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Gaming

New Jersey casino, sports-betting revenue was up 10.4% in February

Friday 17 de March 2023 / 12:00

2 minutos de lectura

(Atlantic City).- New Jersey’s casinos, horse tracks that take sports bets and the online partners of both types of gambling saw their revenue increase by 10.4% in February.

New Jersey casino, sports-betting revenue was up 10.4% in February

But what the industry considers to be its core business — money won from in-person gamblers — was up only slightly for the month, and only three of the nine casinos won more than they did in February 2019, before the coronavirus pandemic hit.

Figures released Thursday by the New Jersey Division of Gaming Enforcement show the casinos and tracks won over $412 million in February, up 10.4% from a year earlier.

But that figure can be misleading because it includes online winnings, which must be shared with third parties like sports books and tech platforms, and is not solely for the casinos and tracks to keep. Up to 70% of online winnings are shared with these outside parties, casino executives say.

From on-site gambling, casinos won nearly $215 million, up 1.2% from a year earlier. Just three casinos — Borgata, Hard Rock and Ocean — won more from in-person gamblers last month than they did in February 2019.

“Locally, the addition of two new casino resorts to the established seven has disrupted market share,” said Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City gambling industry. “The local market pie has grown, but the way that pie is cut has changed, shifting in favor of the newest entrants to the market.”

Internet gambling brought in $142.5 million, up nearly 10% from a year earlier.

February sports best including the Super Bowl totaled $847.4 million, with $54.6 million left after paying off winning bets and other expenses.

Bally’s in-person revenue was $12.2 million, up 14.3% from a year earlier; Borgata won $57.4 million, up 8.8%; Caesars won just over $19 million, up 1.4%; Golden Nugget won $11.1 million, down nearly 14%; Hard Rock won $37.5 million, up less than 1%; Harrah’s won $21.3 million, up 8.1%; Ocean won $26.2 million, down 11.5%; Resorts won $12.6 million, down 2%; and Tropicana won $17.2 million, down just under 1%.

When internet and sports betting money is included, Bally’s won $18.1 million, up 49%; Borgata won $101.2 million, up 7.4%; Caesars won $19.2 million, up less than 1%; Golden Nugget won $47.8 million, virtually identical to a year earlier; Hard Rock won $44.4 million, down less than 1%; Harrah’s won nearly $21 million, up 7.4%; Ocean won $30.1 million down 2.2%; Resorts won $12.6%, down 5.4%, and Tropicana won $26.2 million, up half a percent.

Among internet-only entities, Resorts Digital won $48.2 million, up more than 25%; and Caesars Interactive NJ won $8.3 million, down 17.5%.

Categoría:Gaming

Tags: Sports Betting, casino,

País: United States

Región: North America

Event

GAT EXPO CARTAGENA DE INDIAS 2024

09 de April 2024

Connections, agreements and surprises for R. Franco Digital at the 25th edition of GAT EXPO

(Cartagena de Indias, Exclusive SoloAzar) - Guillermo Ruipérez, head of sales at R. Franco Digital, in an exclusive conversation with SoloAzar, emphasised the special focus on organisation and networking during the 25th edition of GAT EXPO. He highlighted the wide range of the integral products and services offered by the firm, as well as the international character of the event that consolidates it as an essential regional meeting point.

Thursday 25 Apr 2024 / 12:00

Win Systems conquers GAT Expo Cartagena 2024 with innovations for Latin American market

(Cartagena de Indias, SoloAzar Exclusive).- Win Systems captivated attendees at the 25th edition of GAT Expo with a line of cutting-edge gaming solutions tailored specifically for the Latin American market. Manuel Wladdimiro, Sales Director for Central America and the Caribbean at Win Systems, offered valuable insights into the main products on display, and reflected on the remarkable growth of the show and its importance in the region, among other topics.

Thursday 25 Apr 2024 / 12:00

Prometeo IT Solutions sets trends with its integrated solutions for the iGaming industry

(Cartagena de Indias, SoloAzar Exclusive).- Prometeo IT Solutions, a Mexican company, consolidated its position as one of the protagonists of GAT Expo Cartagena 2024, captivating attendees with its wide range of integrated and management systems for the gaming market, both for online and land-based casinos. SoloAzar interviewed Guillermo Rojas, commercial director of the firm, who stressed the highlights of its exhibition and shared valuable reflections on the dynamic Colombian market, among other topics of interest.

Wednesday 24 Apr 2024 / 12:00

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