May 2023 witnessed another remarkable surge in online gambling revenue in New Jersey, with online casinos amassing a staggering $161.4 million.
- There are no indications of NJ Online Casinos slowing down.
- Comparing Online Casino Revenue in 2023 to 2022
On Monday, June 19, 2023, the New Jersey Division of Gaming Enforcement published the most recent revenue data, indicating a growth of 18.7% when compared to the corresponding month of 2022.
After a record-breaking March, where online casinos in the state generated $165.7 million in revenue, surpassing the $160 million mark, the following month of April showed a slight decrease in performance. Nevertheless, it still stands as the second-highest record.
Despite experts’ predictions of a profitable month, the possibility of a near-record month was overlooked by many. March proved to be exceptionally successful for casinos, with a collection of $161.4 million. This surpassed the $160 million milestone for the second time, falling just $4.3 million short of the existing record.
Online casinos in the state have witnessed a growth rate of close to 15% on a year-on-year basis, resulting in a total revenue of 781.5 million generated during the initial five months.
Comparison of Online Casino Revenue in 2023 and 2022
During 2022, the state’s online casinos achieved remarkable milestones, surpassing $140 million in March for the first time and exceeding $150 million in December.
| Month | 2022 | 2023 |
|---|---|---|
| May | $136,016,462 | $161,411,924 |
| April | $136,883,398 | $158,936,991 |
| March | $140,655,053 | $165,711,825 |
| February | $129,976,091 | $142,592,966 |
| January | $137,849,716 | $152,866,817 |
According to the aforementioned table, the only month that generated less than $150 million was February 2023, with a collection of $142 million.
Based on the trends observed last year, it is reasonable to anticipate that online casinos in the state will potentially generate approximately $200 million per month during the initial quarter of 2024.
