The New Jersey Division of Gaming Enforcement reported a record $208.1 million in internet casino revenue for September on Thursday, continuing a year-long trend of double-digit growth for the gaming vertical.
Overall casino revenue, when including Atlantic City's brick-and-mortar venues and sports wagering, totaled $558.3 million, a year-over-year increase of 7.1%. The overall percentage increase was dragged down by Atlantic City as the $230.6 million in operator winnings represented a 6.5% decline from 12 months prior.
That drag also held true for the year-to-date numbers compared to 2023. While internet casino revenue has surged 23.2% to more than $1.7 billion and sports betting winnings are up 17.8% to $835.4 million, the $2.15 billion in Atlantic City-based revenue is down 0.9% compared to the first nine months of 2023.
The state collected close to $60.9 million in gaming taxes in September, with more than half — $31.2 million — coming from internet casino gaming. New Jersey's sportsbooks had a strong September to provide $15.1 million in receipts, $592,600 more than the state's nine casinos.
A $200 Million Monthly Haul
Garden State internet casino platforms had long been flirting with $200 million, topping $190 million on four previous occasions this year before finally breaking through in emphatic fashion. September's total was a record for the second straight month, eclipsing the $198.4 million reported for August, and was 27.1% higher than September 2023.
Four of the casino licensees that house internet platforms posted all-time monthly record highs as six operators had record highs. Golden Nugget, which was the first licensee to surpass $50 million in monthly revenue last November, did likewise for $60 million with a state record $61.7 million.
That was up 37% compared to last year, fueled by 2024 bests from FanDuel ($45.3 million) and Golden Nugget's own internal app ($8.9 million). BetRivers contributed $6.7 million to the total as Golden Nugget boasted three of the top eight revenue generators.
Resorts Digital had a second straight month above $50 million with a record $52.2 million total. DraftKings posted the single-highest total of any operator since the NJDGE began breaking out figures on an operator-by-operator basis earlier this year, claiming $45.8 million. The total winnings were a 16.4% improvement for Resorts as PENN Entertainment's app had $2.6 million in revenue and Resorts' internal platform edged over $2 million.
The Borgata also had an overall licensee record of $48.2 million, topping July's standard of $47.1 million. While the Borgata's internal app was denied a second straight month with $20 million in revenue at $19.1 million, BetMGM picked up the slack with a year-best $26 million that was a clear-cut third among platforms.
Caesars Palace rounded out the top five individual platforms with $12.5 million, the bulk of the $18.9 million under Caesars Interactive's umbrella. That was a 34.4% improvement from last year.
Hard Rock set an all-time monthly high of $12.3 million in overall revenue, with its own app ranking sixth in revenue with a record $10.8 million and reaching eight figures for the second time in three months.
The Borgata Stands Alone for Year-over-Year Gains
The Borgata was the lone Atlantic City venue to increase revenue from September 2023, posting a 15% increase to $62.4 million. The bellcow of the boardwalk, the Borgata reported double-digit growth in both gaming verticals — 14.5% to $43.3 million for slot winnings and 11.8% to $17.2 million for table games.
Resorts had the smallest loss among the other eight casinos, with revenue down 3.9% to $14.4 million. Three other venues — Caesars, Hard Rock and Bally's — all had year-over-year declines of less than 5%, with Hard Rock a distant, yet clear-cut, No. 2 in revenue at $44.6 million.
Despite placing third with $28.6 million in winnings, Ocean Casino had the steepest drop in revenue with a decline of 28%. Much of that can be attributed to another hit-and-miss month on the felt.
For the second time this year, Ocean Casino had a sub-6.5% hold on table games, generating just $4.1 million in revenue. That was down 70% from the previous September when it used a 22.8% win rate to reap $13.6 million. Slot revenue fell off less dramatically, with the $24.3 million haul down 5.9%.
