New Jersey gambling industry sees nearly 7% increase in revenues for September

Home » New Jersey gambling industry sees nearly 7% increase in revenues for September

The gambling industry of New Jersey is faring well this year, with monthly revenue reports showing gains. For September, providers of casino gaming, online gambling, horse racing, and sports betting, generated close to $485 million in earnings. This was an almost 7% increase from September 2021.

On a positive note, things are looking up when compared to pre-COVID-19 conditions. The nine casinos offering services in Atlantic City were able to surpass the earnings from September 2019, with almost $252 million in revenues. This was a jump of 1.3% from 2019.

A Successful September for Land-Based Casinos

Surprisingly, the Hard Rock Casino and Ocean Casino were the two to see the best performance when compared to 2019 totals. The remaining seven venues still have yet to hit revenue levels from before the pandemic began.

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In-person gambling is still important, despite the fact that New Jersey offers iGaming. The industry has been concerned over the past few years about getting back to pre-pandemic levels, and the process is slow going. Hopefully, we will see more positive earnings for the land-based casinos in the coming months, helping each operator reach pre-pandemic earnings.

Lloyd Levenson Institute director Jane Bokunewicz commented on the month of September, stating that the mild weather helped to boost the fall season at casinos in Atlantic City. The Institute is part of Stockton University, and they study the gambling market in the state. At the current rate, it seems that Atlantic City might be able to exceed the end-of-year totals from before the pandemic.

Sports Betting and iGaming Earnings

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Other figures covered the sports betting industry in the Garden State and online gaming. Casinos and horse racetracks offering sports betting generated close to $867 million in wagers in September. Of that amount, close to $98 million was generated in revenues. This was a solid increase for the industry from last year at about 19%.

For online gambling, the earnings came in at over $135 million. This was a boost of 10%. Bally’s saw a huge boost in iGaming numbers, posting more than $3.7 million in revenues from online gaming. This was a huge increase when compared to the $337,000 earned in September 2021.

Borgata saw a nice increase in iGaming earnings, up 7.6% with just over $41 million in earnings. Golden Nugget jumped 10% with $34 million in revenues. Hard Rock saw a decrease in online revenues, generating just $5.7 million, a 2% drop.

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Tropicana saw a major shift in its online gaming numbers, earning only $4.9 million in September, a decrease of 32% from the previous year.

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