Technical support issues
Casinos in New Jersey, racetracks and online partners receiving sports betting gained 9.5% year-on-year to $462.7 million in April. The figures include victories in Internet and sports betting operations.
However, physical casinos' in-house gains fell 1.6% to $231.4 million. Because the revenue from online and sports betting operations must be shared with partners, casinos view the amount earned from in-house gamblers as a key indicator of the health of the Atlantic City casino industry.
James Plussis, chairman of the New Jersey Casino Control Board, said that although April's casino income fell this year, it was still the second strongest April in 11 years.
"The growth of internet game wins and sports betting revenues has led to Atlantic City's total game revenue exceeding $400 million for the second consecutive month, a positive result more commonly seen in the summer," he said. "With regular visits to casino hotels, I hear a lot of optimism that this summer will be a great summer in Atlantic City."
Jane Bokunevich, a professor at Lloyd Levenson Laboratory at Stockton University who studies the Atlantic City gambling market, said casinos performed relatively well in the first four months of the year.
"Traditionally, during the slowest first four months of 2023, Atlantic City's casino operators generated nearly half of their total gaming revenue in 2019," she said.
Toward the pivotal summer 2023 season, she said, momentum in total game revenue could help overcome ongoing staff shortages and increased operating costs caused by large increases in workers from union contract negotiations last summer.
For money received from on-premises gamblers, Bali fell 4.3% to $13.8 million, Borgata fell 5.7% to $58.1 million, Caesars fell 2.7% to $19.6 million, Golden Nuggets rose 6.6% to $13.1 million, Hard Rock fell 4.4% to $38.8 million, and Tropicana Resorts fell more than $13,180 million.
Only Borgata, Hard Rock and Ocean won more victories from in-house gamblers in April than in April 2019.
Including money from internet gambling and sports betting, Bali rose 18% to $20.5 million, Borgata rose 1.7% to $17.8 million, Caesars fell 1.6% to $19.9 million, Golden Nuggets rose 9.1% to $54.8 million, Hard Rock fell 4.2% to $46.5 million, and Ocean gained more than 40% to $12.72 million.
Among Internet-only companies, Resorts Digital rose more than 69% to $61.9 million and Caesars Interactive fell 4% to $8.7 million.
Internet gambling rose more than 16% from a year ago to $159 million, and sports betting rose 43.6% from a year ago to $72.3 million. Meadowland Racecourse in East Rutherford, just outside New York City, earned more than half of all sports betting.
Nearly $834 million was caught in sports in New Jersey in April.
Thursday, October 19, 2023