Online gambling

NJ Casino, Sports and Online Gaming Revenue Up 2.2% in June | Casinos

ATLANTIC CITY — New Jersey casinos, racetracks and their online partners earned $401.5 million from betting last month, a 2.2% increase from June 2021, figures showed Friday by the New Jersey Division of Gaming Enforcement.

So far this year, these entities have earned $2.43 billion, a 15.2% increase from the $2.11 billion reported at the same time last year, according to the report.

The June numbers indicate a continuation of the recovery trend for Atlantic City’s nine casinos since the height of the COVID-19 pandemic. Regardless of racetracks, the casinos’ total gaming revenue, which includes physical courses, internet winnings and sports betting revenue, increased by more than 9% in June compared to June 2021, reaching more than 377.4 millions of dollars.

So far in 2022, the city’s total casino gaming revenue has exceeded $2.2 billion, an increase of nearly 19% over last year.

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Without sports or online betting, brick-and-mortar casino revenue was up nearly 7% from last June. It was an encouraging sign, according to Jane Bokunewicz, faculty director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at the University of Stockton.

“The peak summer season is still ahead of us, and with the uncertainty of the potential Local 54 strike settled for most casinos, the summer is looking promising,” said Bokunewicz, who believed the rise in gasoline prices may have kept some visitors home in June.

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Five Atlantic City casinos were at risk of losing some of their workforce due to a strike this month, but new agreements with the casino union, Local 54, averted that.

Casino Control Board Chairman James T. Plousis also cited the station’s in-person presentation as an indicator of a strong summer for the station.

“With the many new in-person experiences recently added to make Atlantic City a must-visit destination, hotel-casinos have really rolled out the red carpet for vacationers this summer,” Plousis said. He cited the free entertainment on the boardwalk as well as upcoming concerts on the beach as providing “more reasons for tourists to visit and stay”.

The Borgata Hotel Casino & Spa topped the land-based casinos, earning nearly $54.3 million, followed by the Hard Rock Hotel & Casino Atlantic City, which brought in $44.6 million, according to the June report.

The online components of casinos collectively posted $133.1 million in June, an increase of more than 24% from $107.1 million last June.

“Consistent with current trends, a significant portion of this growth comes from the internet and sports betting, which have grown in importance over the past few years,” Bokunewicz said. “Since this time last year, internet gaming has grown so much in importance that even a seasonal cap in revenue generated by this activity (-2.1% compared to May 2022) has not diminished its impact. on overall industry performance for the month.”

Gross sports betting revenue in June thwarted growth in these sectors. Last month, New Jersey casinos, racetracks and their partners brought in $39.2 million in sports betting revenue, down from $71.3 million in June 2021, a drop of 44.9%, according to The report. Since the beginning of the year, this sector has fallen by more than 16% compared to last year.

Contact Eric Conklin:

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