written and last updated by
Sam Smith at
19 Feb 2024
Journalist, Editorial Department
The New Jersey Division of Gaming Enforcement has released data on the state's gambling market revenues for January 2024. The state generated $559.1 million (51.7 billion rubles) for the month, marking a 28% increase from the $436.9 million (40.4 billion rubles) reported in January 2023.
According to the report, the combined revenue from nine casino hotels amounted to $205 million (18.96 billion rubles). This figure was slightly down from 2023, which saw revenues of $211.7 million (19.6 billion rubles), a decrease of 3.1%. However, this slight decline in the land-based sector was offset by strong financial results from the iGaming market. Online gaming contributed $183.3 million (nearly 17 billion rubles), a 19% increase from last year's revenue of $152.9 million (14.14 billion rubles). The sports betting market experienced a remarkable surge, with revenues soaring by 136.1% year-on-year, rising from $72.3 million to $170.8 million (from 6.7 billion to 15.8 billion rubles).
Looking at the overall statistics for 2023, annual gaming revenue increased by 10.9%, reaching $5.78 billion (534.6 billion rubles). Notably, December showed a positive trend, with the state earning $522.2 million (48.3 billion rubles), a 14.8% increase compared to the same month in 2022.
Throughout 2023, both iGaming and sports betting demonstrated consistent growth. Online gaming generated $1.9 billion (175.7 billion rubles) for New Jersey, while sportsbooks earned $1.01 billion (93.4 billion rubles).
Meanwhile, a study by EKG revealed that online casinos have a positive impact on the revenues of land-based establishments in the United States.
