New Jersey reports another strong month in December 2022

Atlantic City and New Jersey have often cited the beating pulse of the gambling industry in the United States and a weathervane of what to expect next. Recovery and growth have been two words inseparably linked with the Garden State over the past several months and its land-based and online gaming operations.

In its newest update, the New Jersey Division of Gaming Enforcement revealed the results for December 2022. The regulator broke down the results into several individual sections to make tracking the data easier.

In total, the gaming revenue realized by casinos, racetracks, and their partners hit $454.8m in the month, or a 12.5% increase from the $404.1m reported n December 2021. The total gaming revenue reported for the full year was $5.21bn or up 10% from the full-year results for 2021 which stood at $4.74bn.

The division provided individual breakdowns of specific segments and companies. For casino win, the Division of Gaming Enforcement said that the nine casino hotel properties generated $215.6m in December 2022. This was a slight but important 1.8% increase from the $211.8m reported by the casinos in December 2021.

The year-to-date, meaning the period from January 2022 through January December 2022, casino win stood at $2.79bn, up 9% from the same period last year, when the total casino win was $2.55bn.

Internet gaming also surged in both the monthly and annual results, with the Division reporting that Internet Gaming Win achieved by the casinos in the month hit $151.5m, or 13.7% gain on the $133.2m reported in December 2021.

Comparing the full-year results, 2022 brought in $1.66bn in Internet Gaming Win, behind the land-based sector, but definitely gaining significant momentum. In fact, Internet Gaming Win was up 21.6% for the full year results from 2021 when the industry reported a total of $1.37bn.

Not least, there were sports wagering results. The gross revenue in the segment was posted at $87.7m for December 2022 and reported by all relevant licensed and authorized betting partners. While the total revenue may seem a little low, it was a massive 48.5% increase compared to the $59m reported in December 2021.

The full-year results for 2022 in terms of sports betting gross revenue stood at $763m, surprisingly a decline of 6.5% from the $815.8m driven in the entirety of 2021. The latest monthly results are a slight improvement from November 2022's results, which stood at $441.1m.

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