ATLANTIC CITY, N.J. (AP) — New Jersey’s casinos, racetracks that accept sports bets and their online partners won $462.7 million in April, an increase of 9.5% from a year earlier.
That figure includes winnings from internet and sports betting operations.
But the amount won on-premises by physical casinos fell by 1.6% to $231.4 million. Because revenue from online and sports betting operations must be shared with partners, the casinos view the amount of money won from on-premises gamblers as the leading indication of the health of the Atlantic City casino industry.
James Plousis, chairman of the New Jersey Casino Control Commission, said that even though April’s casino revenue was down this year, it was still the second-strongest April in 11 years.
“Growth in internet gaming win and sports wagering revenue pushed Atlantic City’s total gaming revenue above $400 million for the second consecutive month, which is a positive more typically seen during summer,” he said. “As I regularly visit the casino hotels, I hear a lot of optimism that this will be a great summer in Atlantic City.”
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 first four months of the year.
“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.
Heading into what could be a pivotal 2023 summer season, she said, the momentum in total gross gaming revenue earnings could help the industry surmount increased operating costs driven by an ongoing labor shortage and big raises for workers from last summer’s union contract talks.
In terms of money won from on-premises gamblers, Bally’s won nearly $13.8 million, down 4.3%; Borgata won $58.1 million, down 5.7%; Caesars won $19.6 million, down 2.7%; the Golden Nugget won $13.1 million, up 6.6%; Hard Rock won $38.8 million, down 4.4%; Harrah’s won $21.8 million, down 5.7%; the Ocean casino won $34.2 million, up over 30%; Resorts won $12.4 million, down over 13%; and Tropicana won $19.5 million, down 13%.
Only Borgata, Hard Rock and Ocean won more from on-premises gamblers in April than they did in April 2019.
When money from internet gambling and sports betting is included, Bally’s won $20.5 million, up 18%; Borgata won $107.8 million, up 1.7%; Caesars won $19.9 million, down 1.6%; Golden Nugget won nearly $54.8 million, up 9.1%; Hard Rock won $46.5 million, down 4.2%; Ocean won $39.1, up over 40%; Resorts won $12.3 million, down 12.6%; and Tropicana won $27.2 million, down 18.4%.
Among internet-only entities, Resorts Digital won $61.9 million, up more than 69%; and Caesars Interactive won $8.7 million, down 4%.
Internet gambling brought in nearly $159 million, up more than 16% from a year earlier, and sports betting brought in $72.3 million, up 43.6% from a year earlier. The Meadowlands Racetrack in East Rutherford, just outside New York City, brought in more than half of that sports betting total.
Nearly $834 million was wagered on sports in New Jersey in April.
Date Published: 17th May
Preview Image: Shutterstock
