New Jersey online casinos ended 2024 with a bang, recording record revenue for the fifth straight month in December. The New Jersey Division of Gaming Enforcement reported that platforms produced $228 million in earnings last month.
Online casinos in New Jersey had a banner year in 2024 as the vertical generated a yearly record of $2.4 billion. Since 2013, operators have collected $9.8 billion in lifetime revenue. They should cross the $10 billion threshold at some point this month.
iGaming narrowly finished behind Atlantic City casino revenue, which posted $231.8 million last month. October was the only month in which the online sector out-paced retail in the Garden State.
Chairman of the Casino Control Commission, James T. Plousis, said in a statement emailed to PlayNJ:
“In 2024, on-line gaming solidified as a prominent and critical segment of New Jersey’s gaming industry. Annual internet gaming win exceeded last year’s record by more than 24%. Monthly internet gaming win ended the year strong, setting a record for the fifth consecutive month.”
NJ iGaming operators shatter 2023 record
The online casino market in New Jersey is growing at a rapid pace. As Plousis alluded to, the industry has grown 24% from 2023.
Though iGaming had been legal in the Garden State since 2013, the COVID-19 pandemic sparked interest in the vertical, resulting in massive increases.
In 2019, online operators produced just $482.7 million in yearly revenue. The vertical crossed the $1 billion mark in 2021, and finally, in 2024, it shattered the $2 billion threshold.
The increases in revenue, according to the graph, is as linear as you can get.
Key takeaways from December revenue report
Here is how the final month of a record-breaking 2024 for NJ operators:
| Online casino | Total Revenue | Slots & Tables | Poker |
|---|---|---|---|
| DraftKings | $51,260,045 | $51,260,045 | $--- |
| FanDuel | $50,098,805 | $50,098,805 | $--- |
| BetMGM | $28,641,185 | $28,139,449 | $501,736 |
| Borgata | $21,495,647 | $21,080,401 | $415,246 |
| Caesars Palace | $16,777,345 | $16,777,345 | $--- |
| Hard Rock Bet | $11,067,212 | $11,067,212 | $--- |
| BetRivers | $8,024,219 | $8,024,219 | $--- |
| Golden Nugget | $5,924,842 | $5,924,842 | $--- |
| Bally | $4,464,780 | $4,464,780 | $--- |
| Fanatics | $3,531,300 | $3,531,300 | $--- |
| ESPN Bet | $2,778,095 | $2,778,095 | $--- |
| PlayStar | $2,523,600 | $2,523,600 | $--- |
| Tropicana | $2,494,296 | $2,494,296 | $--- |
| Ocean | $1,861,231 | $1,861,231 | $--- |
| Resorts | $1,839,106 | $1,839,106 | $--- |
| Bet365 | $1,795,491 | $1,795,491 | $--- |
| Jackpocket | $1,444,650 | $1,444,650 | $--- |
| PokerStars | $1,392,776 | $707,868 | $684,908 |
| Parx | $1,222,630 | $1,222,630 | $--- |
| Mohegan Sun | $1,171,598 | $1,171,598 | $--- |
| PartyPoker | $1,158,468 | $964,242 | $194,226 |
| Jackpot City | $1,158,128 | $1,158,128 | $--- |
| Pala/Stardust | $1,075,166 | $1,075,166 | $--- |
| Harrah's | $1,007,726 | $1,007,726 | $--- |
| Betway | $1,007,366 | $1,007,366 | $--- |
| WSOP | $1,005,639 | $363,797 | $641,842 |
| Monopoly | $953,868 | $953,868 | $--- |
| Wheel of Fortune | $835,674 | $835,674 | $--- |
| Total | $228,010,888 | $225,572,930 | $2,437,958 |
DraftKings holds the crown for 2024 revenue
A back and forth year for two of the market leaders resulted in DraftKings edging out FanDuel. The former produced nearly $515 million to the latter’s $506.6 million.
FanDuel finished ahead of DraftKings only three times last year. However, two of those months were in October and November, which fueled a near-comeback.
DraftKings regained the lead in December, posting $51.2 million which ultimately sealed the deal for the operator. FanDuel recorded $50.1 million last month.
They are the only two operators to achieve $500 million in 2024, and captured a combined 42.8% of the market share.
Hard Rock makes a considerable jump
Hard Rock Bet is a sneaky good operator in the Garden State, and has improved over the last few months. The platform has more than 2,500 unique games in its library since launching in August 2023.
Hard Rock had a strong final quarter to the year, posting the following results:
- September: $10.8 million
- October: $10.4 million
- November: $9.8 million
- December: $11.1 million
Hard Rock has certainly invested into its platform by including personalized features for each user, as well as running an inaugural slot tournament for customers.
It appears that Hard Rock is reaping the benefits.
Expect online casinos to surpass Atlantic City casinos again
The Atlantic City retail industry now finds themselves in competition with the online vertical. Retail properties finished just more than $3 million ahead of iGaming operators in December.
Online casinos set a record for the fifth straight month to end 2024. The sky appears to be the limit for the industry. As Atlantic City casinos enter the heart of the offseason, it’s possible the slips behind iGaming once again.
Atlantic City casinos should regain its supremacy of the gambling in June, July and August. However, until then, it remains in a battle.
