Published
FinancialSports BettingIndustryResults

New Jersey gaming revenue up 13% to $531.6m for August

- Total gaming revenue: $531.6m (+13% year-on-year)

new jersey gi
Listen To Article

- Casino win: $280.3m (+2%)

- Internet gaming win: $155.3m (+18%)

- Sports wagering gross revenue: $96.0m (+47%)

- Casino investment alternative tax (IAT): $8.2 (August 2023), $58.7m (YTD)

- Economic development tax: $366,679 (August 2023), $3.89m (YTD)

- Sports wagering handle: $725.8m (August 2023), $6.47bn (YTD)

New Jersey's gaming industry demonstrated continued resilience in August 2023, with growth across all major sectors. Casino win recorded a modest but steady increase, while internet gaming win and sports wagering gross revenue surged to new heights.

This robust growth reinforces the industry's ability to adapt to changing dynamics, as proven with the Covid-19 pandemic and the legalisation of sports wagering in neighbouring states.

The gaming industry's success in New Jersey also translates into substantial tax contributions. Casino investment alternative tax and economic development tax obligations reached a combined $8.57m in August 2023, highlighting the industry's positive impact on the state's economy.

The sports wagering industry continued to attract a significant amount of wagers, with the total handle reaching $725.8m in August 2023. This figure represents a 47% increase year-over-year, demonstrating the growing popularity of sports wagering in New Jersey.

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Nederlandse Loterij
Relax Gaming
Hoiana Resort & Golf
Tipico
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...