New Jersey’s online gambling industry achieved its best month on record in August, raking in $198.4 million, a nearly 28% increase from the previous year. However, amid the surge in digital gaming, traditional brick-and-mortar casinos in Atlantic City continued to underperform compared to pre-pandemic levels.
According to figures released by the New Jersey Division of Gaming Enforcement, six of Atlantic City’s nine casinos still earned less from in-person gambling than they did in August 2019. Casinos collectively won $294 million from in-person gamblers last month, up 4.9% from the previous year, but far from pre-COVID profitability.
Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, stressed the importance of internet gaming, noting that it has contributed significantly to Atlantic City’s total gross gaming revenue, reaching $190 million in four of the past eight months.
Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University
In total, when revenue from sports betting and internet gambling is factored in, New Jersey’s casinos, horse tracks, and their online partners reported earnings exceeding $555 million for August, representing a 4.4% increase year-on-year.
However, because casinos share online and sports betting revenue with third parties, their primary focus remains on in-person gambling.
Of the nine casinos, only three, which are Borgata, Hard Rock, and Ocean, posted higher earnings from in-person gambling than they did before the pandemic.
Borgata, Atlantic City
Borgata led with $74.2 million, while Hard Rock earned $55.3 million, and Ocean took in $44 million, all showing modest increases from last year. However, the other casinos continued to lag behind their pre-COVID performance.
Sports betting revenue saw a notable decline, generating $62.7 million in August — a drop of nearly 35%. Bokunewicz attributed this to an unusually high sports betting total in August 2023, which doubled that of the previous year.
Bally's Atlantic City Hotel and Casino
In terms of overall earnings, Borgata once again led the market with total winnings of $125.5 million, including both in-person and online gambling. Hard Rock placed second with nearly $72 million, while Golden Nugget followed with $69.7 million, boosted largely by its online operations
Original article: https://www.yogonet.com/international/noticias/2024/09/17/78994-new-jersey-39s-online-gambling-hits-record-highs-as-inperson-casino-revenue-struggles
