NJ DGE November figures show internet gaming continues to be the star

The New Jersey Division of Gaming Enforcement released its November 2022 total gaming numbers on Friday, which reflected a marginal 0.3% year-on-year increase in gambling revenue. Total Gaming Revenue reported by casinos, racetracks and their partners was $441.1 million for November, up from $439.6 million reported in November 2021. For year-to-date, Total Gaming Revenue reported by casinos, racetracks and their partners was $4.76 billion, reflecting a 9.8% increase from $4.33 billion reported in the prior period.

Casino Win for the nine casino hotel properties was $214.6 million for November, reflecting a 3.7% increase compared with $206.9 million for November 2021. Year-to-date Casino Win for the nine casino hotel properties was $2.57 billion, reflecting growth of 9.7% compared with $2.34 billion for the prior period.

For the month of November 2022, Internet Gaming Win reported by casinos and their partners was $146.2 million, reflecting growth of 23.9% compared with $118 million for the prior period. For the year-to-date period, Internet Gaming Win reported by casinos and their partners was $1.51 billion, reflecting growth of 22.5% compared with $1.23 billion for the prior year-to-date period.

“Internet gaming continues to be the star of Atlantic City gaming operations — representing 37.7% of total gross gaming revenue earned by Atlantic City’s casino operators in the month of November, compared to 32.6% in November 2021 and 17.0% in pre-pandemic November 2019 ,” Jane Bokunewicz, faculty director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism, Stockton University School of Business, stated.

Sports Wagering Gross Revenue reported by casinos, racetracks and their partners was $80.4 million for November 2022, reflecting a 29.9% decrease when compared with $114.8 million in the prior period. Sports Wagering Gross Revenue reported by casinos, racetracks and their partners was $675.3 million for the year-to-date, reflecting a 10.8% decline when compared with $756.7 million for the prior period.

Looking ahead, Bokunewicz said the industry could be facing strong headwinds finishing out 2022 and beginning the first quarter of 2023.

“While impossible to predict, it may be reasonable to expect a slowing of internet gaming revenue growth and modest, if any, growth in brick-and-mortar revenues because of these external pressures. Depending on their business models, each Atlantic City gaming property may weather these challenges differently,” Bokunewicz said.

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