The online casino industry in New Jersey has been booming as of late. The Division of Gaming Enforcement reported on Monday afternoon that the vertical reported $198.4 million in August revenue – setting a new state record.
All told, NJ online casinos broke March’s record of $197.2 million. Operators came close in July, posting a $195.4 million mark. It was the fourth time in seven months that iGaming generated over $190 million in revenue after never accomplishing the feat before.
The summer months have proven to be crucial for NJ online casino revenue. Totals have increased for two consecutive months. Perhaps it’s only a matter of time before the Garden State crosses the $200 million threshold.
NJ online casino revenue nears $200 million
New Jersey iGaming operators set a new state record and almost hit another milestone in the process.
The Garden State would become the third market to exceed $200 million in monthly revenue. Pennsylvania and Michigan have already done so.
July was considered a terrific month for the industry, coming just $2 million shy of the record. However, August finally became the month where operators broke the five-month-old high. Here are revenue totals of 2024 (and their overall ranks in the nearly 11-year history of online casinos in New Jersey):
- January: $183.3 million (7)
- February: $182.3 million (8)
- March: $197.2 million (2)
- April: $187.9 million (5)
- May: $192.1 million (4)
- June: $186.8 million (6)
- July: $195.4 million (3)
- August: $198.4 million (1)
Revenue has increased two months in a row in the Garden State. August saw an increase of 1.5% from July and a 27.8% year-over-year bump.
Operators are poised to hit $200 million in NJ online gambling revenue, which could be as early as the fall, especially with football season in full swing.
DraftKings NJ maintains slight lead over FanDuel
Once again, DraftKings Casino NJ delivered the highest revenue total of the month. The operator produced $43.2 million in August, which beat out FanDuel Casino NJ, which recorded $41.3 million.
DraftKings has generated more than $40 million in monthly revenue for four consecutive months. It has done so in seven of the eight months of 2024. FanDuel has only crossed the mark twice this year.
| Online casino | Total Revenue | Slots & Tables | Poker |
|---|---|---|---|
| DraftKings | $43,221,374 | $43,221,374 | --- |
| FanDuel | $41,331,301 | $41,331,301 | --- |
| BetMGM | $22,162,665 | $21,791,042 | $371,623 |
| Borgata | $20,295,091 | $19,944,078 | $351,013 |
| Caesars Palace | $14,021,440 | $14,021,440 | --- |
| Hard Rock Bet | $9,938,704 | $9,938,704 | --- |
| Golden Nugget | $6,696,947 | $6,696,947 | --- |
| BetRivers | $5,873,509 | $5,873,509 | --- |
| Bally | $5,610,243 | $5,610,243 | --- |
| ESPN Bet | $3,213,500 | $3,213,500 | --- |
| Tropicana | $2,461,529 | $2,461,529 | --- |
| Ocean | $1,479,599 | $1,479,599 | --- |
| PlayStar | $2,347,584 | $2,347,584 | --- |
| Fanatics | $2,610,999 | $2,610,999 | --- |
| Resorts | $2,141,521 | $2,141,521 | --- |
| Virgin | $1,507,756 | $1,507,756 | --- |
| PartyPoker | $1,477,884 | $1,323,775 | $154,109 |
| Jackpocket | $1,763,812 | $1,763,812 | --- |
| WSOP | $1,243,527 | $393,878 | $849,649 |
| PokerStars | $1,290,882 | $619,544 | $671,338 |
| Bet365 | $1,354,274 | $1,354,274 | --- |
| Parx | $1,168,687 | $1,168,687 | --- |
| Mohegan Sun | $1,142,008 | $1,142,008 | --- |
| Harrah's | $1,071,636 | $1,071,636 | --- |
| Pala/Stardust | $1,043,655 | $1,043,655 | --- |
| Wheel of Fortune | $778,163 | $778,163 | --- |
| Betway | $520,825 | $520,825 | --- |
| Jackpot City | $608,713 | $608,713 | --- |
| 888 | --- | --- | --- |
| PointsBet | --- | --- | --- |
| Unibet | --- | --- | --- |
| Tipico | --- | --- | --- |
| Total | $198,377,828 | $195,980,096 | $2,397,732 |
Fanatics sets new revenue high since launch
Fanatics Casino NJ is the new operator on the block. However, amidst the state setting a new record, Fanatics also is starting to gain some ground.
Since putting its name on the iGaming product in May, Fanatics has methodically increased revenue in each and every month. Fanatics has produced the following totals:
- May: $963,543
- June: $1.8 million
- July: $2.5 million
- August: $2.6 million
While the market had 28 operators that reported revenue in August, Fanatics is already generating more revenue than well-established platforms and looking to further gain ground on other competitors as the year goes on.
