Casino

New Jersey: internet gambling reaches new record at $198M in revenue

Tuesday 17 de September 2024 / 12:00

⏱ 3 min read

(Atlantic City).- Internet gambling in New Jersey had its best month ever in August, bringing in over $198 million in revenue even as most of Atlantic City's land-based casinos continued to win less than they did before the COVID-19 pandemic.

New Jersey: internet gambling reaches new record at $198M in revenue

Figures released Monday by the New Jersey Division of Gaming Enforcement show that internet gambling brought in $198.4 million, the highest monthly total ever recorded in the state and an increase of nearly 28% from a year earlier. That was the good news for Atlantic City's gambling industry.

The bad news was that their core business — money won from in-person gamblers — continues to struggle. Six of the nine casinos won less from people physically in their premises than they did in August 2019, before the pandemic broke out.

The casinos won $294 million from gamblers on their physical premises in August, an increase of 4.9% from a year earlier.

When money from sports betting and internet gambling is included, the amount won by the casinos, the two horse tracks that accept sports bets and their online partners was over $555 million, an increase of 4.4% from a year ago.

Because internet and sports betting money must be shared with outside parties including sports books and tech platforms, the casinos consider in-person winnings to be their core business.

And for two-thirds of the casinos, that business still is not as good as it was before the COVID-19 outbreak. Only three casinos — Borgata, Hard Rock and Ocean — won more last month from in-person gamblers than they did in August 2019, before the pandemic.

Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City gambling market, said the numbers show how important internet gambling is becoming to the resort.

“This important vertical for the casino industry has topped $190 million in four of the last eight months in a trend that is seeing off-property gaming activity, which includes online sports betting, contribute nearly half of Atlantic City operators’ total gross gaming revenue,” she said.

Sports betting revenue of $62.7 million was down nearly 35% in August. But Bokunewicz said that is a statistical quirk due to the comparison with August 2023, in which sports betting revenue was exceptionally high, coming in at twice the total of August 2022.

In terms of money won from in-person gamblers, Borgata won $74.2 million in August, up 1.6%. Hard Rock won $55.3 million, up 9.2%; Ocean won $44 million, up 11.4%; Harrah's won $25.1 million, up 2.4%; Tropicana won $24.9 million, up just under 1%; Caesars won $24 million, up 9.2%; Resorts won $16.1 million, down nearly 9%; Bally's won $15.6 million, up 4.2%, and Golden Nugget won $14.6 million, up 11.2%.

When internet and sports betting money is included, Borgata won $125.5 million, up 6.4%; Hard Rock won nearly $72 million, up 21.5%; Golden Nugget won $69.7 million, up nearly 29%; Ocean won $49.1 million, up 10.1%; Tropicana won $46.5 million, up nearly 41%; Bally's won nearly $29 million, up 24.3%; Harrah's won $27.2 million, up 11%; Caesars won $24.1 million, up 9.3%; and Resorts won $16.2 million, down 8.3%.

Resorts Digital, the casino's online arm, won $69.2 million, down 30.2%.

Nearly $699 million worth of sports bets were made in New Jersey in August in a market that had become smaller.

On July 31, Freehold Raceway stopped taking sports bets, leaving the Meadowlands Racetrack in East Rutherford, and Monmouth Park in Oceanport as the state's only horse tracks that take sports bets. The track's parent company, Penn Entertainment, did not respond to a message seeking comment on why it ended sports betting at Freehold.

Categoría:Casino

Tags: Sin tags

País: United States

Región: North America

Event

GAT EXPO CARTAGENA 2026

24 de March 2026

José Aníbal Aguirre: "GAT Expo Cartagena is today a strategic meeting point for the industry"

(Cartagena de Indias, SoloAzar Exclusive).- In this one-on-one interview, José Aníbal Aguirre, CEO of GAT Events, makes an exhaustive balance after another edition of GAT Expo Cartagena 2026.

Tuesday 07 Apr 2026 / 12:00

Win Systems wraps up a successful presence at GAT Expo Cartagena 2026

(Barcelona).- Global technology provider for the gaming and entertainment industry, Win Systems, successfully concluded its participation at GAT Expo Cartagena 2026, one of the most important events in the Latin American sector. On March 25 and 26, the company turned its Stand A7 into a prominent meeting point for operators, clients, and industry professionals, showcasing its latest technological innovations and gaming solutions.

Monday 06 Apr 2026 / 12:00

GAT Expo Cartagena: The Right Product for Every Client is Novomatic’s main goal, according to Manuel Del Sol

(Cartagena, SoloAzar Exclusive).- NOVOMATIC Gaming Colombia highlighted its latest innovations and strategic vision during GAT Expo Cartagena 2026. In an exclusive interview, CEO Manuel Del Sol discussed the company’s regional expansion, product launches, and commitment to meeting the diverse needs of operators across Latin America.

Monday 06 Apr 2026 / 12:00

SUSCRIBIRSE

Para suscribirse a nuestro newsletter, complete sus datos

Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.