Virtually every form of gambling in New Jersey continues to thrive, but none matched the success of online casinos in May.
The New Jersey Division of Gaming Enforcement (NJDGE) has released the May 2024 revenue numbers, revealing another monthly record in gross gaming revenue.
NJ operators and their partners reported $192.1 million in online casino revenue last month, reflecting a 19.0% year-over-year growth compared to the $161.4 million reported in May last year. This figure also represents a 2.2% increase from the $187.9 million online casino win for April 2024.
May 2024 Second-Highest Revenue Generating Month This Year
New Jersey’s online casino revenue for May 2024 was the state’s second highest since the beginning of the year, surpassed only by March. Here’s the running list of top revenue-generating months::
- March 2024: $197,195,071
- May 2024: $192,072,857
- April 2024: $187,879,067
- January 2024: $183,281,386
- February 2024: $182,334,796
The latest operator to roll out its iGaming offerings in the Garden State, Jackpot City Casino, has been driving these figures. Since its launch in March, Jackpot City Casino has already generated nearly $500,000 in revenue.
Traditional Casinos Also Doing Well
In addition to the success online casinos showed in New Jersey, in May, state gambling regulators say that New Jersey’s casinos, horse tracks offering sports betting, and their online partners collectively earned nearly $510 million from gamblers in May, marking an 8.3% increase compared to the same month last year.
The New Jersey Division of Gaming Enforcement reports that the nine casinos earned nearly $223 million from in-person gamblers, a 5.2% increase from the previous year. Casinos regard this revenue as their core business since they must share earnings from sports betting and internet gambling with third parties, such as tech platforms and sportsbooks, and cannot retain all the profits.
“May provided a promising start for the summer season, and positive momentum has been building,” James Plousis, chairman of the New Jersey Casino Control Commission said in a statement. “Consumer interest has been strong, driven by must-see unique investments recently made in the casino hotels.”
Casinos and tracks have taken in over $6 billion in sports bets so far this year and have kept $513 million of that as revenue.
More Good Gambling News for New Jersey in May
The Garden State also added to its gambling offerings last month when Fanatics officially launched in its final PointsBet state following the recent acquisition of PointsBet’s U.S. business.
On May 8, Fanatics Betting and Gaming (FBG) announced the launch of Fanatics Sportsbook & Casino in New Jersey. This marks the 20th state for Fanatics Sportsbook and the 4th state for Fanatics Casino.
In New Jersey, as in other states, PointsBet customers’ account information and balances have been transferred to Fanatics Sportsbook.
So, expect the strong gaming and sports betting numbers to continue at the top-rated sportsbooks.
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