New Jersey’s gambling revenue matched its all-time high of $5.2 billion in 2022, but only half that amount was won by casinos from in-person gamblers.
Figures released Tuesday by the New Jersey Division of Gaming Enforcement show the casinos, the horse tracks that take sports bets, and online partners of both types of gambling won $5.21 billion last year, up 10% from a year earlier and matching a level last seen in 2006. That was just before the advent of casino gambling in neighboring Pennsylvania sent New Jersey’s gambling industry into a downward spiral that eventually led to the closures of five of the 12 casinos that were operating at the time.
But the 2022 number was reached with a hefty assist from internet gambling and sports betting — revenue streams that help contribute to the bottom line but are also heavily shared with third parties such as sports books and tech platforms. Read more from AP News.