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New Jersey's online casino industry recorded revenue of over $200 million in September, making it the first time since operations were legalized more than a decade ago for this amount to be reached.
However, less than 70 miles down the Atlantic coast, land-based casinos in Atlantic City have revealed disappointing results, that have resulted in month-on-month and year-on-year revenue declines.
It is inevitable that online casino revenue is going to get closer to that of land-based alternatives thanks to improving quality and choice. Online casinos now offer a wide variety of games and payment methods, and consumers looking for convenience and speedy service can use a casino with instant withdrawal.
These overwhelming benefits have seen the online gambling industry grow worldwide, and the few US states with licensed operations are also experiencing market growth.
The latest figures announced by the Division of Gaming Enforcement show that New Jersey's online casino industry earned revenue of $208.1 million during September, smashing the previous record of $198.4 million set just the month before.
2024 has been a great year for New Jersey gambling, with its nine best months of revenue all coming this year. The first 20 month's revenue for online casino gambling in New Jersey didn't reach September's figures, and the industry is now in touching distance of Atlantic City's land-based industry which recorded revenue figures of $230.6 million.
New Jersey's figures show a year-on-year increase of 27% for its online casino revenue, while Atlantic City posted a disappointing dip of 6.5% on last year's figures.
September's numbers showed an even greater month-on-month drop of 21.6%. However, the industry was braced for a dip with July and August typically busier months for tourists, with numbers dropping sharply from September and the gambling industry relying more on digital gaming.
Despite the changing nature of the industry, the land-based casinos of Atlantic City are not in danger any time soon. Using online gaming to complement the in-person gambling experience is something New Jersey has mastered, and the casinos will tick over until next spring and summer when they will burst into life again.
Atlantic City's nine casinos rely heavily on slot machines for their profits, with the Borgata Casino welcoming more than $43 million if its $63 million gaming win from these machines. Just over $19 million came from its table game operations and a little under $2 million came from poker.
Online slots and table games have the benefit of being available to anyone over the age of 21. In comparison, the land-based casinos of Atlantic City are limited by who is close enough to visit, and whether games or tables are available for customers when they go in.
There are 29 licensed online operators available in New Jersey, and consumers also have the option of exploring offshore alternatives. This incredible variety makes it easy for consumers to find the markets they are looking for at any time of the day or night, no matter where they are.
As New Jersey braces itself for fall and winter, its online casino industry is braced to continue its record-breaking returns, and we could even see figures surpassing that of land-based alternatives in Atlantic City.
All of this is great news for the state that benefits from tax revenue and the programs these go towards, including helping eligible senior and disabled citizens with energy bills, property taxes, health services, and transportation.
