“To achieve the returns we have today took a substantial expansion and diversification of the New Jersey gaming product to compete with increased competition from neighboring states.” “To compare these returns, it is important to consider how much the market has changed in the past 16 years,” she said. Sarah Grady, assistant director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City gambling industry, said it took an enormous amount of work by the casinos and state government to replicate the levels of 2006, when gambling revenue consisted solely of what was won from in-person gamblers. 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.īut 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. 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.

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