New Jersey's internet gambling breaks records while casinos struggle

In November 2023, New Jersey's internet gambling industry continued its impressive trajectory, generating over $214 million in revenue. This figure narrowly surpassed the previous record of $213 million set just a month prior, signifying a robust trend in online gaming. James Plousis, chairman of the New Jersey Casino Control Commission, highlighted that the growth of online gaming and sports betting contributed to the best overall gaming revenue results for November in over a decade. Despite these advancements, the physical casinos in Atlantic City struggled to keep pace, with only three out of nine casinos exceeding their in-person revenue from November 2019, the pre-pandemic benchmark. The total gaming revenue in the state, which includes both internet and sports betting figures, amounted to $556 million, reflecting a 15.4% increase compared to the previous year. This surge was partially supported by having two additional weekend days compared to November 2022. Major casinos like Borgata, Resorts, and Golden Nugget showed significant year-over-year increases in revenue, with Borgata alone winning $122.6 million in total. However, in-person gambling remains the core aspect of casino operations in New Jersey, and several venues still lag behind their 2019 earnings. The trend of increasing internet gambling signifies a shift in how residents and visitors engage with gaming in the state, leading to growing concerns among casino operators about the sustainability of their physical establishments. Sports betting in November also scored a noteworthy revenue of nearly $119 million from approximately $1.2 billion in bets, despite a decline in figures from the Meadowlands Racetrack. The overall pattern suggests that while online gambling flourishes, it raises more questions about the resilience of traditional casino formats in the New Jersey gambling landscape.