New Jersey internet gaming shows constant growth of at least 20% throughout 2022. In November, it increases yet again at an impressive rate of 23.9% compared to 2021.
On December 16, 2022, the New Jersey Division of Gaming Enforcement released the revenue results for November. This indicates an overall increase of 9.8% compared to the same period in 2021. While both land-based and online casinos reflect growth, it shows a decline for sports betting in the state.
November 2022 – Online Casino Revenue
Online casino revenue grows the most with an astonishing 23.9% compared to November last year. Based on casino games alone, a total of $146.2 million was generated, showing incredible growth compared to the $118 million generated during November 2021. The year-to-year results have growth by 22.5% from $1.23 billion to $1.51 billion in 2022.
November 2022 is down by roughly $1 million in revenue compared to last month’s record breaking $147.2 million revenue. However, it marks the second highest month of the year, being one of just three months to generate over the $140 million mark.
Land-Based Casino Revenue
The nine casino properties in the state of New Jersey generated $214.6 million in revenue. This reveals a 3.7% growth compared to the same period in 2021. The year-to-year results reveal a 9.7% increase from $2.34 billion in 2021, to $2.57 billion this year.
Sports Betting on the Decline in New Jersey
Both land-based and internet gaming reveal increases while sports betting takes a drastic drop. Revenue reports from racetracks, casinos, and their partners added up to revenue of $80.4 million in November 2022. This reveals a decrease of 29.9% compared to the same period in 2021, during which $114.8 was generated.
Year-to-year total also show a decline of 10.8% in sports betting, collecting a total of $675.3 million in 2022, down from $756.7 million in 2021.