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

November 22, 2023
By

Casinos statewide reached a net revenue milestone for the first time in nine months.

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.

State-by-State

Product Spotlight

Bragg Gaming Group

Bragg Gaming Group is a global content-driven iGaming technology provider, serving online and land-based gaming operators with its proprietary and exclusive content and cutting-edge technology.
GA HUDDLE #087

John Connelly - Interblock preparing to launch online by the end of year

John Connelly, the Global CEO of Interblock, joins the Huddle to talk about:
- The company's conversion to the online space
- The performance of ETGs
- Interblock's new philanthropic efforts
- The trend of companies going private
- And more!
GA HUDDLE #086

Michael Hershman - Dispelling casino 'myths:' New York needs to lose fear of the unknown

Michael Hershman, CEO of the Soloviev Group, joins Tim Poole on the Huddle to put forward his case that the Freedom Plaza is the way to go for one of New York's casino licences. He fields a variety of questions - not shying away from any of them - on why 'myths' about casinos and a fear of the unknown should be dispelled, as well as acknowledging the strength of rival bids and discussing opposition to the project.

As the Tribal gaming sector congregates once more in the Golden State, is it too cliché of me to suggest we are heading for a golden era of Tribal gaming? With the industry set to meet at the Indian Gaming Association t...

10-11-From-the-top
From The Top: Will youth be served by Sports Betting?
Two recent interviews in our Huddle podcast revealed to Las Vegas correspondent Brian Joseph just how young sports betting entrepreneurs are becoming.
12-GA-MAR-10-year-v2
The Global Gaming Awards: Rewarding Excellence
The 10th edition of the Global Gaming Awards took place in Las Vegas last year. Gaming America looks back... and ahead to this year's.
16-18-IGA-Preview
Preview: Indian Gaming Tradeshow & Convention
Gaming America looks ahead to the 2024 Indian Gaming Tradeshow & Convention and what attendees can expect when they arrive at the Anaheim Convention Centre.
20-22-GA-Mar-888-Holding-article
888 and the US Market: A cautionary tale
Gaming America explores the risk of resting on your laurels and the challenge of remaining relevant in a rapidly expanding market.