The internet gambling industry in New Jersey keeps booming, and recent statistics prove that. Data confirms the state’s iGaming revenue increased by 19.9% in May 2024 compared to last year. It’s an impressive record for the Garden State this year. Notably, many factors contribute to the current growth of the industry. At the moment, online casinos in New Jersey record more player sign-ups than ever before. Also, new operators keep joining the market, which will lead to more growth in the coming years. In this post, we’ll discuss the factors influencing the industry growth and provide insights into what New Jersey gaming revenue will look like in the future.
Since the start of 2024, the New Jersey Division of Gaming has reported significant growth in the state’s gambling industry. The report showed a 28.0% increase in January compared to 2023’s beginning. Specifically, NJ generated $559.1 million in the first month of 2024, a $122.2 million difference from $436.9 million in January 2023. The increase in betting revenue was also impressive compared to the $522.2 million generated in December 2023. The state once again smashed the record on iGaming alone. Currently, the New Jersey casino revenue stays at $197.2 million, a 19.9% increase from 2023. To put things into perspective, the NJ online casinos now generate $42.6 million less than their land-based counterparts. Also, the growth in land-based betting revenue remains minimal in comparison. The section records $239.8 million – a 4.9% increase YOY. 
Without any surprise, slot games champion the revenue boost in NJ’s iGaming market. These games with spinning reels account for $194.8 million of all online bets. That’s just $2.4 million less than the total $197.2 million revenue. Notably, the $2.4 million was generated by internet poker. It’s the only table game tracked by the New Jersey Division of Gaming. The top New Jersey online casinos leading the market remain Golden Nugget, Resorts Digital, and Borgata. Golden Nugget leads with $57.1 million casino monthly revenue. For Resorts Digital and Borgata, the value sits at $48.9 million and $43.8 million, respectively.
From the table below, you can get insights into the revenue generated by different New Jersey online casinos in May 2024 compared to 2023. It also highlights the New Jersey gambling tax paid by each operator.
| Brand | Total Revenue May 2024 | Total Revenue May 2023 | Taxes May 2024 | Taxes May 2023 |
| Bally's Atlantic City | $8,546,110 | $6,767,140 | $1,281,915 | $1,015,548 |
| Borgata | $43,952,025 | $44,012,713 | $6,605,823 | $6,651,693 |
| Caesars Interactive | $332,123 | $8,311,892 | $49,892 | $1,239,311 |
| Golden Nugget Atlantic City | $54,502,531 | $43,467,840 | $8,176,603 | $6,517,773 |
| Hard Rock Atlantic City | $10,403,264 | $5,725,676 | $1,560,489 | $858,851 |
| Ocean | $6,852,664 | $3,428,650 | $1,030,308 | $518,394 |
| Resorts Digital | $49,265,099 | $41,680,670 | $7,408,535 | $6,229,268 |
| Tropicana Atlantic City | $16,703,580 | $8,017,343 | $2,506,488 | $1,202,602 |
| Total | $192,072,857 | $161,411,924 | $28,847,372 | $24,233,440 |
The continuous growth of internet gambling revenue in New Jersey is due to several reasons. First, the state is one of the few to have legalized online casinos. So, it’s a hot spot for iGaming operators who want a presence in the US. Furthermore, players find it convenient to gamble online than at land-based casino floors. Anyone will agree that it’s easier to play slots via a smartphone than visiting a casino in Atlantic City. Hence, the revenue record for New Jersey is higher now since online casino gambling has become commonplace. This was already confirmed with sports betting in the state. It’s impossible to skip the geographic advantage. New Jersey boasts high proximity to New York, a major metropolitan area. Real money casino gambling is not legal in NY, so many players in the state opt for NJ online casino sites. It’s less than a 2-hour drive.
New Jersey sports betting and casino sites can anticipate much brighter days in the coming years. As the recent internet gambling revenue reports confirm, iGaming platforms are catching up with land-based establishments. It’s just a matter of time before online casinos and sportsbooks become the number one revenue-generator for the state. It’s also worth mentioning that the New Jersey gambling tax for players is 3%, which is minimal compared to other states. As a result, the situation is friendly for gamblers, as they can keep most of their winnings. This will encourage players to join the trend, making the future favorable for NJ online casinos.
From the market outlook, it’s only up for New Jersey online casinos. Internet gambling revenue has been climbing since the start of 2024, and things are expected to stay that way. It’s good news for the state government, operators, and players. Increased revenue generation means extra money for the government and gambling brands. Subsequently, they can improve the quality of online casinos and sports betting platforms for gamblers to leverage.
