American Gaming Association
New Jersey Gaming Revenues Up in 2022
New Jersey gaming revenues have increased in 2022, thanks to the state’s growing casino industry.
According to a report from the American Gaming Association, gaming revenues in New Jersey are expected to reach $4.5 billion by the end of 2022, up from $3.9 billion in 2020. The growth of New Jersey’s gaming industry is being driven by the expansion of the New Jersey online gambling industry.
Let’s explore this further in our analysis below.
How has the pandemic affected gaming revenues in New Jersey?
So, how has the pandemic affected gaming revenues in New Jersey?
The pandemic has had a significant impact on gaming revenues in New Jersey. In 2020, gaming revenues in the state were down by nearly $1 billion compared to 2019. This is largely due to the closure of casinos and other gaming venues for several months during the pandemic. However, there has been some rebound in gaming revenues since casinos and other venues have reopened. 2022 brought in a boost, and 2023 won’t be bad at all. We’ll look at how the gaming revenue in New Jersey may go in 2023 toward the end of this article.
What types of gaming are bringing in the most revenue in New Jersey?
There are different types of gaming that bring in revenue in New Jersey. The ones bringing in the most revenue are casino gaming and online betting. Other types of gaming that also bring in significant amount of revenue include horse racing, lotteries, and online gaming.
The main reason casino gaming brings in the most revenue is that there are many casinos in the state. These casinos offer a variety of games and attractions that bring in tourists from all over the country. In addition, many of the casinos offer hotel accommodation, which further increase the amount of money they bring in.
What is the expected revenue for the gaming industry in New Jersey for 2023?
The projected revenue for the gaming industry in the year 2023 is highly dependent on a number of factors, namely the economy, tourism, and changes in legislation. However, according to a report by the American Gaming Association, the gaming industry in New Jersey is expected to generate $4.8 billion in revenue in 2023. Compared to this year (2022) and last year (2021), this would represent a significant increase. An increase in gaming revenue is typically good news for the state’s economy as a whole, as it indicates that more people are spending money on gaming and tourism.
American Gaming Association
AGA Unveils Have A Game Plan Initiative’s Fifth Pillar: “Keep Your Cool”
The American Gaming Association (AGA) announced the expansion of its “Have A Game Plan. Bet Responsibly.” public service campaign with the introduction of a fifth pillar: “Keep Your Cool”. This new pillar reinforces the campaign’s mission to promote responsible sports wagering by emphasizing athlete harassment is never appropriate.
The announcement comes as data highlights the growing effectiveness of responsible gaming programs across the country. According to recent research, 66% of Americans believe the gaming industry’s responsible gaming initiatives are effective, up from 59% in 2023. Among those who actively participate in gaming, 79% of physical casino players and 85% of sports bettors agree these programs are working, including an impressive 73% of young bettors aged 18-24.
“Responsible gaming efforts like Have A Game Plan and other proactive efforts by legal operators are resonating with consumers and making a difference. ‘Keep Your Cool’ builds on this momentum by reminding bettors that a betting result – good or bad – is not an invitation to criticize a team, official, or athlete,” said Bill Miller, President and CEO of the AGA.
Since its launch in 2019, “Have A Game Plan. Bet Responsibly.” has educated bettors through four foundational pillars:
• Set a Budget: Establish and stick to a financial limit.
• Keep It Social: Bet responsibly as part of a shared activity.
• Know the Odds: Know the terminology and understand risks before placing bets.
• Play Legally: Use regulated, legal betting platforms.
The new “Keep Your Cool” pillar complements these principles by promoting sportsmanship and emphasizing the social aspects of sports betting:
Respect the Game: Winning and losing are part of sports betting, nobody is perfect; the result of a bet should not prompt negative actions – in person or online – toward athletes and officials.
Stay Focused on Having Fun: Sports betting is entertainment.
NASCAR, an early supporter of Have A Game Plan, underscored the importance of the new pillar. “At NASCAR, we believe responsible gaming enhances the overall fan experience. ‘Keep Your Cool’ reflects our shared commitment to encouraging fans to bet responsibly and maintain a respectful approach to the sport they love,” said Steve Phelps, President of NASCAR.
With responsible gaming messaging resonating stronger than ever, Have A Game Plan. Bet Responsibly. continues to foster a more enjoyable betting environment for fans.
AGA
Commercial Gaming Revenue Growth Continues in Q3 2024, Driving Industry’s 15th Consecutive Quarter of Growth
U.S. commercial gaming revenue reached $17.71 billion in Q3 2024, the industry’s highest-grossing Q3 on record, according to the American Gaming Association’s (AGA) Commercial Gaming Revenue Tracker. This makes Q3 2024 the industry’s 15th consecutive quarter of annual revenue growth, with September marking the 43rd straight month of rising year-over-year commercial gaming revenue.
Through the first nine months of the year, nationwide commercial gaming revenue stands at $53.24 billion, pacing 8.0 percent ahead of 2023 and putting the industry on track for a fourth straight record revenue year.
In Q3 2024, 29 of the 35 commercial gaming jurisdictions operational last year saw increased year-over-year revenue. This growth resulted in an 8.9 percent year-over-year increase in state and local taxes tied directly to gaming revenue, with commercial gaming operators contributing $3.79 billion in taxes across the quarter.
Quarterly revenue from land-based gaming – encompassing casino slots, table games and retail sports betting – totaled $12.56 billion, 0.62 percent lower than Q3 2023. Meanwhile, combined revenue from online sports betting and iGaming totaled $5.14 billion in Q3 2024 as online gaming made up 29.0 percent of commercial gaming revenue, a significantly higher share than in Q3 2023.
Looking at each sector in Q3 2024:
- Traditional Gaming: Traditional brick-and-mortar casino gaming generated quarterly revenue of $12.38 billion, a contraction of 0.9 percent year-over-year.
- Legal Sports Betting: Americans legally wagered $30.3 billion on sports, generating $3.24 billion in quarterly revenue (+42.4% YoY). Recent market launches in Kentucky, Maine, North Carolina and Vermont contributed to this growth.
- iGaming: iGaming generated $2.08 billion in revenue, marking a 30.3 percent year-over-year increase.
“Q3 2024 continued gaming’s momentum from the first half of the year, with online casino and sports betting driving strong growth. At the same time, new brick-and-mortar casino openings bolstered traditional gaming, which still accounts for the bulk of industry revenue,” said AGA Vice President of Research David Forman. “More than a quarter of commercial revenue now regularly comes from online sources, raising the importance of continued sustainable growth with consumers in those states.”
American Gaming Association
AGA Statement on Introduction of SAFE Bet Act
American Gaming Association Senior Vice President of Government Relations Chris Cylke issued the following statement in response to Sen. Richard Blumenthal (D-CT) and Rep. Paul Tonko (NY-20) introducing the SAFE Bet act, which would implement a “nationwide prohibition” on sports betting:
“Today’s regulated sports wagering operators are contributing billions in state taxes across the U.S., protecting consumers from dangerous neighborhood bookies and illegal offshore websites, and working diligently with over 5,000 state and tribal regulators and other stakeholders to ensure a commitment to responsibility and positive play. Six years into legal sports betting, introducing heavy-handed federal prohibitions is a slap in the face to state legislatures and gaming regulators who have dedicated countless time and resources to developing thoughtful frameworks unique to their jurisdictions, and have continued to iterate as their marketplaces evolve.”
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