NJ Online Casinos Stays Hot In February With $142 Million In Revenue

Written By David Danzis on March 20, 2023 - Last Updated on June 11, 2023
NJ Online Casino Revenue February 2023

Online gambling in New Jersey continues to rake in huge monthly revenues for digital operators.

According to the latest figures from the state Division of Gaming Enforcement, NJ online gambling revenue generated nearly $142.6 million in February. The monthly total was a 6.7% decline from January’s record-setting $152.9 million but 9.7% higher than in February 2022.

Jane Bokunewicz, faculty director of the Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism (LIGHT) at Stockton University, says internet gambling is becoming a more prominent business component for the state’s gambling industry and Atlantic City casinos.

From the launch of NJ internet gambling in 2013 through February, operators have generated just shy of $5.8 billion in lifetime revenue.

“Internet gaming pushed February 2023 to new heights setting new near-term records for single month February and year-to-date February revenues. Internet gaming remains a significant portion of the Atlantic City gaming industry revenue mix accounting for nearly 40% of total gross gaming revenue share for the year-to-date.”

As a share of the total monthly gaming revenue reported by AC casino licensees, internet gaming accounted for 37.8% of the market in February.

iGaming heats up Atlantic City revenue during cold winter months

Through the first two months of 2023, internet gambling has generated just shy of $295.5 million, a 10.3% increase over the same period last year. Compared to the start of 2021, online gambling revenue is 49.5% higher this year.

Bokunewicz says gaming operators increasingly have the “ability to engage players year-round and via multiple channels.” She believes that approach “may help Atlantic City’s casino operators stay competitive in an increasingly crowded regional and local market.”

“Based on seasonal patterns seen in 2021 and 2022, internet gaming generates the highest percentage of GGR share in the first three months and last three months of the year — the inverse of in-person gaming, which peaks for revenue share in the higher traffic second and third quarters. This pattern may suggest that online casino operations, although not necessarily as lucrative for land-based operators, are successfully capturing player behavior in what is traditionally considered the ‘off’ or ‘shoulder’ season for Atlantic City.”

COVID-19 accelerated the growth of online gambling in NJ. Beginning in March 2020, AC casinos closed for months as a health precaution.

In February 2020, online gaming generated $52 million. By May, digital gambling revenue was $86 million.

Since NJ online casino revenue first eclipsed the $100-million mark in January 2021, only once (February 2021) has the market segment failed to do so again.

Running down NJ’s online gambling numbers

Borgata Hotel Casino & Spa and its online partners, including BetMGM, generated February’s highest revenue. The AC market leader reported $39.7 million last month.

Golden Nugget Atlantic City and Resorts Digital also exceeded $35 million. Golden Nugget, along with Stardust Casino and BetRivers, posted $36.5 million in revenue. Resorts Casino, Mohegan Sun Casino, Poker Stars and DraftKings Casino reported $36 million.

Collectively, those three licensees accounted for 79% of the market’s monthly total.

In terms of percentage increases, Bally’s (+340.1%) and Ocean Casino (+238.6%) led the way in February.

Here is a breakdown of the February NJ online casino revenue results by AC casino license:

AC Casino LicenseeTotal RevenueSlots & TablesPokerPromosTaxes
Bally's$5,939,768$5,939,768$-$752,846$890,965
Borgata$39,736,855$39,032,943$703,912-$8,213,914$5,989,271
Caesars$8,309,315$7,607,872$701,443$-$1,248,171
Golden Nugget$36,541,825$36,541,825$-$4,221,207$5,482,270
Hard Rock$5,619,451$5,619,451$-$118,741$842,918
Ocean$3,794,936$3,794,936$-$38,977$570,591
Resorts $35,964,598$35,086,130$878,468$4,405,580$5,394,690
Tropicana$6,686,218$6,686,218$-$-$1,002,933
TOTAL$142,592,966$140,309,143$2,283,823$1,323,437$21,421,809
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David Danzis

David Danzis is the lead writer for PlayNJ. He is a New Jersey native and honors graduate of Rutgers University. As a newspaper reporter for the New Jersey Herald and Press of Atlantic City, David earned statewide awards for his coverage of politics, government, education, sports, and business. Today, he is PlayNJ’s Atlantic City “insider” and gaming industry expert on casinos, sports betting, and online gambling. David lives in Atlantic County, NJ with his wife and two children.

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