written and last updated by
Sam Smith at
18 Oct 2024
Journalist, Editorial Department
The New Jersey Division of Gaming Enforcement has released financial data for September 2024, revealing that the state's iGaming market has set a new record, generating over $208 million (20 billion rubles). This marks the first time monthly revenue for this sector has surpassed the $200 million (19.3 billion rubles) threshold, highlighting the growing significance of online gaming amid declining profitability for the state's brick-and-mortar casinos.
Despite these record figures, gaming operators do not retain the entire revenue amount, as a portion is allocated to third-party technology providers and other partners. Consequently, operators continue to focus their business primarily on the land-based industry.
Thanks to the growth in the iGaming sector, the combined revenue of casinos, two racetracks with sportsbooks, and their partners reached $558 million (53.8 billion rubles) in September, a 7.1% increase compared to the previous year.
The sustained positive trend in New Jersey's online gaming market has led to Atlantic City's total revenue hitting its highest level in September in the past decade. For the third consecutive month, the combined figure has exceeded $500 million (48.2 billion rubles). In contrast, this milestone was achieved only once in 2023—during August.
In 2024, online gaming accounted for 40.8% of the total industry revenue for the first nine months, reflecting the increasing importance of iGaming in the local gambling business model.
Jane Bokunewich, director of the Lloyd Levenson Institute at Stockton University, which analyzes the Atlantic City gaming sector, commented on the September results, describing them as mixed. While the iGaming market is thriving, the land-based sector continues to lag behind.
It is worth noting that New Jersey's iGaming segment recorded a record monthly revenue in August.
