New Jersey Online Casino Revenue Continues to Grow without New Record

By Raymond
Published March 27, 2023

Last week the New Jersey Division of Gaming Enforcement released the revenue figures for February 2023, showing a total of $142,592,966 in revenue from online casino games

New Jersey online casino revenue broke records in December 2022 and again in January 2023, winning over $152 million. While last month accumulated a lower total, it still shows a growth of 10% compared to January 2022, during which casinos generated just south of $138 million. 

While growth percentages have decreased compared to 2022, casinos are still growing by an average of 10% in 2023, even with land-based casinos in Atlantic City operating as usual. If the trend continues, we can expect to see a new record-high in March 2023.

iGaming Revenue Growth of 2023 Compared to 2022 and 2021 

New Jersey Casino Revenue Prediction

During the pandemic, online casinos grew incredibly fast with year-on-year percentages commonly exceeding 30%. In the meantime, land-based casinos in AC are working hard to welcome back players with various upgrades and promotions.

While most expected growth to drastically decrease post-pandemic, the revenue figures show that more players choose to play at online casinos each month. As seen in the table below, 2023 already reveals growth of over 10% compared to the same period of 2022. Thus, we can expect another record-breaking total in March 2023.

Month2021 Revenue2022 Revenue2023 Revenue
January$103,771,312$137,849,716 (+32.84%)$152,866,817 (+10.89%)
February$93,810,486$129,976,091 (+38.55%)$142,592,966 (+9.71%)
March$113,669,187$140,655,053 (+23.74%)$154,720,558 (Prediction)

Interestingly, the revenue trend shows February decreasing by a large margin each year, which is followed by a new record in March. If this trend applies to 2023 – based on the average growth percentage of 10% in 2023 – we can expect to see another all-time high.

The current monthly revenue record in New Jersey stands at $152,866,817, generated in January of 2023. As the table indicates, we can expect March revenue to exceed $154 million, unless online casinos fail to grow by the average of 10%. However, a low growth percentage of 8.7% over March 2022 is enough to break the current record.

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