The New Jersey Division of Gaming Enforcement has released its latest monthly revenue report revealing that combined gambling revenues for the month of August came to $470.7 million.
The latest figures represent a jump of 10.1% on the $427.7 million reported in August of 2021. This brings the year-to-date total to $3.38 billion, an increase of 13.2% on the $2.99 billion reported for the same period in 2021.
Land-based casinos reported revenues of $274 million for the month, an increase of 4.4% year-on-year. However, this was still significantly less than the 2019 pre-pandemic figure of $286 million in August 2019.
Speaking of the improved year-on-year results, James Plousis, chairman of the New Jersey Casino Control Commission said:
“It has been a great summer for Atlantic City and the region. The recent efforts to create impressive in-person experiences will continue to provide positive momentum going into the fall.”
According to the department’s official statistics, Atlantic City casino winnings increased by more than 6% compared to the same three-month period in 2021 while overall gambling revenue was more than $1.2 billion.
For the month of August, five of the city’s nine casinos reported increases in casino win year-on-year.
- Borgata – $120.7 million – up over 29%
- Hard Rock – nearly $54 million – up 2.8%
- Ocean Casino Resort – nearly $40 million – up almost 14%
- Bally’s – just over $20 million – up almost 30%
- Resorts – $18.7 million – up 0.2%
The Four casinos that reported revenue are:
- Golden Nugget – $44.5 million – down 2.7%
- Tropicana – $35.1 million – down 7.8%
- Harrah’s – just over $25 million – down 10.4%
- Caesars – just over $22 million – down nearly 13%
The Borgata reported its second highest monthly win since legal gambling launched in Atlantic City in 1978.
Online casino games saw operators report $131.4 million in revenues, a jump of 16% year-on-year. On Wednesday of last week, legislators indicated that New Jersey would extend legal online gambling for another 10 year period until 2033.
Sports betting
New Jersey sports betting revenue increased by 25.5% as sportsbooks reported $65.3 million in revenue from $546.7 million in wagers. Of that figure $509.1 million came through mobile sportsbooks.
Meadowlands and its online partner FanDuel continues to lead the sports betting market with $33.1 million in revenue. Its nearest competitor, Resorts Digital and its partners DraftKings and Flutter’s Fox Bet generated $12.7 million in revenue while usual second-placed operator Borgata ranked third with $6.9 million in revenue.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.