New Jersey gaming revenue down slightly in Q2
The New Jersey Division of Gaming Enforcement has announced second-quarter figures.
US.- The New Jersey Division of Gaming Enforcement has reported that casino licensees’ second quarter 2023 net revenue reached $819m, a 1.2 per cent decrease over the same quarter last year. Atlantic City casinos posted gross operating profit of nearly $146m, down 20.5 per cent from the same period a year ago, and less than the $159m posted in the second quarter of 2019.
Hard Rock posted the largest operating profit at $30.4m, down 20 per cent. Tropicana posted $25m, down 18 per cent, Ocean casino $24m, up 54 per cent, Harrah’s $18m, down 15.5 per cent, Caesars $15.3m, up 8.3 per cent, and Borgata $12.3m, down nearly 71 per cent.
Golden Nugget had a $7.6m profit, down nearly 16 per cent, although it stopped reporting its internet gambling results separately during the second quarter of last year. Resorts reported $3.4m profit, down over 44 per cent, and Resorts Digital, its online arm, $1.1m, down 35 per cent. Bally’s reported $1.8m profit, up from a $3.7m loss in the same period last year. Caesars Interactive Entertainment NJ reported $6.7m profit, up 14 per cent.
The hotel occupancy rate for the quarter ended June 30 was 74.4 per cent, which is a decrease of 3 percentage points compared to Q2 2022. The occupancy rate for first six months of 2023, was 69.8 per cent, a decrease of 0.6 percentage points.
For the first six months, net revenue reached $1.6bn, increasing 1.5 per cent from the same period last year. Gross operating profit reached $281.4m, a decrease of 17.9 per cent.
