September 2023 witnessed another remarkable surge in revenue for online casinos in New Jersey, surpassing the $160 million mark. This continued success showcases their incredible growth and reinforces the upward trajectory they have been experiencing since 2023.
This article discusses
- The revenue of Online Casino Partner in September 2023.
- The YoY growth of New Jersey’s online casinos in September 2023 has significantly increased.
In March 2023, online casinos in New Jersey achieved a remarkable milestone by generating a record-breaking revenue of $165.7 million, the highest in a decade of legalized online gambling. However, in September, they fell slightly short of this extraordinary accomplishment, coming close at approximately $163.8 million, missing the record by less than $2 million.
The main contributors to the near-record-breaking revenue are the online partners of Resort AC, who generated approximately $45.5 million in September. Following closely behind are the online partners of Golden Nugget AC, earning just over $5 million. Borgata Online secures the third spot with a total revenue of slightly over $41.5 million.
The revenue figures of the remaining five land-based casino partners were significantly lower than those of the top three.
- The amount of $8.4 million has been allotted to Tropicana AC.
- The amount of $6.9 million has been allocated to Bally’s AC.
- The cost of Hard Rock AC is $6.2 million.
- Caesars Atlantic City – A staggering $5.6 million.
- The cost of the Ocean AC is $4.4 million.
Once again, the YoY figures have witnessed a significant surge.
According to the most recent revenue data released by the New Jersey Division of Gaming Enforcement, NJ online casinos have experienced a notable 20% growth. In comparison to September of the previous year, the revenue has increased by an impressive 21.1%, surpassing the $135.2 million mark.
The revenue increase for every land-based partner is particularly remarkable. Although most online casinos witness a significant growth, Caesars Interactive stands out as the only brand that has experienced a decline of 17.5% compared to last year.
Bally’s, a renowned casino operating both offline and online, has emerged as a top choice in the state. Initially facing a sluggish beginning, the online casino has now triumphed in terms of revenue growth, skyrocketing by an astonishing 86% to reach $7 million, surpassing last year’s $3.7 million.
In September, Resorts Digital achieved an astounding 32.9% growth by generating $45.4 million in revenue. The company’s partnerships with well-known NJ casinos like DraftKings and Resorts Casino have played a significant role in this success.
Despite undergoing a significant overhaul in 2023, which resulted in a completely new layout and subsequently impacted revenue figures, Hard Rock Bet casino managed to achieve a remarkable 9.2% increase in revenue, amounting to $6.2 million.
Borgata AC wing, BetMGM, Borgata Online, Wheel of Fortune Casino, and other brands, operating under the umbrella of the Borgata, continue to maintain their dominance in the state with an impressive revenue of $41.6 million in September 2023. Although the increase is relatively modest at 1.1%, it is undeniable that these brands have a strong and influential presence in the market.
