The gaming industry in New Jersey continues to soar, showcasing impressive growth and solidifying Atlantic City’s status as a premier destination for leisure and entertainment. According to the latest report from the New Jersey Division of Gaming Enforcement, the state’s casinos, horse tracks with sports betting, and online operations achieved a remarkable revenue of $480.7 million in July. This figure represents a significant 6.7% increase compared to July 2021’s revenue of $450.6 million.
Casino Performance:
The nine Atlantic City casino hotel properties contributed greatly to this surge, as their collective casino win reached an astounding $299 million in July. This figure reflects an impressive 8% growth compared to July 2021’s revenue of $276.9 million. Year-to-date, the total casino win stands at $1.61 billion, showcasing a substantial 16% increase from the same period last year, which amounted to $1.39 billion.
James Plousis, chairman of the New Jersey Casino Control Commission, emphasized the strength of Atlantic City as a gaming and leisure destination, with July’s casino win reaching its highest level in a decade. He further highlighted the exceptional performance of every casino hotel, surpassing their casino win, internet gaming win, and total gaming revenue from the previous year.
Internet Gaming and Sports Wagering:
Internet gaming win reported by casinos and their online partners surged to $136.7 million in July, marking an impressive 15.2% increase. The year-to-date total for internet gaming win stands at $951.2 million, showing a substantial 26.3% growth compared to the previous year’s figure of $752.9 million.
Sports wagering gross revenue reported by casinos, racetracks, and their partners amounted to $45 million, showcasing an 18.2% increase compared to July 2021’s revenue of $55 million. However, the year-to-date revenue of $353.2 million represents a decline of 16.6% when compared to the prior period’s figure of $423.3 million.
Property Performance:
Among the properties, Borgata achieved remarkable success, securing $124 million from in-person gamblers, sports bettors, and internet gambling in July. This figure reflects a notable year-on-year growth of 16.4%. Hard Rock followed suit with an impressive win of $59.8 million, representing a nearly 8% increase. Golden Nugget maintained its steady performance with a win of $49.1 million, while Ocean experienced significant growth, reaching $43.3 million, a notable increase of 29.5% from the previous year.
Tropicana experienced a slight decline of 2.5%, winning $35.8 million. Harrah’s faced a similar trend, securing $26.3 million but experiencing a 10% decrease. Caesars Atlantic City reported a win of $25.5 million, down 3.2% from the previous year. Bally’s Atlantic City showcased impressive growth, reaching $20.7 million, a substantial increase of 28.4%. Resorts Casino Hotel faced a slight decline, securing $18.3 million, down nearly 3%. However, Resorts Digital, the company’s online arm, achieved a significant win of nearly $39 million, showcasing a remarkable increase of 15% from the previous year.
With total gaming revenue for the year reaching $2.91 billion, up 13.7% from the same point last year, the New Jersey gaming industry demonstrates its robust growth and resilience. Mark Giannantonio, the newly appointed president of the Casino Association of New Jersey, assumes this role after a successful tenure as president and CEO of Resorts Casino Hotel in Atlantic City. With his extensive experience and commitment to advancing Atlantic City, Giannantonio aims to elevate the city’s status as a leading entertainment hub and a premier destination resort.
The consistent revenue growth of New Jersey’s gaming industry, driven by the success of both in-person and online operations, reinforces the state’s position as a thriving gaming and leisure destination. With such promising results, the future of the industry in New Jersey looks exceptionally bright.