New Jersey Casinos Profit Big in February

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New Jersey online casino fans and retail casino fans both wagered big last month.  The total revenue from retail and online casino wagering in February reached $461.5 million. Total revenue numbers translate to a 12% increase year over year but a 17.5% decrease from January’s $559.1 million.

In-person land-based gaming faced a slight dip in February of about 1.6% year over year. Despite this drop, retail gaming remained the primary source of tax revenue for the state in the gaming market.

According to figures released by the New Jersey Division of Gaming Enforcement, online internet gaming reflected a growth of 27.9% year over year, reaching $182.3 million in revenue. Year to date, online casinos have generated 365.6 million in revenue, which translates to a 23.7% growth compared to the same date range in 2023. Sports wagering and its various forms generated $67.6 million in February 2024, translating to a 23.7% increase year every year.

Retail sports betting had a monthly handle of $37.9 million, while internet sports wagering had a monthly handle of $1.04 billion in the state. 

Tax revenue 

Tax revenue for New Jersey is generated through four different taxes. The state has an 8% gross revenue tax, an 8.5% retail sports wagering tax, a 15% internet gross revenue tax, and a 13% internet sports wagering tax. For the month of February, the state of New Jersey generated a combined total of $50.2 million in tax revenue. Retail sports wagering accounted for the smallest amount, with just $13,174 in tax revenue, followed by race track tax revenue of $165,165. The next highest revenue producer was internet sports wagering, with $4.5 million. Retail gaming tax revenue reached $13.6 million in February, which leaves internet gaming tax revenue. The state of New Jersey and its nine online operators generated $27.5 million in tax revenue in February. 

In terms of total gaming revenue, three casinos reign supreme in New Jersey. Those three casinos are Borgata Resorts Digital and Golden Nugget. Below are total gaming revenue for the top three performers in February:

Borgota – $98.1 million

Resorts digital – $72.2 million

Call the nugget – $62.9 million 

The figures grow even more interesting when you look at sports wagering revenue versus internet gaming revenue versus retail casino revenue.

On the retail gaming side of things, Borgata led to pack with $53.6 million generated in revenue in February. The Golden Nugget online casino remains the most popular online casino with $51.4 million generated in revenue. Sports wagering revenue was led by resorts digital at $24.2 million in revenue in February.

Below is a complete breakdown by operator:

Mac Daniel is a writer for PlayOnlineCasino and PlayOnlineSportsBetting. He has experience writing about a wide variety of topics, including healthcare, tourism, non-profit organizations, and most recently casino and sportsbetting news. To check out more of his work, visit: playonlinemichigan.com