New Jersey gaming revenue tops $480 million for July

Atlantic City’s casinos in July won over half a billion dollars, which was up by 5.3% from a year earlier when the revenue was $480.7 million, according to figures released by the New Jersey Division of Gaming Enforcement. The revenue generated was from Internet and sports betting at casinos and three racetracks. The total gaming revenue reported by casinos, racetracks and their partners was $3.23 billion, reflecting an 11% increase from $2.91 billion reported in the prior period.

Internet gaming for July was reported by casinos and their partners at $155.2 million, reflecting growth of 13.5% compared with $136.7 million for the prior period. For the year-to-date period, internet gaming wins reported by casinos and their partners was $1.09, reflecting growth of 14.2% compared to $951.2 million for the prior year-to-date period. 

Atlantic City’s top-performing casino was Borgata Hotel Casino & Spa. It broke its record with over $127 million in casino, internet, and sports betting winnings. The amount of money won from in-person gamblers at the nine casinos declined by 3% compared year-on-year, to less than $290 million. 

Jane Bokunewicz, director of the Lloyd D. Levenson Institute of Gaming, Hospitality, and Tourism at Stockton University, which studies the Atlantic City gambling industry, told local media that the 3% dip is “not particularly worrisome.”

“As is the nature of the gaming industry, there are always fluctuations in the monthly revenues and this 3% decline does not appear to be part of a lasting trend,” she tols the Press of Atlantic City.

Borgata generated a $127 million total win in July, up nearly 3% from the previous year at the same time, when it recorded  $124 million. 

Borgata President Travis Lunn said the strong performance for Borgata this month for the developments brought to the hotel this year and positive customer response to the former Water Club hotel, which has been redone as the MGM Tower, a high-limit slots lounge and a new restaurant. 

The nine resorts and casinos in Atlantic City were Hard Rock, which won $62.7 million in July, up nearly 5%; Golden Nugget Atlantic City won nearly $54 million, up nearly 10%; Ocean won $42.4 million, down 2%; Tropicana Atlantic City won $32.3 million, down nearly 10%.

Harrah’s Resort Atlantic City won $25.2 million, down 4.2%; Caesars Atlantic City won $25.1 million, down 1.5%; Bally’s Atlantic City won $24.1 million, up more than 16%, and Resorts Casino Hotel won $15.3 million, down more than 16%. Resorts Digital, the casino’s online arm, won $59.5 million, up nearly 53%. The online-only Caesars Entertainment Interactive NJ won $8.5 million, down nearly 22%. 

The casinos and three horse tracks took $587 million in sports bets in July, keeping $61 million of that as revenue after paying off winning bets and other expenses.