New Jersey’s total gambling revenue increased by 9.5% year-on-year in April, hitting $462.7 million. This figure includes casinos, racetracks that accept sports bets and their online partners. There was, however, a dip in revenue from in-person gambling, as the winnings from on-premises physical casinos fell by 1.6% to $231.4 million.
Given revenue from iGaming and sports betting operations must be shared with partners, Atlantic City casinos view money won from in-person gamblers as a key indicator of the health of the industry.
According to James Plousis, chairman of the New Jersey Casino Control Commission, even though April’s casino revenue was down this year, it was still the second-strongest April in 11 years.
Meanwhile, revenue brought in from internet gambling reached nearly $159 million, up more than 16% from the previous year, while revenue from sports betting reached $72.3 million, which went up to 43.6% from a year ago. Nearly $834 million was wagered on sports in New Jersey in April, of which $798.5 million was wagered online and $35.5 million at retail sportsbooks.
Speaking to the news agency AP, Plousis said: “Growth in internet gaming win and sports wagering revenue pushed Atlantic City’s total gaming revenue above $400 million for the second consecutive month, which is a positive more typically seen during summer. As I regularly visit the casino hotels, I hear a lot of optimism that this will be a great summer in Atlantic City.”
Jane Bokunewicz, faculty director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City gambling market, said the casinos did comparatively well over the first four months of the year.
She said: “In the first four months of 2023, traditionally some of the slowest of the entire year, Atlantic City’s casino operators generated nearly half of the total gross gaming revenue generated in the whole of 2019.”
As per Bokunewicz, the momentum in overall gross gaming revenue earnings this summer season could help the sector overcome rising operating costs caused by an ongoing labor shortage and large rises for workers from last summer’s union contract talks.
Borgata remains the market leader
As for retail gambling per casino, only Borgata, Hard Rock and Ocean won more from on-premises gamblers in April than they did in the same month in 2019. Borgata remained the market leader, winning $58.1 million, although still down on a year-on-year basis by 5.7%. Hard Rock placed second at $38.8 million, while still down 4.4% against 2022; and the Ocean casino took third place at $34.2 million, up over 30% from a year ago.
Harrah’s was the next in line at $21.8 million, down 5.7%, followed by Caesars at $19.6 million (down 2.7%) and Tropicana at $19.5 million (down 13%). These were followed by Bally’s at $13.8 million (down 4.3%), Golden Nugget at $13.1 million (up 6.6%) and Resorts, which won $12.4 million (down over 13%).
When money from internet gambling and sports betting is included, Borgata won $107.8 million, up 1.7%; Golden Nugget won nearly $54.8 million, up 9.1%; Hard Rock won $46.5 million, down 4.2%; Ocean won $39.1, up over 40%; Tropicana won $27.2 million, down 18.4%; Bally’s won $20.5 million, up 18%; Caesars won $19.9 million, down 1.6%; and Resorts won $12.3 million, down 12.6%.
Original article: https://www.yogonet.com/international/news/2023/05/18/67199-new-jersey-sees-total-gambling-revenue-up-95-in-april-but-inperson-win-drops-16-
