New Jersey gaming revenue rose by 12 per cent in February 2024 to $461.5million. Internet gaming and sports betting reported a year-on-year increase in the month that included the Super Bowl.
In February 2023, the Garden State reported that their total gaming revenue was $412.2m. 12 months later, that figure has increased by $49.3m. More impressively, iGaming rose by 27.9 per cent to $182.3m from $142.6m across the same period.
Sports betting saw a sizeable increase in revenue as well. The sector saw a 23.7 per cent jump in revenue to $67.7m. An increase of $13.1m compared to last February.
Super Bowl LVIII Betting
Last month’s Super Bowl extravaganza saw an estimated $23.1b bet on the NFL championship decider across the entire United States. Around $141.6m of that total was spent in New Jersey alone.
Naturally, the Super Bowl is one of the most popular sports events for keen bettors not just in the U.S. – but globally as well. With that in mind, what made Super Bowl LVIII so popular this year?
Taylor Swift’s well publicised relationship with Kansas City Chiefs tight end Travis Kelce certainly helped an increase in betting revenue. In fact, there was a lot more emphasis on the wives and girlfriends of the stars who featured.
Also, it was back-to-back Super Bowl appearances for the Chiefs. Andy Reid’s side got the better of the San Francisco 49ers in an epic clash in Las Vegas. Patrick Mahomes rise into a NFL legend would have also helped the revenue increase.
Atlantic City Casinos
New Jersey’s land-based casinos were the only sector where revenue failed to increase compared to February 2023. A decrease of 1.6 per cent was reported to $211.5m.
All in all, February 2024 has been a hugely successful month for New Jersey. The slight decrease from Atlantic City’s casinos won’t be a huge cause for concern.
In the modern age, bettors do tend to prefer online casinos but the likes of Borgata, Caesars and the Tropicana continue to be hugely popular for local residents and tourists.
However, a wet and windy month does tend to keep bettors away from brick-and-mortar casinos. During the summer months, Atlantic City will likely see a sharp increase in revenue.
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