New Jersey records strongest monthly GGR

Jake Graves December 18, 2023

SiGMA news

New Jersey records strongest monthly GGR

November marked one of the strongest months for iGaming in the US state of New Jersey, with gross gaming revenue (GGR) amounting to a record $171.5 million. This can be attributed to a surge in online slot and table game revenue caused by increased spending on “at-home” entertainment options, as a PaySafe report indicates.

The report also highlighted that inflation had not curbed the enthusiasm for sports betting, which may have been spilling over into the iGaming sector more widely. Year-on-year results showed a 17 percent increase compared to November 2022.

Online casino games in pole position

Golden Nugget Casino led the way with $50.1 million in GGR closely followed by Resorts with $47.2 million and Borgata Online with $37.9 million accrued to a total 17 percent increase on November 2022’s figures.

The retail sector, which included land-based venues, only experienced nominal gains, however, with casino revenue amounting to $214.9 million an ever so slight increase of 0.2 percent. Table games contracted 6.5 percent with slots making a sizeable jump in contract with a 3 percent jump to a total of $161 million.

Land and online-based coalition

Interestingly for the state of New Jersey, iGaming has successfully coexisted with the land-based sector, attracting a different audience while maintaining foot traffic at atlantic City casinos.

Analyst, Jane Bokunewicz has suggested a strong argument for the lasting appeal of in-person gaming alongside as opposed to instead of online casino performance. According to Bokunewicz, this is often seen as a fear factor for regulating gambling land-based casino resort industry is loath to move forward with iGaming.

Implications of the smoking ban

This success comes in the tarnished light of a hotly contested debate surrounding New Jersey casinos where workers and activists are demanding Atlantic City resorts finally fold an exemption of the state’s public smoking ban, which still allows 25 percent of casino floors to allow indoor smoking.

In the context of the iGaming success in the state, land-based casinos are arguing that their profits would plummet further if a smoke ban were introduced because the winnings are not solely possessed by the casino but the proceeds are shared with online games through third-party suppliers.

SiGMA Eurasia

SiGMA’s world-renowned summits will return in 2024 when SiGMA Eurasia graces the industry’s calendar once again. Dubai will be the host yet again for the much-anticipated conference and exhibition from the 25th – 27th of February. Get your tickets now to ensure you won’t miss out!