New Jersey reports record high gambling revenue in 2023

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The New Jersey Division of Gaming Enforcement released the 2023 financials for the nine casinos in Atlantic City earlier this week which revealed an all-time high in revenue.

In 2023 Atlantic City casinos reported $5.778 billion in gross gaming revenue. That was nearly 11 percent higher than revenues reported in 2022. From that $5.778 billion, $2.847 billion came from brick and mortar gaming, $1.92 billion came from online gambling including casino games and poker, and just over $1 billion came from sports betting.

From the numbers reported brick and mortar revenue was up 2.2 percent from 2022, online gambling was up nearly 16 percent, while sports betting hold was up 32 percent.

“In 2023, Atlantic City achieved its highest total gaming revenue compared to any other year in its history, with positive results in all three components — casino win, internet gaming win, and sports wagering revenue, said Jame Plousis, chair of the New Jersey Casino Control Commission.

The only revenue metric in the 2023 report that was down year-over-year was revenue from table games. In 2023 table games reported $736.2 million in revenue a miniscule 0.7 percent drop from 2022. The money taken in by slot machines more than made up for the table game dip.

In 2023 slots revenue was $2.111 billion, a 3.3 percent increase when compared to 2022. That was the most revenue produced by slots since 2012 when they accounted for $2.183 billion and Atlantic City was home to 12 casinos.

Atlantic City brick and mortar casinos continue to show growth and rebound from the pandemic which cratered revenue in 2020. In 2019, pre-pandemic, Atlantic City casinos reported $2.686 billion in revenue. This plummeted to $1.5 billion in 2020 when casinos were closed for most of the year. Revenues rebound in 2021 to $2.554 billion and hit $2.785 billion in 2022. That jumped again to $2.847 billion in 2023.

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