Borgata Hotel Casino Tops $40 Million in Internet Gaming Gross Revenue for the 10th Time
March 2023 was a record-breaking month for online casinos in New Jersey as its seven operators generated a whopping $165.7 million in internet gaming gross revenue. The New Jersey Division of Gaming Enforcement revealed in its report that this figure was the highest monthly total recorded in the history of the state. It beat the previous record of $152.8 million set in January 2023 by almost $13 million, signifying a reasonable 8.4% increase over the period.
On a year-over-year comparison, the revenue posted in March 2023 was 17.8% better than in the same period in 2022. It also turns out online gambling in New Jersey throughout the first quarter amounted to $461.2 million, about 13% higher than the same quarter last year. This was the 25th consecutive month in which NJ’s online gaming revenue crossed $100 million.
NJ-DGE Statistics Show Resorts Casino Edging Borgata in March 2023
Borgata Hotel Casino was one of the leading contributors to this revenue record in the state. The operator was one of only three platforms that crossed $40 million in iGaming revenue. For Borgata, this was the tenth time in 11 months that the operator would top $40 million internet gaming gross revenue since the start of 2022.
More specifically, Borgata Casino generated $43.9 million in March 2023. Resorts Casino would however get the financial advantage this month, finishing March 2023 with $44.9 million and at the top of all other operators in the state.
Not only did Resorts blow Borgata Casino out of the water in March 2023, but it also broke the record for a monthly high achieved by any platform. Interestingly, this record was last set by Borgata in November 2022, when the operator ended the month with $44.3 million.
Borgata Hotel Casino & Spa is arguably the largest authorized online gaming platform in the whole of New Jersey. Scores Casino is one of the major sites operating under the auspices of the Borgata conglomerate and is owned by Pala Interactive. In addition, BetMGM, Pala Casino, Party Casino & Poker and Wheel of Fortune Casino also contribute to the mammoth revenue posted by Borgata monthly.
The total tax required of Borgata Casino and its affiliates for March 2023 stood at $6.6 million. Comparatively, Borgata contributed 26.5% to the total tax revenue of $24.9 million generated from iGaming in the state.
Retail Casino Gambling and Sports Wagering Spike Borgata’s March Financials
Land-based gaming proved to be Borgata’s strongest point as it outclassed all other casinos by generating a total revenue of $61.5 million. This was the first time this year that Borgata Hotel Casino crossed $60 million in retail casino gambling. Year-over-year, March’s revenue figures were 11.9% greater than the financials posted back in 2022.
However, with sports wagering revenue, Borgata could only rank a distant second to Resorts Digital Casino. Resorts pooled almost $30 million, a mind-blowing 150% jump from the same period in 2022 while Borgata could only manage $8.1 million and a 23% year-over-year increase. A combination of these figures brought Borgata’s total gaming revenue to $113.5 million, more than any other operator in Atlantic City for the month.
From a broader context, retail casino gaming, iGaming and sports wagering combined for a total revenue of $487.4 million in March. In essence, Borgata contributed 23.2% to the total gambling figures posted by the DGE. Expectations are high that Borgata Casino and its affiliates, including Scores Casino will continue an upward trend, ending the year as new Jersey’s most valuable operator.