The New Jersey Division of Gaming Enforcement reported a record $198.4 million in adjusted gross revenue for internet casino gaming for August, continuing a pattern of double-digit growth for the vertical this year.
The previous record for monthly internet casino revenue was $197.2 million established in March. It was the fourth time this year operator winnings surpassed $190 million, but the Garden State again fell just short of joining Michigan as the only states among the seven with iGaming to reach $200 million.
Still, August's total represented a 27.8% increase from the $155.3 million reported last year, as revenue from table games and slots totaled nearly $196 million. The $2.4 million online poker rake was nearly flat.
Six of the seven Atlantic City casino licensees posted double-digit percentage gains from August 2023, and it was the first time in state history going back to the 2013 launch that two venues surpassed $50 million. Revenue was also up 1.5% from July, as it was the first time winnings topped $190 million in back-to-back months.
Gains in internet casino gaming continued to severely outpace those from Atlantic City casinos, which reported a 4.9% increase in winnings to $294 million. That moved them closer to level compared to the first eight months of 2023, with the $1.92 billion in total revenue down 0.2%. In comparison, the $1.52 billion in iGaming win is up 22.7%.
The state collected more than $56.7 million in gaming taxes for August, with iGaming accounting for more than half that amount with $29.7 million. Receipts from Atlantic City were just shy of $19 million, while the remaining $8 million came from the $62.7 million generated by Garden State sportsbooks.
DraftKings Pushes Resorts Over $50 Million
After a year-long flirtation with $50 million monthly revenue, Resorts' four internet platforms finally reached the benchmark in August with $51 million thanks to a monstrous effort from DraftKings. The digital titan led all operators with $43.2 million in winnings, the highest monthly total of any individual platform since the NJDGE began breaking out such figures at the start of the year.
ESPN BET gave Resorts bookends for the top 10 revenue totals among operators with $3.2 million, a gain of nearly $433,000 from July. Resorts' total revenue was up 20.6% from last year, while the $391.5 million in year-to-date winnings represents a 21.2% increase.
FanDuel narrowly missed bettering its record revenue of $41.6 million in March, landing at $41.3 million. It was enough to help power Golden Nugget to the top spot for combined revenue among Atlantic City casinos at just over $55 million, a 34.9% increase from August 2023.
Golden Nugget, which was the first venue to top $50 million last November, has reached that plateau for 10 consecutive months. Its $428.5 million in winnings leads all Atlantic City licensees and represents a 30.9% increase from the first eight months of last year.
The Borgata continues to be the only licensee with two platforms in the top five among individual operators. Its own platform surpassed $20 million for the first time this year, clearing the standard by $295,000, while BetMGM grabbed the No. 3 spot overall with $22.2 million. The $45.8 million in total revenue from its platforms was up 13.7% year-over-year, increasing its year-to-date gains to 4.6% at $349.7 million.
Caesars Palace Online completed the top five by narrowly topping $14 million, while Hard Rock came within $61,300 of $10 million. Golden Nugget's own platform had a fall off of nearly $2 million from July to $6.7 million in finishing seventh, while Rivers ($5.9 million) and Bally's ($5.6 million) rounded out the group of nine with at least $5 million in winnings.
Hard Rock Continues to Buck Atlantic City Trends
As for the casinos along the Atlantic City boardwalk, August was generally positive, as Resorts was the only venue not to post year-over-year gains. Hard Rock continued to shore up the No. 2 spot, posting a year-best $55.4 million in revenue that represented a 9.2% gain from 2023.
Slot winnings surpassed $40 million for the first time, boosted by a record drop of $422.6 million and a 9.5% hold. For the year, Hard Rock has amassed $372.3 million and leads all operators in year-over-year gains at 10.1%.
The Borgata led all venues with $74.2 million, up 1.6% from 12 months prior, as slot winnings ticked 4.9% higher to $53.6 million. After a record promotional spend of $15.4 million on slots in July, the Borgata pulled back on such offers to $11.5 million for August, which may have contributed to a 9.5% decline in drop to $587.5 million.
