New Jersey gambling revenue from sports betting have gone up by 43.6%.
James Plousis, chairman of the New Jersey Casino Control Commission, said that even though April’s casino revenue was down this year, it remains the second-strongest April in 11 years.
The latest monthly revenue report from the New Jersey Division of Gaming Enforcement has disclosed that combined gambling revenues for April came to $462.7 million.
The latest figures depict an increase of 9.5% on the $422.5 million reported in April of 2022 and a drop of almost 5% on the $487 million reported in March 2023.
Jane Bokunewicz, faculty director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City gambling market, said the casinos did comparatively well over the year’s first four months.
“In the first four months of 2023, traditionally some of the slowest of the entire year, Atlantic City’s casino operators generated nearly half of the total gross gaming revenue generated in the whole of 2019,” she said.
Casino Win
Land-based casinos in NJ conveyed revenues of $231.5 million, a slight 1.2% increase on the $228.6 million documented in May and a 1.6% increase in the same reporting period in the year 2022.
For April, only two of the city’s nine casinos declared increases in casino win year-on-year.
- Golden Nugget – $13.1 million – up 6.6%
- Ocean Casino – $34.2 million – up 30.3%
The seven casinos that reported a decline in incomes are:
- Bally’s – $13.7 million – down 4.3%
- Borgata – $58.1 million – down 5.7%.
- Caesars – $19.6 million – down 2.7%
- Resorts – $12.4 million – down 13.1%
- Hard Rock – $38.8 million – down 4.4%
- Harrah’s – $21.8 million – down 5.7%
- Tropicana – $19.5 million – down 13%
It brings the year-to-date total to $886.7 million, an increase of 4.6% likened to the $847.9 million reported in the first four months of 2022.
Internet Gaming
April saw the top online gambling operators in New Jersey as per NJ.bet report $158.9 million in gains, up 16.1% year-on-year. It also dropped 4.1% on the $165.7 million reported during March. It brings the year-to-date total to $620.1 million, an increase of 13.7% compared to the same period in 2022.
Sports Betting
New Jersey gambling revenue from sports betting operators reported accepting $833.9 million in wagers during April. It marked a drop of 18.3% when likened to the previous month. Of that figure, $798.5 million came through mobile sportsbooks, while retail sportsbooks took in $35.4 million in wagers. It brings the year-to-date total sports betting handle to $3.7 billion. Earnings for the month came to $72.3 million marking a 43.6% increase year-on-year.