New Jersey Reveals April Results, With Revenue Going Up
The New Jersey Division of Gaming Enforcement has posted the latest financial results, revealing the industry in Atlantic City had an excellent April.
According to this report, nine casinos operating in Atlantic City generated combined gross gaming revenue of $265.4 million, which represents an increase of 23.8%. At the same time, takings from online gambling improved by 58.9% to $36.6 million.
The city’s casino win jumped to $207.6 million, which represents an 8.4% rise when compared to the same month of 2018. The report reveals that takings from sports betting reached $21.2 million.
April is the eleventh month in a row that the state’s casino market ends with growth, although only one venue – Borgata Hotel Casino and Spa – recorded an increase in the land-based win. This venue generated $53.3 million in revenue, which is a slight increase of 0.5%
Golden Nugget Atlantic City witnessed its land-based win fall by 23-4% to $15.4 million. However, its online gaming operations performed well, improving by 70.3% to $13.8 million. The digital arm of Resorts Casino Hotel saw its revenue jump by 96.7% to $7.1 million, while its land-based operations dropped by 25.7% to around $12.8 million.
The overall results were pretty much the same for Caesars Atlantic City and its digital arm – the Caesars Interactive NJ. And while the land-based decreased by 24% to $22 million, online improved by 30.5% to $4.5 million.
Tropicana Casino and Resort Atlantic City saw its land-based drop by 13% to $24 million, while the venue’s online operation ended the month with a 16.2% increase, or $3.6 million.
Online Performed Far Better
Caesars Entertainment Corporation-owned Bally’s Atlantic City experienced pretty much the same month, with its land-based casino win for April going down by 7% to around $14.1 million. It still managed to bring $351,363 from sports betting, while its overall monthly gaming went down by 4.7% to $14.5 million.
Harrah’s Resort Atlantic City ended April with land-based casino win of $27.1 million, which is 6.6% less than in the same month of the previous year. At the same time, the venue’s gaming revenues dropped by 6.3% to $27.2 million.
The report also revealed that Ocean Resort Casino, which was reopened in June last year, generated over $15.1 million in casino win during April, while its online and sports betting boosted its overall gaming revenue to $16.3 million.
Hard Rock Hotel and Casino Atlantic City had even better performance, with its land-based operation recording win of $23.3 million. The overall gaming revenue of this venue reached $25 million thanks to online and wagering on sports.
New Jersey’s two land-based sportsbooks located outside Atlantic City, Meadowlands Racetrack ended April with $12.1 million in revenue, while Monmouth Park Racetrack’s overall result for this month was lower at $2.5 million.
The NJ Division of Gaming Enforcement revealed that the state had recorded $1.03 billion in combined gaming revenues since the year kicked-off. This result represents an increase of 27.3% when compared to the corresponding period of 2018. April also contributed some $23 million in tax.
- World Casino News: https://news.worldcasinodirectory.com/igaming-helps-atlantic-city-casino-market-to-record-a-successful-april-66496
- Press of Atlantic City: https://www.pressofatlanticcity.com/news/press/casinos_tourism/april-revenue-numbers-for-atlantic-city-casinos-to-be-released/article_e0ab80c4-d26f-5f07-ae53-f721d3b92713.html