New Jersey online casinos are obviously on a winning streak, as data from the New Jersey Division of Gaming Enforcement shows that the revenue from these casinos topped $186 million in the last month alone. This means that June is the 4th month where NJ continues its upward trend, which bodes well for both online casino operators and the Garden State's regulators.

True to expectations, the online casino industry in New Jersey continues to flourish, with June 2024 marking a significant milestone. According to data from the New Jersey Division of Gaming Enforcement, the online casinos in the Garden State produced a remarkable $186.8 million in revenue for the month of June. This achievement makes June 2024 the fourth-highest month in New Jersey's online gambling history, which began in 2013.

The upward trend: what's next for New Jersey online casinos?

As we reach the halfway point of 2024, New Jersey’s casinos online have already amassed over $1 billion in revenue, totaling a whopping $1.13 billion. This figure definitely shows a robust year-over-year growth, with June 2024 alone showing 25.2% greater growth compared to the same month in 2023. If the current trend continues, the state is on track for a 21% annual growth, surpassing the $1.9 billion it generated in 2023.

Tax revenues on the rise as well

The impressive revenue figures have also obviously translated into substantial tax contributions in NJ. In June, online casinos paid $28 million in taxes, bringing the year-to-date total to almost $170 million. For better context: the state collected $288.5 million in taxes from online casinos throughout 2023. As of now, we’re only halfway through 2024, and New Jersey has already achieved 41% of that amount.

The record-breaking trend seen in June follows the state's best month ever, which was recorded in March of 2024. Additionally, May of 2024 holds the second-highest record. In fact, over the past nine months, New Jersey's online casinos have set monthly records of revenues a total of five times, which also includes the third-highest month in April of 2024, which saw $187.9 million in revenue.

A detailed breakdown of individual casino performances in June 2024 reveals the following figures

The top-grossing casino in NJ is still DraftKings, which earned an impressive $41,033,491 last June alone. This was then followed by FanDuel, which amassed a total of $35,975,523. At third place was BetMGM, which had a June revenue of $22,314,799. The 4th spot was taken by none other than Borgata, which received a revenue of $17,853,987, and in 5th place was Caesars Palace with its overall revenue in June at $11,344,088. In 6th to 9th place, we have Hard Rock Bet with $9,593,197, Golden Nugget with $7,792,420, BetRivers with a revenue of $6,944,975, Bally at $5,839,019, and ESPN Bet with a $3,265,337 revenue.

Rounding up the list was Tropicana ($2,754,532), Ocean ($2,023,053), PlayStar ($1,920,338), Fanatics ($1,844,790), Resorts ($1,836,820), Virgin ($1,531,955), PartyPoker ($1,482,998), Jackpocket ($1,407,228), WSOP ($1,403,987), PokerStars ($1,377,285), bet365 ($1,117,169), Parx ($1,268,654), Mohegan Sun ($1,080,729), Tipico ($1,002,239), Harrah’s ($814,393), Pala/Stardust ($648,018), Wheel of Fortune ($584,550), Betway ($396,223), Jackpot City ($393,831), and 888 at $1,424.

DraftKings, along with FanDuel, continue to dominate the market, collectively accounting for over 41% of the total revenue last June 2024.

This consistent growth in online gambling revenue in NJ emphasizes the industry's resilience and potential for further expansion. As New Jersey's online casinos continue to break records and contribute significantly to the state's tax revenues, the future looks promising for the sector indeed. This ongoing success also points to a strong consumer interest and a competitive market that continues to drive innovation and enhance the overall gambling experience for players in the Garden State.