In May, New Jersey’s casino and sports betting industry demonstrated robust growth, with total revenue reaching nearly $510 million, marking an impressive 8.3% increase compared to the previous year. This positive performance was largely driven by strong gains in both in-person and online gambling segments, reflecting ongoing consumer interest and a recovering economy.
A bright and luxurious casino resort illuminated in the evening skyline.
Internet gambling specifically saw a significant uptick, generating $192 million in May, a 19% increase year-over-year and just shy of the record set in March ($197 million). This growth underscores the rising popularity of online gaming platforms, which offer convenience and a wide array of betting options to consumers. Online gamers can choose from wagering at traditional online casinos, crypto casinos, and even anonymous casinos that don’t require players to share personal details, like their name and phone number. Anonymous casinos, like the ones on this no verification casino list, ensure that players are able to keep their private details safe and have been gaining popularity in recent years, especially as cybercrime is increasing. With online wagering seeing huge growth in New Jersey, it’s clear that this iGaming market is poised for success, especially as more people use the internet daily for work, entertainment, or both.
According to data from the New Jersey Division of Gaming Enforcement, the nine physical casinos in the region earned nearly $223 million from in-person gamblers, representing a 5.2% year-over-year increase.
James Plousis, Chairman of the New Jersey Casino Control Commission, expressed optimism about the promising start to the summer season, noting that consumer interest has been bolstered by recent investments in casino hotels.
Among the casinos, Borgata, Ocean, and Hard Rock stood out by exceeding their pre-pandemic (May 2019) in-person gambling revenues. Borgata led with $61.4 million, marking a 1.5% increase, followed by Hard Rock with nearly $50 million, up by a significant 28.6%. Ocean also performed well with close to $32 million in earnings, reflecting a 7.5% rise. However, other casinos such as Tropicana and Bally’s experienced declines in in-person gambling revenue, highlighting ongoing challenges in the industry.
When factoring in sports betting and internet gambling revenues, Borgata emerged as a top performer with nearly $111 million in total earnings, a slight decline of 0.3%. Golden Nugget showed substantial growth, reaching $68.1 million, up by 21.2%, while Hard Rock continued its upward trajectory with nearly $64 million, marking a 32.6% increase. Ocean and Bally’s also saw notable gains in this combined category, reflecting a positive overall trend in the market.
In terms of sports betting, New Jersey casinos and tracks collectively accepted bets worth approximately $839 million in May alone, retaining $78.7 million as revenue after paying out winnings. This robust activity contributed to a year-to-date total of over $6 billion in sports bets, with revenues totaling $513 million. The continued expansion of sports betting highlights its pivotal role in driving overall revenue growth for the state’s gambling industry.
Looking ahead, the New Jersey gambling sector remains poised for further growth as consumer confidence and economic conditions continue to improve. While casino gaming is booming, other gaming niches, like video gaming, are also growing. The ongoing investments in casino infrastructure and the increasing popularity of online gambling platforms and anonymous casinos are expected to sustain momentum in the coming months, despite challenges posed by inflation and rising operational costs.
Conclusion
In conclusion, New Jersey’s casino and sports betting industry has shown resilience and adaptability in navigating post-pandemic challenges, with May’s revenue figures reflecting strong recovery and optimistic prospects for the future. As the industry evolves and changes, continued focus on innovation, customer experience, and regulatory compliance will be crucial in sustaining growth and profitability in the competitive gambling landscape.
