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A Tale of Two Verticals

At this juncture, the New Jersey gaming market represents an interesting case study with regard to the future of gaming, given that it is heavily involved in both land-based and online casinos. The debate as to how and if those two verticals can coexist peacefully is still ongoing, but analysts at Deutsche Bank (DB) have asserted that the state’s iGaming revenue will soon overtake its brick-and-mortar counterparts.

A chart showcasing the two verticals’ month-by-month revenue totals over the last year was reported by Earnings + More, and it shows that the gap has been decreasing steadily since last spring. In April, May and June of 2023, the land-based sector outperformed iGaming by $73 million, $66 million and $93 million, respectively. But in January, February and March of 2024, those leads had been cut to $22 million, $20 million and $43 million.

Overall, DB is projecting that the gross gaming revenue for New Jersey iGaming will surpass $2 billion in 2024, following 2023’s mark of $1.92 billion. These totals become even more impressive when considering that the market was just $299 million in 2018.

NJ iCasino vs. Brick and Mortar gaming

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