New Jersey gaming industry reports record November revenue

The New Jersey Division of Gaming Enforcement (DGE) released November 2024 results for nine Atlantic City casinos, reporting record revenue growth after two months of decline.

Atlantic City casinos reported a November GGR of $223.9 million, a 4% increase over last year.

The month was positive for five of the nine properties that reported revenue growth compared to November 2023:

• The best performer was the Borgata, which had revenue up 11% to $57.5 million
• The Hard Rock Atlantic City came in second, up 7% to $44.3 million
• Next on the list was the Ocean Casino, with revenue of $34 million in November, up 8% from the previous year
• The other two properties that reported positive GGR were the Resorts Casino Hotel and the Golden Nugget, which grew 12% and 7% to $14 million and $11.7 million, respectively.

The other four New Jersey properties, Bally’s, Caesars, Harrah’s, and Tropicana, reported losses.

DGE Director James Plousis said this was “the best November in 11 years.”

Online casinos and sportsbooks also reported revenue growth. Slot and table games revenue reached $214 million, up 25% from last year, marking the fourth consecutive quarter of growth.
Sports betting reported $1.22 billion in November 2024. Operator revenue reached $119 million, up 24% from last year.

Curiously, two other states (Pennsylvania and Michigan) also saw more than 20% growth in the online industry compared to November of last year.

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