New Jersey’s gaming sector reached an extraordinary milestone in 2024, generating a total revenue of $6.30 billion. This represented a significant 9% increase compared to 2023, when the previous record of $5.78 billion was set, underscoring the state’s robust growth in the gaming market.
December 2024 Overview
The New Jersey Division of Gaming Enforcement (NJDGE) provided the following key metrics for December:
Casino Revenue: Brick-and-mortar casinos reported $231.8 million in revenue, reflecting a slight dip of 0.3% compared to December 2023.
Online Gaming: The digital gaming market showcased remarkable growth, with December revenues reaching $228.0 million, a sharp 26.5% increase year-over-year.
Sports Betting: Sports wagering, on the other hand, faced a decline. Revenue for December stood at $62.8 million, a 42.6% drop from 2023, attributed to bettor-favorable outcomes.
Internet Gaming’s Meteoric Rise
The online gaming sector proved to be the year’s standout performer, amassing $2.39 billion in revenue—an impressive 24% rise compared to 2023. This segment has continued to challenge the traditional casino market, which generated $2.82 billion in revenue. In certain months, online gaming even outperformed physical casinos, reflecting changing consumer preferences toward digital platforms.
Sports Betting Hits Unprecedented Levels
Despite a challenging December, sports betting saw an annual revenue of $1.09 billion, reflecting an 8.7% increase from 2023. The total amount wagered reached an all-time high of $12.77 billion, representing a 6.7% growth. Digital wagers dominated, accounting for $12.27 billion, while retail locations contributed $499.2 million.
| Month | Total Wagered | Digital Percentage | Revenue | Win Rate | Taxes Collected |
|---|---|---|---|---|---|
| January 2024 | $1.72 billion | 97.23% | $170.8 million | 9.93% | $21.8 million |
| February 2024 | $1.08 billion | 96.49% | $67.6 million | 6.24% | $8.6 million |
| March 2024 | $1.33 billion | 96.70% | $89.7 million | 6.74% | $11.0 million |
| April 2024 | $1.04 billion | 96.67% | $106.2 million | 10.17% | $13.8 million |
| December 2024 | $1.22 billion | 95.69% | $62.8 million | 5.17% | $4.0 million |
Brick-and-Mortar Casinos See Slight Decline
Despite the industry’s strong overall performance, revenue from land-based casinos slightly decreased, totaling $2.82 billion—a 1.1% drop from 2023. This slight decline puts their earnings just above those of the rapidly growing online gaming sector, highlighting the shifting dynamics of consumer habits.
Key Monthly Highlights in 2024
January: The year kicked off with an impressive $559.1 million in total gaming revenue, driven by a 19.9% boost in online gaming and a remarkable 136.1% surge in sports betting revenue.
October: Online gaming reached a record $213.6 million in revenue. However, physical casino earnings fell by 8.5%, further emphasizing the digital shift.
November: Online gaming set another record with $214 million in revenue. Overall monthly gaming revenue increased to $556.9 million, a 15.4% rise compared to the same month in 2023.
New Jersey’s gaming industry continues to experience transformative growth, with the digital realm and sports wagering steering the future. As these sectors expand, they are redefining the traditional boundaries of the gaming landscape.