Gambling revenues in New Jersey have reached a record high
On Tuesday, the state’s gaming regulator published the results for December and the entire year of 2022. Total revenue from casinos, racetracks, and their partners in December 2022 reached $454.8 million. This marks an increase of $50.7 million, or 12.5%, compared to the same period in 2021, which saw revenues of $404.1 million.
The breakdown provided by the DGE indicates that the December results were significantly bolstered by sports betting revenues. Overall, this sector generated $87.7 million last month, representing a 48.5% increase, or $28.7 million, from December 2021, when revenues stood at $59 million.
Online gaming operators also made a substantial contribution to December's results. Revenue from internet gaming rose by 13.7% to $151.5 million. However, the breakdown revealed that peer-to-peer (P2P) profits decreased by 7.1% to $2.2 million, while revenue from other games increased by 14.1% to $149.3 million.
The DGE's latest report showed that casino profits for December 2022 reached $215.6 million, reflecting a 1.8% increase compared to the same month the previous year.
For the entire year of 2022, internet gaming revenue totaled $1.66 billion, a 21.6% increase from the previous year. Total casino revenue in New Jersey amounted to $2.79 billion, which is a 9% rise compared to the prior period.
Additionally, the gaming regulator released data on the overall performance of the industry in New Jersey. The total revenue reported by casinos, racetracks, sportsbooks, and online gaming operators in 2022 was $5.21 billion, a 10% increase from $4.74 billion in 2021.
Earlier, the American Gaming Association reported on the performance of the U.S. gaming industry.
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