October 2024 saw mixed results for New Jersey gaming. Online casino revenues broke a record, but sports betting revenues fell 16% year-on-year, and land-based casino revenues dropped by 8.5%. However, November 2024 brought strong performances across all gaming verticals in New Jersey.
Online casino revenues reached a new record, with operators collecting $214 million, an increase of 24.7% year-on-year. FanDuel and DraftKings were the operators most responsible for this figure, covering about 42% of the total revenues in November. FanDuel generated $48 million, while DraftKings brought in $42 million.
Those two operators were also responsible for the bounce back in sports betting revenues. Like many US states in October, New Jersey suffered from low revenues thanks to sports bettor-friendly results. However, FanDuel and DraftKings generated 71% of the $119 million sports betting revenues. That $119 million mark was 24.1% higher than sportsbooks generated in November 2023.
DraftKings collected $35.6 million, while FanDuel was responsible for almost $50 million. No other sportsbook saw more than $10 million, with BetMGM generating the next highest amount at nearly $9.4 million.
Retail casino revenues increased by 4.2% year-on-year, reaching $223.9 million in November. That total didn’t turn around the 1.1% decrease in year-to-date land-based casino revenues from 2023 to 2024. The most significant contributor to land-based casino revenues was Borgata Hotel Casino & Spa, which contributed $57.6 million.