New Jersey’s casino and sports betting industry experienced a record-breaking year in 2023, with total revenues reaching $5.8 billion, according to data released by the New Jersey Division of Gaming Enforcement. This marked an 11% increase from the previous year. However, the news wasn’t all positive for Atlantic City’s nine casinos, as the majority of them continued to fall short of pre-pandemic levels.
Out of the nine casinos, only three managed to surpass their 2019 earnings from in-person gamblers. The Borgata, Hard Rock, and Ocean casinos were the exceptions, driving the overall increase in in-person winnings for 2023. Collectively, the casinos accumulated $2.8 billion from in-person gamblers, exceeding 2019 figures. However, the majority of this success was attributed to the three newest casinos.
Despite this, officials remain optimistic about the industry’s performance. James Plousis, chairman of the New Jersey Casino Control Commission, highlighted the highest in-person casino winnings in a decade, a more than 15% increase in internet gambling revenue compared to 2022, and record-breaking sports wagering revenue. Plousis believes that New Jersey’s vision for a vibrant and competitive Atlantic City is being realized with the addition of online gaming and sports betting.
Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, echoed this sentiment, emphasizing the significant contributions of internet gaming and sports wagering to the industry’s revenue. These new gaming products accounted for nearly 46% of total gaming revenue for the year, showcasing the success of the industry’s innovative offerings.
In terms of individual casino performance, the Borgata emerged as the leader, generating $729 million in in-person earnings, a slight increase from the previous year. Hard Rock followed with $512 million, experiencing a 4.1% growth, while Ocean claimed nearly $415 million, reflecting an impressive 16.3% increase.
When considering both in-person and online earnings, Borgata still maintained its top position, matching its earnings from the previous year with $1.3 billion. Golden Nugget saw a 15.5% increase, accumulating nearly $672 million, while Hard Rock recorded $626 million, marking an 8.6% increase. Ocean continued its success with approximately $473 million, reflecting a significant 21.4% growth.
Internet gambling proved to be a major revenue generator, surpassing $1.9 billion in 2023, a 16% increase from the previous year. Resorts Digital led among internet-only entities, boasting $822 million in earnings, a significant 50.4% growth. Caesars Interactive Entertainment NJ, on the other hand, experienced a decline of 20.7%, accumulating $90 million.
Overall, New Jersey’s casino and sports betting industry celebrated a record-breaking year in 2023, largely driven by online gaming and sports wagering. While most of Atlantic City’s casinos still face challenges in returning to pre-pandemic levels of in-person gambling earnings, the industry’s innovative offerings offer hope for a thriving future.
