Gross gaming revenue for online slot and table games soared to $171.5 million, which is the highest yield recorded in a single month taya365 by the regulator, the New Jersey Division of Gaming Enforcement.
Online Casino Games Lead the Way in November
The strongest online performance in iGaming has been posted amid increased spending on “at-home” entertainment options as confirmed by a recent PaySafe report, which indicated that inflation had not curbed enthusiasm for sports betting, and this may be spilling over into the iGaming sector as well.
The year-over-year results have been particularly encouraging with last month’s results ahead 17% of those posted in November 2022 with $146.1 million. Golden Nugget Online Casino topped the iGaming food chain, driving $50.1 million of the total gross gaming revenue, followed by Resorts with $47.2 million and Borgata Online with $37.9 million.
The retail sector has not done so hotly, though, with mostly nominal gains, as casino revenue amounted to $214.9 million or a slight 0.2% increase in the results. Table games contracted by 6.5% last month, although slots made headway with a 3% jump for a total of $161 million.
Interestingly, iGaming has been able to co-exist with the land-based sector and has mostly appealed to a different type of audience, ensuring that there is a steady footfall at casino properties around Atlantic City.
Jane Bokunewicz, a frequent commentator, and analyst on gaming results in New Jersey, has even gone further to suggest that there is a very strong argument to be made for the lasting quality of in-person gaming which is not going to be supplanted by online casino performance, which is often cited as a fear factor for regulating online gambling in states where he land-based casino resort industry is loath to move forward with iGaming.
Smoking Ban and Gambling Results Continue to Pose a Challenge
Meanwhile, a vicious debate is raging in New Jersey with casino workers and activists demanding from Atlantic City’s resorts to finally fold an exemption of the state’s public smoking ban, which still allows 25% of casino floors to offer smoking.
Atlantic City launched iGaming in 2013, and ten years after the fact, the industry seems to be growing and setting up new records. Land-based casinos argue that their profits would plummet further if a smoke ban were enacted because they do not get all the winnings but share the proceeds from online games with third-party suppliers.
