New Jersey Online Casino/Sportsbook Revenue up 26%!

Through the first 5 months of 2022, New Jersey’s in-person casinos, horse tracks that offer sports betting, and online casinos/sportsbooks generated $430.6 million in gross gaming revenue. 

For the first time since May of 2019, revenue won from in-person gamblers fell just short of its total pre-covid. This is an important note for Atlantic City’s brick-and-mortar casino industry considers this an important step since it has had such a hard time recovering from Covid.

Director of the Lloyd Levenson Institute at Stockton University, Jane Bokunewicz, said: “Brick-and-mortar gross gaming revenue totals for the month, expected to improve over last month’s $235.3m, were effectively flat at $233m, down less than 1%.”

The Chairman of the New Jersey Casino Control Commission, James Plousis, made remarks on how the total in terms of revenue from internet and sports betting was the highest for the month of May in over 10 years. “The volume of activity in Atlantic City’s casino hotels has been robust and coupled with a maturing online gaming business, can be a powerful combination.”

The leading in-person casino was not surprisingly the Borgata. It reported earnings of $63.3 million, which is up 30% from the prior year. The Hard Rock Casino (41.5 million), Oceans Casino (25.3 million), and Tropicana Casino(21.6 million) all came in behind Borgata, but all increased their revenue compared to May 2021.  However,  Harrah’s Casino ($21.2 million),Caesars Casino ($20.2 million), Resorts Casino ($14.1 million) and the Golden Nugget Casino ($12.7 million) all went down a significant percentage in 2022.

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