New Jersey continues to improve gambling results in May 2023

New Jersey has been on a nearly-unending journey of improving its overall results, with the Division of Gaming Enforcement (DGE) reporting new strong results that continued to beat annual forecasts and were higher than the same period from a year before. On Monday, the regulator released the numbers for May 2023, outlining a total gaming revenue of $470.9m for the period.

This was a 9.4% increase from the $430.6m that was reported in May 2022, and so far as the results over the first five months of 2023 go, New Jersey posted $2.27bn which is also an 11.7% increase on the same period from a year ago. The DGE further offered a detailed breakdown of the results by segment:

• Casino Win: $227.3m
• Internet Gaming: $161.4m
• Sports Wagering: $82.2m

Nearly all segments improved over May 2023, although there was one noticeable loser – the land-based sector. In-person gamblers seemed to withdraw from most properties bar three, depressing the monthly results a bit. In total, in-person gamblers generated $227.3m in casino win for the licensed retail properties in May 2023, which was down by 2.4% from the $233m posted in May 2022.

Nevermind this small hiccup in May, the total gross revenue from in-person gamblers was in fact higher over the first five months at the nine land-based casino properties in New Jersey, which generated $1.1bn, or a 3.1% increase on the $1.08bn from a year before.

Although casino win seemed to flag a bit, internet gaming more than made up for it. The reported internet gaming by the casinos and their partners stood at $161.4m for the month, marking an 18.7% gain compared to the $136m collected from this particular segment in May 2022.

In terms of the first five months of the year, 2023 saw a total of $781.5m collected from internet gaming, or 14.7% compared to the $681.4m collected during the same period last year from the interactive gambling segment. Then, there was sports gambling. The segment marked a noticeable increase year-over-year.

In May 2023, sports wagering gross revenue reached $82.2m. That was a 33.4% gain from the $61.6m posted in May 2022. Overall, the first five months of the year saw casinos, racetracks, and their partners generate a total of $374.5m, or a 39% gain on the $269.4m generated from a year before.

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