The New Jersey land-based casinos are still on the lead, after generating over $227 million in revenue in May. Meanwhile, online casinos and sportsbooks generated slightly over $161 million, bringing the total revenue for May to $470.9 million.
This data was released by the New Jersey Division of Gaming Enforcement. The report also shows that the total gaming revenue for this year has hit $2 billion. May`s gaming revenue was 9.4 percent more than last year May.
While the figures are still far from what Nevada is witnessing, New Jersey casinos are doing well. For instance, the May revenue generated from online gaming in the state was the second-highest since online gambling became legal in the Garden State. Meanwhile, the $82.2 million generated from sportsbooks marked the eighth-best monthly income in 60 months.
Atlantic City casinos witnessed a slight drop compared to the same month last year. The 2.4 percent decline was due to less revenue from table games. In other words, the house (casinos) won $54.4 million which was 7.3 percent less than that of 2022.
Out of $470 million, $48.8 million covered the state`s tax. Almost half of this came from internet casino gaming. Sports betting contributed $10.5 million in taxes while Atlantic City land-based casinos covered the balance.
Borgata Online Casino Was a Top Performer
Both Borgata and Golden Nugget were top performers. Borgata took the first spot with over $44 million, only $545k more than what Golden Nugget generated.
In fact, Golden Nugget online casino generated 43.5 million. However, Borgata removed the casino from the top spot with its $761,102 rake from poker.
Resorts also did well as they generated over $40 million for the third consecutive month. Tropicana generated $8.1 million, the highest since the casino resort generated $9.4 million in April last year. This was an impressive performance and 2 percent month-over-month surge, especially because the resort was not offering promotional revenue.
Hard Rock Resorts generated $5.7 million for the second consecutive month. This was a $13k month-over-month increase. Bally`s generated $6.8 million, which was $90k more than that of April 2023.
Some resorts lost money. For instance, Ocean Resorts generated $3.4 million in May and $4.7 million in April. This was a 27.3 percent decrease.
Caesars falls in the losing category after generating $8.3 million in May. This was a 5.4 percent revenue drop from April.
Last year, New Jersey casinos generated $136 million in May. This year though, the May revenue was 18.7 percent up. Meanwhile, the internet casino revenue has passed $781 million since the year started.
Ocean and Bally`s Year-Over-Year Revenue Growth
While Ocean Casino and Bally’s were the worst May 2023 performers, they were the best year-over-year revenue generators. The over seven land-based casinos recorded a decline in revenue while Ocean Casino recorded a 17.3 percent year-over-year growth.
Meanwhile, Bally`s recorded a 4.2 percent year-over-year revenue growth. The casino generated slightly over $13.2 million more even though that was a month-over-month decline of 4.3 percent.
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