As revenue from land-based gambling in New Jersey continues to struggle, online gambling winnings reach new highs. The New Jersey Division of Gaming Enforcement has reported the March 2024 figures for winnings from the state’s casino hotel properties, the internet gaming revenue, the sports wagering gross revenue, and the total gaming revenue.
Casinos and their partners reported a total of $197.2 million Internet Gaming Win for March 2024, denoting a growth of 19%, compared to $165.7 million reported in March 2023. A growth of 22% is recorded for the year-to-date period, from $461.2 million from the prior period to $562.8 million from the current one.
The March 2024 sports wagering gross revenue reported by casinos, racetracks, and their partners, reflected a decrease of 3.6% compared to March 2023. It fell from $93 million for March 2023 to $89.7 million for the same month of the current year. The year-to-date filings point to an increase, from $220 million to $328 million.
The Total Gaming Revenue, including Casino Win, Internet Gaming Win, and Sports Wagering Gross Revenue, reported in March 2024 stood at $526.6 million, or an 8.1% increase compared to March 2023. The year-to-date filings totaled $1.55 billion, or a growth of 15.7% compared to the prior period.
Atlantic City Casinos Consider Their In-Person Winnings As Most Important
Winnings from in-person wagers are generally considered the most important by Atlantic City casino operators as they get to keep them all, as opposed to internet gaming or sports betting profits that must be shared with third parties.
Atlantic City’s nine casino hotel properties reported total winnings of $239.8 million for March 2024, representing a growth of 4.9% compared to $228.6 million for the same month of 2023. As for the year-to-date filings for the previous and current years, the increase is less substantial, from $655.3 million to $656.1 million, or just 0.1%.
For March 2024, Borgata Hotel Casino & Spa took the lead, with a total casino win of $56.5 million from authorized gaming units. These figures, however, represented an 8.1% decrease from a year earlier. Hard Rock Atlantic City ranked second, with $44.3 million, up 11% from March 2023.
While Ocean Casino Resort AC ranked third in terms of March 2024 casino winnings with $40.6 million, the operator scored a substantial growth of 17.6% from a year earlier. Harrah’s Atlantic City monthly gross revenue report showed $21 million, just 2% up compared to the same period of 2023. Tropicana Casino & Resort reported $19.8 million, Caesars Atlantic City – $18.5 million, Golden Nugget – $ 13.6 million, and Resorts Casino Hotel – $13.4 million. Bally’s Total Casino winnings were the least of all nine casinos, with $11.7 million for March 2024.
