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June 17, 2022 Casino, Finance, Results

Gaming revenue in New Jersey up 15% for May 2022

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Online casino was up 26% through the month along with sports wagers.

Through May of 2022, New Jersey’s casinos, horse tracks that offer sports betting and the online partners of both types of gambling outlets generated $430.6m in gross gaming revenue. 

Revenue won from in-person gamblers fell just short of its total from May 2019. This is an important note for Atlantic City’s brick-and-mortar casino industry, which has had a hard time recovering. The revenue included in the report doesn't include money the tracks won on horse races, which is reported to a different agency.

Director of the Lloyd Levenson Institute at Stockton University, Jane Bokunewicz, said: "Brick-and-mortar gross gaming revenue totals for the month, expected to improve over last month’s $235.3m, were effectively flat at $233m, down less than 1%."

James Plousis is the Chairman of the New Jersey Casino Control Commission. Plousis made remarks on how the total in terms of revenue from internet and sports betting was the highest for the month of May in over 10 years.

Plousis added: "The volume of activity in Atlantic City’s casino hotels has been robust and, coupled with a maturing online gaming business, can be a powerful combination."

Borgata led the market in terms of money won from in-person gamblers at $63.3m, which is up 30% from the prior year. Hard Rock came in behind Borgata at $41.5m, up almost 19%, and Ocean was third at $25.3m. The Tropicana came in fourth at $21.6m, up 8.5% over 2021.

The rest of the group ended with: Harrah's $21.2m; Caesars $20.2m; Resorts $14.1m; Golden Nugget $12.7m; Bally's $12.6m. All of the casinos listed went down a significant percentage in 2022, aside from Bally's which was up 2.6%.

In total, gamblers wagered $766.4m on sports for May. After expenses were paid, total sports betting revenue was up 16.4% from 2021, with a total of $61.5m.

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