New Jersey casinos that offer sports betting and online gambling sites have won nearly $485 million from tpatrons, This a 7% increase from the prior year.
Nine casinos increased their winnings when compared to their in-person gambling from September 2019, before the pandemic began. They won nearly $252 million, up 1.3% compared with three years prior.
Most of these profits come from two big casinos, Hard Rock and Ocean. The other 7 casinos are still consistent with the in-person revenue they were receiving before the pandemic.
The amount of in-person wins is an important metric for Atlantic City casinos, and is one of their biggest concerns while trying to recover from the major decline in in-person gamblers caused by the pandemic.
“September’s mild weather helped contribute to a strong start to the fall season for Atlantic City’s casino operators,” said Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University,who studies the Atlantic City gambling market. “At this rate, Atlantic City’s casino operators are likely to meet and potentially exceed pre-pandemic end-of-year totals for both brick-and-mortar and total gaming revenue.”
From January to September of this year compared to September of 2019, Bally’s was down 10.3%; Borgata was down 1.2%; Caesars was down 9.3%; Golden Nugget was down 25.2%; Harrah’s was down 17.2%; Resorts was down 5.9% and Tropicana was down 16.8%, according to the Casino Association of New Jersey.
During the same time period, Ocean was up 68.3% and Hard Rock was up 51.8%.
All the casinos and the three horse racing tracks that offered sport bets took nearly $867 million worth of sports bets in September, keeping nearly $98 million as profit after paying off winning bets and other expenses. The sport betting revenue figure was up nearly 19% from the prior year. Internet gambling brought in over $135 million in September, an increase of over 10% from the prior year.