The New Jersey Division of Gaming Enforcement recently released the state’s revenue figures for October indicating that its casinos made $487.1 million. Out of this, $166.8 million was from local online casinos. Golden Nugget earned $49.4 million, hence having a 13.3 percent year-over-year increase.
The state’s online casinos’ revenue was over $1 million higher than the previous record they set in March after earning $165.7 million. It was 13.3 percent more than their $147.2 million in October 2022 revenue and 1.8 percent more than September’s $163.8 million revenue.
Atlantic City’s land-based casinos generated $228.1 million having a 3.4 percent year-over-year increase. Table games earned $65.1 million, which was 19.7 percent higher than September’s revenue. Besides, it offset the 1.9 percent drop in slots revenue to almost $163 million.
Even so, sports bets earned casinos $92.3 million, hence recording an 18.4 percent year-over-year increase. The casinos’ overall revenue was 9.3 percent higher than October 2022’s $445.7 million.
New Jersey received $50.8 million in gaming taxes last month. Online casinos and iGaming apps paid $25.1 million in taxes, mobile casinos paid $13.9 million and online bookies paid $11.8 million.
Golden Nugget’s Revenue Record
Golden Nugget faces stiff competition from Resorts Digital and Borgata. But it beat its competitors last month raking in $49.4 million and setting a new monthly state record. The gaming company’s skin includes Betway, BetRivers, and FanDuel.
Its October revenue was higher than the $45.1 million it raked in in September and 28.7 percent more than its October 2022 revenue. Still, this was Golden Nugget’s eighth month to surpass the $40 million revenue mark.
Resorts was the state’s second-highest revenue generator with $46 million. It made $830,000 from online poker which was higher than the $600,000 it earned in September.
The casino’s skin comprises Mohegan Sun Casino, PENN Entertainment, and DraftKings. It has made over $400 million so far this year and exceeded its 2022 revenue.
Borgata was the third most successful gaming operator in New Jersey with $35.6 million in revenue which was 13.2 percent less than its October 2022 profit. Ocean Casino made $4.9 million, Hard Rock earned $8.3 million and Tropicana generated $9.4 million. Each of the three operators’ year-over-year increase surpassed 50 percent.
Caesars Interactive’s revenue dropped to about $6 million and reduced by 34.2 percent compared to its October 2022 profit. Still, its iGaming platform made $77.9 million between January and October this year, which was 19 percent less than last year’s first 10 months’ revenue.
Ocean Casino’s Revenue
The casino generated $19 million in October, which was a 147.4 percent increase from October 2022’s $7.7 million revenue. Yet, it had a 28.4 percent hold on table of $66.7 million.
Ocean Casino’s poker raked in $43.4 million recording a 53.3 percent year-over-year increase and setting a new monthly record. It surpassed the $40.4 million it generated in July 2023.