the same period of 2021, the report shows growth of 14%. Internet gaming managed to break the yearly record with a total of $1.66 billion, growing at a remarkable 22% compared to 2021.

Reaching Numbers Last Seen in 2006

Prior to 2006, in-person gaming in New Jersey grew at a drastic rate. However, since neighboring state Pennsylvania legalized gambling, casinos in Atlantic City experienced a major decline, closing five of the 12 casinos in the state. 

Stockton University assistant director of Lloyd Leveson, Sarah Grady has been studying the gambling industry in Atlantic City.As she said, it has taken a lot of effort and planning for casinos in the state to reach these numbers, especially considering that in 2006 all the revenue was generated by in-person players. 

Sarah said “To compare these returns, it is important to consider how much the market has changed in the past 16 years,” she continued to include “To achieve the returns we have today took a substantial expansion and diversification of the New Jersey gaming product to compete with increased competition from neighboring states.