New Jersey's Internet Gambling Soars to New Heights, Even as Physical Casinos Face Challenges

New Jersey's Internet Gambling Soars to New Heights, Even as Physical Casinos Face Challenges

New Jersey's internet gambling revenues hit a new high in March, reaching $197 million, setting a record in the state's flourishing online gambling market.

Despite this digital success, Atlantic City's brick-and-mortar casinos continue to face challenges in surpassing their pre-pandemic performance levels, reflecting a stark contrast in consumer preferences within the gambling sector.

Record-Breaking Online Gambling Revenue

New Jersey's internet gambling market continues to reach unprecedented levels, setting a new record with $197 million in online casino games revenue in March. Despite the surge in digital gambling, Atlantic City's physical casinos are still grappling with the aftereffects of the COVID-19 pandemic, struggling to surpass their pre-pandemic performance.

Total Gambling Revenue on the Rise

The latest figures from the New Jersey Division of Gaming Enforcement indicate a significant shift in gambling habits, with a total gaming revenue of over $526 million for March, marking an 8.1% increase from the same month last year. This includes all forms of betting—internet, sports, and in-person casino games.

Boost from Sports Betting

Sports betting, boosted by the March Madness basketball tournament, also showed robust activity, with nearly $1.33 billion in bets placed, the fourth-highest monthly total since its legalization in 2018.

Challenges in In-Person Casino Winnings

Despite the overall upswing, the amount won from gamblers physically present in casinos paints a different picture. While collectively, the nine Atlantic City casinos did manage to slightly exceed their March 2019 earnings, individual performance varied. Only two casinos reported higher in-person winnings last month compared to their pre-COVID earnings.

Individual Casino Performance

Among the casinos, Borgata and Hard Rock showed notable figures. Borgata, despite a 6.1% decline in overall winnings from the previous year, still led in-person gains with $56.5 million. Hard Rock followed with an 11% increase in in-person winnings, totaling $44.3 million.

Looking Forward

The shifting dynamics in Atlantic City's gambling scene highlight a growing reliance on digital platforms, which, while lucrative, pose challenges for casinos that thrive on physical visitor experiences. As New Jersey continues to adapt to these changes, the future of its gambling industry remains a closely watched spectacle, balancing between the burgeoning digital frontier and traditional casino allure.