NJ internet gaming continues surge in latest DGE report

NJ Biz
NJ internet gaming continues surge in latest DGE report
Wild Casino

In the latest gaming report from the New Jersey Division of Gaming Enforcement (DGE), the numbers show another major month for internet gaming here in the Garden State.

“Internet gaming revenues turned in a near-record, single-month performance,” said Jane Bokunewicz, faculty director of the Lloyd D. Levenson Institute of Gaming, Hospitality, and Tourism (LIGHT), Stockton University School of Business, in her analysis of the February 2024 report, released March 15 by DGE. “At $182.3 million in revenue, February 2024 fell just shy of last month’s record performance.”

“Internet gaming win grew nearly 28%, reaching its second highest monthly result since inception,” said James Plousis, chairman, New Jersey Casino Control Commission.

“Remote gaming options continue to be critical for Atlantic City’s gaming operations, especially in the shoulder months when seasonal weather patterns are most likely to keep gamblers at home,” Bokunewicz noted. “Despite an extra day in the month, a wet and wintry February kept brick-and-mortar revenues for Atlantic City casinos modest. While monthly totals did not gain on 2023, they are in range for activity seen post-pandemic.”

Some of the toplines of the report include:

  • Total gaming revenue (reported by casinos, racetracks, and their partners) of $461.5 million – a 12% increase over February 2023
  • Total gaming revenue (just casinos) of $427.8 million – a 13.3% increase over February 2023
  • Casino win (brick-and-mortar) of $211.6 million – a 1.6% decline from February 2023
  • Sports betting handle of $1.08 billion (versus $847.4 million last February) and a total gross revenue of $67.6 million – a 23.7% increase over February 2023
  • Top three properties for casino win were: Borgata ($53.6 million), Hard Rock ($41.1 million), and Ocean Casino ($31.1 million)

“February’s casino win was stable with a slight decline,” said Plousis. “Over time, casino win in the midst of the traditional off-season has been relatively consistent – in each of the past three years, February’s casino win has exceeded $210 million.”

“Sports wagering also turned in a solid month in February 2024, improving nearly 70% compared to February 2023,” Bokunewicz noted. “When combined, the solid performance of remote gaming and modest returns in brick-and-mortar revenues resulted in a respectable 13.3% increase year-over-year and maintained a 14.3% lead on 2023 for the year-to-date.”

Plousis concluded his remarks by pointing out that March is Problem Gambling Awareness Month here in New Jersey. The designation – through proclamation by Gov. Phil Murphy – coincides with National Problem Gambling Awareness Month.

“This time each year, we pause to acknowledge that some people develop problems with gambling or are at risk for addiction,” said Plousis. “Education and treatment programs are available. If you or anyone you know has a gambling problem, call 1-800-GAMBLER.”

Seton Hall University’s School of Law held its Fifth Annual Gaming Law, Compliance, and Integrity Bootcamp earlier this month, drawing a record of more than 130 participants including a who’s who roster of speakers.