New Jersey Gaming Revenue Hits $557 Million in November 2024

Sports Betting Sees Double-Digit Growth

Sports wagering gross revenue hit $119 million for November 2024, marking a 24.1% increase compared to $95.9 million in November 2023.

Here’s how key players performed:

• Meadowlands (FanDuel): Maintained its dominance with $50.6 million in revenue, although it faced a 12.3% decline year-over-year .
• Resorts (DraftKings): Saw $38 million in total revenue, nearly doubling its earnings from the previous year . Online wagering led the way with $37.9 million, while retail brought in $41,673.
• Monmouth Park (Caesars Sportsbook): A standout performer, Monmouth Park achieved $2.5 million in revenue, a 163.7% increase compared to last November .
• Borgata (BetMGM): Reported $10.7 million in total revenue, with $9.4 million from online betting and $1.3 million from retail.

Other notable contributors include:

• Golden Nugget: $10.1 million
• Hard Rock: $7.8 million
• Caesars Interactive NJ: $4.3 million

The numbers also reflect a thriving year-to-date performance: from January to November, total sports wagering revenues hit $1.03 billion, up 15% compared to $897.2 million during the same period in 2023.

iGaming Continues to Dominate

The iGaming sector continued its impressive run, reporting $214 million in revenue for November—a 24.7% increase from $171.6 million a year ago. This marks the third consecutive month where iGaming revenues topped the $200 million threshold.

Year-to-date, iGaming revenues totaled $2.16 billion, up 23.8% from $1.74 billion for the same period in 2023.

Casino Revenue Holds Steady

New Jersey’s nine casino properties reported $223.9 million in revenue for November, reflecting a modest 4.2% year-over-year increase from $214.9 million in November 2023.

While casino win remains stable, year-to-date figures showed a slight 1.1% decline, with total revenues reaching $2.59 billion compared to $2.62 billion in 2023.

Total Market Performance

The combined strength of sports betting, iGaming, and casino operations pushed total gaming revenue for November to $556.9 million, a jump from $482.4 million in the previous year.

Year-to-date, total revenues hit $5.78 billion, reflecting a solid 9.9% increasefrom $5.26 billion reported in 2023.

Key Takeaways

• Sports Betting: $119 million in November revenue (+24.1% YoY), $1.03 billion YTD (+15%).
• iGaming: $214 million in November revenue (+24.7% YoY), $2.16 billion YTD (+23.8%).
• Casino Revenue: $223.9 million in November revenue (+4.2% YoY), $2.59 billion YTD (-1.1%).
• Total Gaming Revenue: $556.9 million for November (+15.4% YoY), $5.78 billion YTD (+9.9%).