New Jersey’s casinos generate $971.8m in Q3 gaming revenue

The New Jersey Division of Gaming Enforcement (NJDGE) has published its third-quarter and nine-month gaming revenue results. The state’s casinos brought in a combined total of $971.8m during the third quarter.

However, casino revenue statewide dropped by 0.9% when compared to results from the previous year’s quarter.

NJDGE posted $281.2m in gross operating profit from casino licensees, reflecting a decrease of 7.5% year-over-year.

For the nine-month period, net revenue climbed to $2.5bn; up 0.6% when compared to results from the previous nine-month period.

Operating profit reached $632.1m during this year’s first nine months, representing a drop of 4.2% year-over-year.

New Jersey’s casinos reported an 85.6% casino hotel occupancy rate for the third quarter. The period’s result reflected a fall of 1.1% when compared to last year’s figures.

For the nine-month period, the casino hotel occupancy rate reached 75.2%, down by 1% year-over-year.

In other state news, five New Jersey casinos, plus a horseracing track recently forfeited more than $77,000 previously earned by underage gamblers or self-excluded players, according to an Associated Press report.

The five Atlantic City casinos included Ocean Casino Resort, Bally’s, Freehold Raceway, the Golden Nugget and Harrah’s. Ocean Casino Resort turned over $7,500, Bally’s $5,600, Freehold Raceway $4,400, the Golden Nugget $4,200 and Harrah’s close to $900.

The state will use the forfeited funds for compulsive gambling treatment programs, and to provide aid to senior citizens and people with disabilities.

David Thompson

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