After rewriting the record books in 2023, New Jersey online casinos started 2024 the same way.
According to data released Friday by the state Division of Gaming Enforcement, online casinos in NJ generated a record-setting $183.3 million in revenue in January. Year-over-year, online casino revenue increased nearly 20%.
The 15% tax rate on internet gambling revenue created more than $27.4 million in taxes for the state. Atlantic City casinos paid $13 million in taxes last month on in-person gambling revenue, which is only taxed at 8%.
January was the fourth consecutive month online gambling revenue in NJ has set a new all-time high.
Online gambling operators in NJ closed out 2023 by setting the previous monthly record of $180.3 million in December. In November, the benchmark was set at $171.6 million, besting October’s returns of $166.8 million.
Online casinos generated more than $1.92 billion in revenue last year, nearly 16% higher than the previous annual record of $1.66 billion set in 2022.
Brief January history lesson of NJ online casino revenue trends
January’s revenue data suggests another growth year is in the cards for NJ online casinos. Since being legalized in November 2013, online casinos have set the yearly tone in January.
For context, online casinos reported $153 million in January 2023, the previous high-water mark for the first month of the year.
Beginning in 2014 (the first January with online casinos in New Jersey), the market generated $9.4 million. Four years later, internet casinos posted $21.9 million in revenue; it was the first time clearing $20 million. In 2020, $50 million was cleared for the first time as online operators reported more than $55 million in monthly revenue.
Then came three straight $100 million January months, from $104 million in 2021 to $138 million in 2022 and finally eclipsing the $150 million mark last year.
Breaking down January’s NJ online casino revenue data
| Licensee | Total Revenue | Slots & Tables | Poker | Taxes |
|---|---|---|---|---|
| Golden Nugget Atlantic City | $52,232,878 | $52,232,878 | --- | $7,832,229 |
| Resorts Digital | $49,271,998 | $48,375,560 | $896,438 | $7,378,956 |
| Borgata | $42,020,289 | $41,160,212 | $860,077 | $6,270,827 |
| Tropicana Atlantic City | $10,302,299 | $10,302,299 | --- | $1,545,345 |
| Hard Rock Atlantic City | $9,406,046 | $9,406,046 | --- | $1,410,907 |
| Bally's Atlantic City | $8,351,053 | $8,351,053 | --- | $1,252,658 |
| Caesars Interactive | $5,771,331 | $5,040,358 | $730,973 | $866,816 |
| Ocean | $5,715,453 | $5,715,453 | --- | $858,405 |
| Harrah's Atlantic City | $210,039 | $210,039 | --- | $31,506 |
| Total | $183,281,386 | $180,793,898 | $2,487,488 | $27,447,649 |
NJ gaming regulators do not separate out individual online gambling operators. As such, determining revenue from specific websites or mobile apps is not possible. Rather, the state lumps multiple operators together under AC casino licenses or approved online entities.
Golden Nugget and its online casino patterns are NJ’s top-performing internet casino licensee. Golden Nugget online casino and partners, including FanDuel, BetRivers and BetWay, reported $52.2 million last month. Year-over-year, the group’s revenue is up 29% compared to January 2023.
Resorts Digital reported nearly $49.3 million last month, a YoY increase of 22.5%. Resorts Casino, Mohegan Sun Casino, Poker Stars and DraftKings all operate under Resorts Digital’s license.
BetMGM, Party Casino & Party Poker, Pala Casino, Wheel of Fortune Casino and Borgata (among others) all report under Borgata Hotel Casino & Spa. In January, the online operators generated $42 million, a slim 3% YoY increase.
Bally’s posted the largest YoY increase as a percentage, boosting revenue by 62.4% by going from $5.1 million to $8.6 million.
Hard Rock’s online casino brands reported $9.4 million, up 55.5% from 2023. Ocean Casino Resort and its online partners posted $5.7 million, a 45% YoY jump.
Tropicana’s online revenue increased more than 31% to more than $10.3 million last month.
Caesars Interactive was the only licensee to post a YoY decrease in monthly revenue in January, reporting $5.7 million, which is a 30.2% drop from 2023.
