New Jersey’s gambling regulator, the New Jersey Division of Gaming Enforcement (DGE), reported yesterday the nine casinos in the Garden State have collectively generated $118.6 million in online gambling revenue last month. This makes July the best month ever for New Jersey, which was one of the early adopters of online wagering. The Garden State’s previous record stood at $113.7 million and was reported by the regulator in March 2021.
The July results correspond to a 36% growth in revenue compared to the figures reported for the same month last year. At the time, local casinos had just started to reopen following a coronavirus shutdown that lasted three and a half months.
Jane Bokunewicz, Coordinator at the Lloyd D. Levenson Institute of Gaming, Hospitality, and Tourism (LIGHT) at Stockton University, believes the record results could indicate local gamblers have not lost their appetite for online casino gaming. They continue to show interest in playing online despite the fact they are now returning to in-person gaming.
When on-premise casino gaming and sports wagering revenue is added, the nine casinos and the three racing tracks in the Garden State boast more than $450 million in revenue for July. This makes for an increase exceeding 70% compared to the previous year.
Hard Rock Hotel & Casino Was Atlantic City’s Top Earner In July
According to Mr. James Plousis, who chairs the state Casino Control Commission (NJCCC), these results demonstrate the local gambling industry’s resilience. The positive momentum observed recently might inspire more confidence in the recovery of the local gambling and tourism sectors. The NJCCC Chairman noted this year’s overall gambling revenue for July is more than 28% greater than that reported for the same month in 2019.
Many industry experts refer to 2019 results as they consider them more accurate compared to those for 2020 when the industry took a heavy hit by the coronavirus pandemic. All nine landbased casinos in Atlantic City reported a rise in revenue in July, starting with Hard Rock which posted an increase of almost 79% to $55.5 million.
Golden Nugget and Borgata posted growth of 77% and 75% to $15.5 million and $106.6 million, respectively. Tropicana was next with $36.7 million for a 63% rise. Resorts’ revenue increased by 57% to reach $18.8 million, while Harrah saw a 38% growth to $29.3 million. The lowest earners in July were Ocean Casino and Bally with $33.4 million (27%) and $16.1 million (10%).
As for sports wagering, local casinos and sportsbooks reported a July handle of $578 million from wagers on sporting events. After paying out the winners and covering their other expenses, they collected nearly $55 million in total revenue. Baseball attracted the most betting action at New Jersey sportsbooks, with a handle exceeding $195 million in July.
