New Jersey Casino Growth Streak Reaches 14 MonthsJuly Was The First Month Over The Course Of The Streak Where The Statistics Reflected Year-Over-Year Comparisons With Nine Casinos |
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New Jersey casinos experienced its 14th straight month of double-digit growth in July, but it’s more significant than the prior 12 months because it’s the first time there is an honest comparison of the New Jersey gaming market.
According to numbers released by the New Jersey Division of Gaming Enforcement, the state’s nine casinos generated $334.4 million in revenue, up 10.7 percent from July 2018. It is up from June’s $283.3 million in total gaming revenue as well.
Over the course of the streak, however, those numbers were comparing a New Jersey market with nine casinos to one with seven. This is the first time throughout the streak that has a full month of operation for both Hard Rock Atlantic City and Ocean Casino Resort. The two casinos opened last summer and were operating at full capacity in July 2018.
The Garden State saw massive growth in online gaming as well. The $39.3 million in revenue from online casinos was a 51.8 percent increase year-over-year from July 2018 and set a new record for online gaming revenue in the state.
Online sportsbooks brought in another $13.9 million in total revenue, which brought the total revenue from all forms of online gambling to $53.2 million.
Total sports wagering revenue was $17.9 million, which was an increase of $3.8 million year-over-year.
As usual, slot machines brought in the most revenue over the course of the month. Gamblers lost $193.3 million at slot machines, while another $83.8 million was lost at table games.
The Borgata was the state’s highest-grossing casino with $87.9 million in revenue. It was up a whopping 14.8 percent year-over-year. Hard Rock Atlantic City saw the most growth of any property in the city with a 24.6 percent increase compared to July 2018, which is expected when comparing it against its first month of operation.
On the other end of the spectrum, Resorts Atlantic City generated the least amount of revenue with just $18.1 million in revenue, which is actually up 1.8 percent.
Bally’s, Caesars, Harrahs and Tropicana all had declines in revenue ranging from a 5.6 percent drop for Bally’s to a 10.8 percent drop for Harrah’s.
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