The latest report from the New Jersey Division of Gaming Enforcement reveals an impressive 7.5% year-on-year increase in gaming revenue for the state in September, driven by a combination of casino earnings, horse track activities, and online operations. This robust performance reflects the state’s enduring appeal in the gaming industry.
Revenue Breakdown:
Casino Win Decline: The nine Atlantic City casino hotel properties reported a total casino win of $246.5 million in September. Although this figure represents a 2.1% decrease compared to the same period in the previous year, it remains a substantial contribution to the state’s gaming revenue.
Online Gaming on the Rise: The online gaming sector in New Jersey continued to thrive, posting a notable year-on-year increase of 21.1% in September. This segment contributed significantly to the state’s overall gaming revenue, totaling $163.8 million. The consistent growth in online gaming emphasizes its enduring popularity among players.
Sports Betting Success: The sports wagering sector also played a pivotal role in driving revenue growth, with gross revenue reaching $111.1 million. This marked a substantial 13.4% increase from the previous year. The enthusiasm for sports betting in New Jersey remains strong, contributing significantly to the state’s gaming industry.
Performance of Land-Based Casinos:
The report highlights the performance of several land-based casinos in New Jersey, including Bally’s, Borgata, Caesars, Golden Nugget, Hard Rock, Harrah’s, Ocean, Resorts, and Tropicana.
While some casinos reported slight decreases in their land-based win, others experienced growth, underscoring the diverse performance within the state’s gaming industry.
Year-to-Date Figures:
When considering the year-to-date gaming revenue, New Jersey has achieved remarkable results. The accumulated revenue stands at $4.29 billion, reflecting a substantial 10.8% increase compared to the same period in the previous year. This steady growth indicates the state’s enduring appeal and the continued success of its gaming industry.
Conclusion:
New Jersey’s gaming industry has showcased its resilience and potential, with a 7.5% year-on-year increase in gaming revenue for September. The online gaming and sports betting sectors have played pivotal roles in driving this growth, while land-based casinos continue to make significant contributions. With a robust year-to-date performance, the future of New Jersey’s gaming industry appears promising, offering opportunities for further expansion and development.