Atlantic City, NJ – April was a good month for the New Jersey gambling industry, as total revenue was recorded to hit over half a billion dollars, which equates to an increase of 10.4% from a year earlier.
According to a report from the New Jersey Division of Gaming Enforcement, April’s high revenue number of $511 million is attributed to casinos, tracks and their partners won from in-person gambling, internet betting and sports bets.
Online Casino Numbers Help NJ’s Figures
The $511 million revenue generated via operator winnings were up 10.4% from the $462.7 million claimed in April 2023. Interestingly, the double-digit gains in both internet casino gaming and sports betting are a big factor for such a profitable month.
The same report noted that internet casino gaming revenue was up 18.2% to $187.9 million, the second-highest total in state history behind the $197.2 million reported in March. Operator winnings from the first four months of 2024 totalled to $750.7 million, which is up 21.1% from the same period in 2023. Meanwhile, online poker rake totaled $2.3 million, down 0.5% year-over-year.
Conversely, revenue from brick-and-mortar casinos slipped 6.3% to $216.8 million, with the declines from table games and slot revenue being nearly equal in terms of percentage. Six of the nine casinos won less from in-person gamblers in April than they did a year earlier, while six of nine casinos also won less in-person money this April than they did in April 2019, before the COVID-19 pandemic hit.
New Jersey is widely known as one of the US states that have legalized online casinos. The current numbers between physical and online casinos are indicative that in terms of revenue, allowing online casinos to operate within their jurisdiction is a good decision.
Physical Casinos’ Numbers Mostly Down
In terms of in-person revenue, the following casino establishments posted the following numbers:
Borgata won $58.3 million, up half a percent from a year earlier
Hard Rock won $41.1 million, up 6%;
Ocean won $28.8 million, down 15.6% in a month during which part or all of its casino floor was shut down for four days due to a computer system change;
Tropicana won $17.7 million, down 9.2%;
Harrah’s won $16.4 million, down nearly 25%;
Caesars won $16 million, down 18.4%;
Bally’s won $13.1 million, down 4.9%;
Golden Nugget won $12.7 million, down 3.1%
Resorts won $12.4 million, which was flat a year ago.
Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City gambling market, noted that while in-person casino winnings are likely to improve in the coming summer months as tourism and visitor numbers fluctuate, Atlantic City may see more of its revenue growth come from non-gambling areas such as food and beverage sales.
“It will be many months before a clear picture of this trend is available, but operators’ recent investments in improving resort offerings suggest that a significant shift in the market’s overall revenue mix could be coming,” Bokunewicz added. “A focus beyond gaming, to the elements that make Atlantic City unique and a stronger competitor against the threat of New York City casinos, is simply good business.”
The slight downturn in the numbers for physical casinos in Atlantic City adds to the industry’s recent issues pertaining to an ongoing smoking ban lawsuit from casino workers and concerned citizens.
