Online gambling

NJ Casino, Sports, online gaming revenue up 15% in May – NBC10 Philadelphia

New Jersey casinos, racetracks that offer sports betting and online partners of both types of gambling venues earned $430.6 million from gamblers in May, up 15% from the year previous year, according to figures released Thursday.

And the casinos’ core business, revenue earned from in-person gamblers, fell just below the May 2019 level, before the coronavirus pandemic hit, a significant metric for Atlantic’s brick-and-mortar casino industry. City, whose incomes have been struggling. rebound from pre-pandemic levels.

The figures do not include money the tracks have earned on horse racing, which is reported separately to a different agency.

Jane Bokunewicz, director of the University of Stockton’s Lloyd Levenson Institute, which studies Atlantic City’s gambling industry, said the numbers show a continuing trend of recovery for the resort’s casinos in the third year. of the coronavirus pandemic.

“However, inflation could start to impact in-person gaming revenue,” she said. “Total physical games gross revenue for the month, which is expected to improve from $235.3 million last month, was effectively flat at $233 million, down less than 1%.”

Bokunewicz said visitors will likely still want to visit Atlantic City with its casinos, beaches, nightclubs and restaurants. But once they get here, they might have less money to spend, she says.

James Plousis, chairman of the New Jersey Casino Control Board, said total revenue, including internet betting and sports betting, was the highest for the month of May in more than a decade.

“Atlantic City’s hotel-casino business volume has been robust and, coupled with a maturing online gaming business, can be a powerful combination,” he said.

In terms of money earned from in-person players, Borgata led the market in May with $63.3 million, up more than 30% from a year earlier.

Hard Rock was next with $41.5 million, up nearly 19%; Ocean was third with $25.3 million, up nearly 3%, and Tropicana was fourth with $21.6 million, up 8.5%.

Harrah’s earned $21.2 million, down 1.6%; Caesars won $20.2 million, down 9.5%; Resorts earned $14.1 million, down 8%; Golden Nugget won $12.7 million, down 3%; and Bally’s took home $12.6 million, up 2.6%.

Players bet $766.4 million on sports in May. Total sports betting revenue, after paying winning bets and other expenses, was $61.5 million, up 16.4% from a year ago.

Casino internet gambling operations earned $136m in May, up nearly 26%, though casino executives say the figure is misleading as around 70% of online winnings are kept by partners third.