New Jersey Gaming Industry Shows Robust Growth in October
October Brings Strong Revenue Gains for New Jersey Gaming
The New Jersey Division of Gaming Enforcement (DGE) has released its monthly report highlighting the impressive performance of the state’s gaming industry in October. The data reveals notable growth in total gaming revenues, which has translated into substantial tax contributions from the sector.
Overall Gaming Revenues Climb Significantly
According to the DGE, October’s total gaming revenue across all casinos, racetracks, and affiliated partners reached $611.1 million. This represents a strong year-over-year increase of 22.3%. To provide perspective, the total revenue for October of the previous year was $499.8 million.
On a year-to-date basis, New Jersey’s gaming revenue totaled $5.74 billion, reflecting a 10% rise compared to $5.22 billion during the same period last year.
In terms of tax contributions, gaming operators paid $88.2 million in taxes for October alone. Year-to-date, the total gaming taxes collected reached $699.9 million, showcasing the sector’s important role in state revenues.
Strong Performances from Casino and Online Gaming Segments
The report also breaks down results by vertical. New Jersey’s nine casino hotels recorded a combined casino win of $234.7 million for October, a 12.5% increase compared to the $208.7 million reported in October of the previous year. Year-to-date, the casinos generated $2.44 billion in casino win, marking a moderate growth of 3.4% compared to the prior year.
Online casino gaming stood out as a growth leader, with a win total of $260.3 million in October, up 21.8% from $213.6 million in the same month last year. Year-to-date online gaming revenue reached $2.39 billion, an impressive 22.6% increase year-over-year.
Sports Betting Sector Sees Exceptional Growth
The sports betting industry also experienced remarkable gains with $116.1 million in gross revenue for October, representing a substantial 49.8% increase compared to $77.5 million recorded in October of the previous year. On a year-to-date scale, sports betting gross revenue totaled $914.6 million, remaining largely consistent with the $912.8 million from the prior year.
