New Jersey gambling revenue up 10% year-on-year in August
New Jersey’s casinos, horse tracks and online operations have reported revenue of $470.6m.
US.- The New Jersey Division of Gaming Enforcement has reported on the state’s gaming revenue for August. The state’s casinos, horse tracks that offer sports betting and the online partners of both reported $470.6m, up 6.7 per cent compared to August 2021’s $427.7m.
The casino win for the nine Atlantic City casino hotel properties was $274m, up 4.4 per cent compared to $262.4m in August 2021. The year-to-date total casino win stands at $1.88bn, up 14.1 per cent compared to $1.65bn at the same point last year.
Internet gaming win reported by casinos and their partners was $131.4m, up 16.1 per cent. For the year-to-date, the total stands at $1.08bn, up 25 per cent from $866.1m in the prior-year period. Sports wagering gross revenue reported by casinos, racetracks and their partners was $65.3m, up 25.5 per cent from $52m in August 2021. Revenue was $418.9m for the year-to-date – a 11.9 per cent decline when compared to $475.3m for the prior period.
In terms of properties, Borgata won $120.7m in August, up 29 per cent year-on-year. Hard Rock won $54m, up 2.8 per cent; Ocean $43.3m, up 29.5 per cent; Bally’s $20m, up nearly 30 per cent; and Resorts $1.7m, up 0.2 per cent year-on-year.
Four casinos reported revenue declines. Tropicana won $35.1m, down 7.8 per cent; Harrah’s $25m, down 10.4 per cent; Caesars Atlantic City $22m, down 13 per cent; and Golden Nugget $44.4m, down 2.7 per cent year-on-year.
Gaming revenue for the year to date is $3.38bn, up 13.2 per cent from $2.99bn at the same point last year.
See also: Casino Association of New Jersey names Mark Giannantonio as president
Push for extending online gambling
New Jersey lawmakers are to begin looking at legislation to extend online gambling for a further 10 years. An Assembly committee is set to discuss a bill on the issue.
New Jersey legalised online gambling for ten years in 2013. New legislation would push the current expiration back from 2023 to 2033. The Assembly members will discuss advancing to the next step in the legislative process. That will require several rounds of approval before Governor Phil Murphy can sign off on the move.
Since 2013, online betting in the state has generated almost $5bn for casinos, without taking into account additional sports betting revenue. New Jersey’s casinos brought in nearly $1.4bn from internet gaming in 2021, a 41 per cent increase over the $970m reported in 2020.
