New Jersey has once again solidified its position as a powerhouse in the USA’s ever-expanding gaming industry. It’s no surprise, then, that former New Jersey Division of Gaming Enforcement Director David Rebuck is being honored with a lifetime achievement award for his contributions to the sector.
For the fourth consecutive month, the state’s iGaming sector has broken records, contributing to a staggering $556.9 million in total gambling revenue in November. This marks a significant year-on-year increase, outpacing both last year’s figures and the prior month’s performance.
While sports betting and iGaming achieved impressive double-digit growth, the New Jersey Division of Gaming Enforcement (DGE) also highlighted the rebound in land-based casino revenue. After months of being outpaced by online casinos, land-based venues reclaimed their position as the leading revenue contributor, underscoring their continued importance in the state’s thriving gaming market.
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The Comeback King
Despite a record-breaking month for iGaming, land-based casinos staged an impressive comeback, reclaiming their position as the top revenue generator in New Jersey. The sector brought in $223.9 million in November, marking a 4.2% year-on-year increase and a 7.3% rise over October’s figures.
This resurgence was fueled by strong performances across various gaming segments, with slot machines leading the way. Slots generated $167.7 million, a 4.3% year-on-year increase, reaffirming their popularity among players. Skill-based table games also contributed significantly, bringing in $56.2 million—a solid 4.0% increase from the previous year. MGM’s Borgata Hotel Casino & Spa led the pack, reporting $57.6 million in casino wins, an impressive 11.4% jump from last November.
It wasn’t just the established venues that shone, however. New Jersey’s newer casinos also delivered strong performances. Hard Rock, which opened in 2018, saw a 7.1% increase in revenue, reaching $44.3 million. Similarly, Ocean Resort, another 2018 addition, experienced an 8.2% year-on-year growth, bringing in $34 million for the month. These results highlight the continued success of both seasoned operators and newer entrants in New Jersey’s highly competitive casino market.
New Record High
The revenue milestones didn’t stop there—November was also a landmark month for New Jersey’s iGaming sector, which achieved a record-breaking total monthly revenue of $214 million. This news marks a staggering 24.7% year-on-year increase, narrowly edging past the previous record of $213.6 million set just one month earlier.
Online slots and table games were the primary drivers of this growth, contributing to a 24.9% year-on-year surge in revenue. Peer-to-peer poker also played a notable role, generating $2.3 million, up 12.7% compared to last November. Unsurprisingly, FanDuel, in partnership with Golden Nugget Atlantic City, continued to dominate the iGaming market, leading the sector with $47.9 million in revenue. Close behind was DraftKings, in partnership with Resorts Casino Hotel, which reported $42.2 million in earnings, followed by BetMGM, working with Borgata, at $27.5 million.
Sports Betting Boost
New Jersey’s sports betting sector saw an impressive revenue surge in November, climbing to $119.0 million—a 24.1% year-on-year increase—despite a 21.9% decline in total handle, which fell to $1.22 billion. Online betting dominated the market, accounting for $1.17 billion of the handle, with retail betting contributing $53.1 million.
The revenue boost followed a challenging October when player-friendly NFL results significantly impacted operators’ performance. This rebound was largely driven by an improved hold. In October, sports betting operators retained just 6.85% of the total stakes, a notable drop from September’s 11.28%. By contrast, November saw the hold climb to 9.72%, fueling the strong revenue growth. This underscores the inherent volatility of sports betting, where revenue can fluctuate dramatically based on game outcomes and the betting patterns of players.
Milestone Year
The Garden State is well on track to achieve its most successful year to date, breaking several full-year records. However, its journey to success has not been without obstacles, with legislative efforts and economic studies sparking debate. In January, Senator Joseph Pennacchio reintroduced a bill to allow racetrack slots and tighten gambling advertising rules. Originally proposed in 2014, the bill has repeatedly failed to advance beyond the committee stage, most recently in 2020 and 2022.
Adding to the discussion, a study by the National Economic Research Associates, commissioned by the Campaign for Fairer Gambling, labeled iGaming as “detrimental” to New Jersey’s economy. The study argued that the tax contributions from iGaming were outweighed by the growing costs of gambling-related harm.
Despite these challenges, New Jersey has shown remarkable growth. By the end of October, the state reported a total market revenue of $5.78 billion for the year, representing a 9.9% increase over the previous year and cementing its position as a leader in the U.S. gaming industry.
