New Jersey casinos, racetracks, and their partners revenue up 2.2% from year ago

New Jersey casinos, racetracks, and their partners revenue up 2.2% from year ago

Based upon filings with the Division of Gaming Enforcement released Friday, total Gaming Revenue reported by casinos, racetracks, and their partners was $401.5 million for June 2022, reflecting a 2.2% increase from $392.8 million reported in June 2021.

For year-to-date, total gaming revenue reported by casinos, racetracks, and their partners was $2.43 billion reflecting a 15.2% increase from $2.11 billion reported in the prior period.

Total Casino Win for the nine casino hotel properties was $229.1 million for June 2022, reflecting growth of 6.8% compared to $214.5 million for June 2021. Year-to-date Total Casino Win for the nine casino hotel properties was $1.31 billion, up 18.0% compared to $1.11 billion for the prior period.

Borgata Hotel Casino & Spa led the brick-and-mortar casinos, earning nearly $54.3 million, followed by Hard Rock Hotel & Casino Atlantic City, which made $44.6 million, according to June’s report.

“Total brick-and-mortar revenue for the month was up 6.8% compared to June 2021, which is encouraging since the industry does not have the benefit of the pent-up demand that motivated much of last summer’s activity,” according to Jane Bokunewicz, faculty director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism (LIGHT), Stockton University School of Business.

“The peak summer season is still ahead of us, and, with the uncertainty of the potential Local 54 strike settled for most casinos, the summer looks promising,” Bokunewicz comtinued.

For the month of June, Internet Gaming Win reported by casinos and their partners was $133.1 million, reflecting growth of 24.4% compared to $107.1 million for the prior period. For the year-to-date period, Internet Gaming Win reported by casinos and their partners was $814.5 million, reflecting growth of 28.4% compared to $634.2 million for the prior year-to-date period.

Double-digit growth in internet gaming win pushed total gaming revenue to its highest level for June in over a decade,” James Plousis, chairman NJ Casino Control Commission stated. “With the many new in-person experiences recently added to make Atlantic City a must-see destination, the casino hotels have truly laid out the red carpet for vacationers this summer. Free entertainment on the boardwalk at least three nights per week, in addition to two full weekends of beach concerts later this summer, provide more reasons for tourists to visit and stay.”

Sports Wagering Gross Revenue reported by casinos, racetracks, and their partners was $39.2 million for June 2022, reflecting a 44.9% decrease when compared to $71.3 million in the prior period. Sports Wagering Gross Revenue reported by casinos, racetracks, and their partners was $308.7 million for the year-to-date, reflecting a 16.2% decline when compared to $368.3 million for the prior period.

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