NJ Online Casinos Set Another Record With $152.9 Million January

Written By Hill Kerby on February 22, 2023 - Last Updated on June 11, 2023
Borgata New Jersey Revenue

Records were made to be broken, and New Jersey online casinos wasted no time bringing in over $150 million for the second consecutive month.

The New Jersey Division of Gaming Enforcement reported $152.9 million in online casino revenue in January, beating December’s previous record of $151.5 million. Revenue was up 10.9% year-over-year after last January’s $137.8 million set the table for a record $1.66 billion annual revenue.

That record looks like it’s made to be broken, too.

Three operators carry the bulk

Borgata Hotel Casino & Spa again held the top spot among online casino operators in New Jersey with its BetMGM and Borgata online casinos. Its $40.8 million in revenue represented a 4.3% YoY increase.

However, Borgata was not alone at the top, as two other operators in Golden Nugget Atlantic City and Resorts Digital came within $600,000 of overtaking it.

Golden Nugget, whose brands include BetRivers, FanDuel and Golden Nugget Online Casino, reported $40.6 million in revenue, up 11.3% YoY.

Resorts (DraftKings, Barstool and Resorts Online Casino) finished third with $40.2 million in revenue, riding a 21.8% YoY boost to enter into the discussion with Borgata and Golden Nugget.

Combined, these three operators accounted for nearly 80% of January’s iGaming revenue.

NJ online casino revenue breakdown

Here is a breakdown of the December NJ online casino revenue results by AC casino license.

LicenseeTotal RevenueSlots & TablesPokerTaxes
Bally's Atlantic City$5,140,854$5,140,854$ -$771,128
Caesars Atlantic City$8,272,822$7,470,882$801,940$1,241,953
Golden Nugget Atlantic City$40,596,496$40,596,496$ -$6,090,192
Hard Rock Atlantic City$6,047,782$6,047,782$ -$907,167
Ocean$3,937,612$3,937,612$ -$593,003
Resorts Atlantic City$40,222,698$39,131,642$1,091,056$6,033,090
Tropicana Atlantic City$7,849,669$7,849,669$ -$1,177,450

Mixed results from the rest of the pack

While the top three operators each surpassed $40 million in revenue, none of the remaining five cracked $10 million.

Caesars Atlantic City came the closest, with $8.3 million. Its revenue dropped 17.6% from Last January’s $10 million. Only Tropicana ($7.8 million) got hit harder, down 18.5% YoY, primarily due to Virgin Casino migrating off of its platform.

Bally’s, the benefactor of Virgin, PointsBet Casino and its own Bally Casino, recorded $5.1 million, a 327% boost from last January’s $1.2 million. It was still not enough to catch Hard Rock ($6 million; -6.2% YoY), though.

Like Bally’s, Ocean Casino Resort continued its upward trend. Despite having the lowest monthly revenue of $3.9 million, it posted gains of 106.5% YoY.

Online casino market continues to mature

Online casino revenue has increased steadily in the Garden State over the last two years. 

The first half of 2021 returned figures in the $100 to $110s of millions before reaching $120 million in the fall. They eclipsed $130 million in December for the first time, creating a benchmark until October 2022.

Since October, casinos have been raising the bar once more:

  • October: $147.2 million
  • November: $146.2 million
  • December: $151.5 million
  • January: $152.9 million

If the last two years’ trend continues, New Jersey online casinos will generate at least $150 million in revenue most months of the year, with a chance to reach $170 million by the end of the year.

Furthermore, Pennsylvania and Michigan have kept pace with New Jersey throughout the same period, despite having much younger markets. 

But even with a decade of operations, New Jersey is still “new” in the big picture of today’s U.S. online casino market. Its first $50 million month came in January 2019, and it first hit $100 million in January 2020. 

With this in mind, NJ only had a one-year head start over PA and two years over MI. All three states’ markets continue to grow, and evidence suggests their ceilings are still to be determined. 

Photo by AP / Wayne Parry
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Hill Kerby

Hill Kerby comes from a background of poker, sports and psychology. He brings all of that expertise into his writing, where he contributes content in the growing legalized sports betting, online casino and gambling industry.

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