New Jersey Casinos Experience 11th Straight Month of Casino GrowthGarden State's Nine Casinos Won $265.4 Million From Gamblers In April |
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With its most recent numbers released by the state’s Division of Gaming Enforcement, New Jersey casinos are just one month away from a full year of revenue growth.
According to those numbers, New Jersey casinos generated $265.4 million in revenue in April. It’s a massive 23.8 percent increase year-over-year and is the 11th straight month of growth for Garden State casinos. It is down slightly from March’s $294 million in revenue.
April’s win pushes the industry over $1 billion in revenue through the first four months of the year. New Jersey casinos have won $1.03 billion in 2019, a 27.3 percent increase from the prior period.
Online gaming has been a massive reason for this increase. Online and mobile gaming generated $36.6 million in April, with Golden Nugget Atlantic City responsible for more than a third of that revenue. Golden Nugget generated $13.8 million of the online revenue in the state.
The bulk of April’s revenue came from table games and slot machines. Casinos won $207.6 million from gamblers in those games, which represented an 8.4 percent increase year-over-year. However, Borgata Hotel Casino and Spa was the only property to report an increase, while the rest of the revenue came from Oceans Resort Casino and Hard Rock Atlantic City, which were not operating a year ago.
There was another $21.2 million in revenue from sports betting. The FanDuel sportsbook at the Meadowlands won the most of any sportsbook in the state with a whopping $12.1 million in revenue. Throughout the state, there was a total handle of $313.7 million, 81 percent of which came from online and mobile apps.
Once again, Borgata was the most profitable casino in the state with $53.4 million in revenue. Resorts Casino was at the bottom of the list with just $12.8 million in revenue. Resorts, however, did have one of the most profitable sportsbooks, winning $4.77 million from sports bettors.
Resorts has a partnership with Amaya Gaming, parent company of PokerStars, and their online sportsbook, BetStars NJ, is big reason for the successful sports betting operation at Resorts.
With an 8 percent tax on gross casino revenue and a 15 percent tax on internet gross gaming revenue, the state took in $23 million in taxes.
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