The month of June was a good one for the gambling industry in New Jersey. The state’s casino’s horse racetracks and online gambling providers won over $400 million in June. This was a 2.2% increase from the previous year’s totals. The New Jersey Division of Gaming Enforcement recently revealed the totals, showing that in 2022, over $2.4 billion has been won, a 15%+ increase from last year.
Continuing to Recover from COVID-19
While COVID-19 is still an issue, the major battle seems like such a long time ago. However, just a little over two years ago, casinos were battling closures and restrictions due to the new virus. It was a rough time for casinos as little to no revenues were coming in. It was not until later in 2021 that things started to turn around. This year, the casinos continue the recovery process post-COVID, and June is yet another month that showcases how the industry is continuing to thrive.
For casinos, the growth was substantial. Counting the retail casino and online services, plus sports betting of retail casinos, the revenue total came in at $377.4 million. This was a more than 9% increase from June 2021.
Casino gaming is booming this year, and so far, the operators are having way more success than last year. So far, venues are operating at almost 19% higher revenue rates than last year. By looking at land-based totals alone, the casinos earned almost 7% more than the 2021 totals.
The top retail operator in June was the Borgata Hotel Casino & Spa, earning over $54 million. Hard Rock came in second with $44.6 million in earnings. More players are traveling to Atlantic City to enjoy new in-person experiences for summer vacation. Beach concerts and free entertainment offered via the Boardwalk seem to be key driving points for individuals traveling to the Atlantic City area.
For the online industry as a whole, operators generated over $133 million in earnings. This was a boost of over 24% from last year. Players continue to log online at a record pace to enjoy online casinos, poker, and sports betting services.
For sports betting, June provided $39.2 million in total. This number includes the retail and online totals. This was much lower than in June 2021, when over $71 million was generated. The market saw a more than 44% drop. The sports betting industry continues to see a decline, with reports showing that year to date, the sector has dropped over 16% when compared to 2021.
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