Casino Gaming Revenue Down At NJ Casinos, Internet & Sports Wagering Up
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New Jersey's nine casinos have seen a dip in in-person gaming revenue, while internet and sports wagering have seen a significant increase. The casinos brought in $212 million last month, marking a 1.6% decrease compared to the same time last year.
On the flip side, internet gaming at casinos and their partners saw a 28% increase, bringing in $182 million in February, compared to the same month last year. Sports wagering also saw a 24% increase at casinos, racetracks and their online partners, raking in $68 million last month.
Despite the overall increase in total gaming revenue, the decrease in in-person gambling revenue is a cause for concern. In-person gambling is considered the core business for these casinos. Money from internet gambling and sports betting has to be shared with outside parties like sports books and technology platforms, and it is not solely for the casinos to keep.
The Borgata won over $98 million, down 3.1% from a year earlier; Golden Nugget won $62.9 million, up over 31%; Hard Rock won $55 million, up 24%; Ocean won $37.6 million, up nearly 25%; and Tropicana won over $30 million, up 15%.
In terms of in-person revenue, Borgata won $53.6 million, down 6.7%; Hard Rock won $41.1 million, up 9.6%; Ocean won over $31 million, up over 18%; Harrah’s won $18.2 million, down 14.7%; and Tropicana won $16.6 million, down 3.1%.
Over $1 billion in total sports bets were made in New Jersey in February. Of that total, $67.5 million was kept as revenue by the casinos, tracks and their partners after paying out winning bets and other expenses.
