The New Jersey Division of Gaming Enforcement (DGE) has published the cumulative results for the gaming revenue generated in February 2024. The entity is in charge of all forms of gambling in the state, except for the state-owned lottery. The February 2024 online gaming results demonstrate a distinct growth of 27.9%, compared to $142.6 Million for February 2023.
There is room for improvement as far as the land-based gaming wins of gambling establishments are concerned. While Internet gaming wins have soared to $182.3 Million for the latest reporting period, the revenue generated from Atlantic City’s nine land-based gaming establishments has decreased to $211.6 Million, or 1.6% less compared to February 2023. The year-to-date results also showed a decrease from $426.6 Million in 2023 to $416.3 Million in 2024 or a drop of 2.4%.
Super Bowl bets also surged this year, among other betting markets, generating sports wagering gross revenue of $67.6 Million for February 2024 for casinos, racetracks, and their partners. For the sake of comparison, the February 2023 results stood at $54.6 Million. The year-to-date filings for the sports betting revenue accrued by casinos, racetracks, and their partners amounted to $238.3 Million, or 87.7% more than $127.0 Million in the previous year.
A 12.0% increase in the total gaming revenue for February 2024 has been recorded, from $412.2 Million in February 2023 to $461.5 Million for the same month this year. The year-to-date filings also reflect a 20.2% increase, from $849.1 Million in 2023 to $1.02 Billion in 2024.
For January 2024, the total amount won by Atlantic City’s nine casinos, three horse tracks, and their online partners stood at approximately $599 Million, denoting an increase of 28% compared to January 2023. Casino winnings from land-based gambling for January 2024 amounted to approximately $205 Million, denoting a reduction of 3.1% from the same month in 2023.
Atlantic City’s Casinos Consider Land-Based Gambling as Key Activity
As reported by Fox News, Jane Bokunewicz, Faculty Director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism, commented on the importance of online gaming for Atlantic City’s gambling industry. She said that at this time of the year, retail gambling tended to decrease due to the weather conditions, with gamblers preferring to stay at home.
Although 2024 is a leap year, with an extra day in February, the revenue generated at Atlantic City’s land-based gaming establishments was defined as “modest” by Mrs. Bokunewicz.
Atlantic City’s gambling businesses consider the revenue generated from land-based gambling as their primary activity. This is because money generated from online gambling and sports wagering must be shared with third parties, including sportsbooks and technology platforms, so it is not entirely theirs to keep.
