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NJ Casino Online, Sports Betting Revenue Up 10% in August

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Wayne Parry, Associated Press

ATLANTIC CITY, N.J. (AP) — New Jersey casinos, racetracks offering sports betting, and online partners of both types of gambling outlets received $470.6 million from gamblers in August, according to released figures. won. Friday by state gambling regulators.

About $274 million was won from face-to-face gamblers at casinos, up 4.4% year-on-year. However, that total is still below the level he was in in August 2019 before the coronavirus pandemic hit, with totals above $286 million.

Despite ever-increasing amounts of money coming from internet and sports betting, the main goal of Atlantic City’s nine casinos is to bring face-to-face gamblers back to pre-pandemic levels.

Casino executives say these revenue streams are misleading. Must be shared with third parties, including technology platforms and sportsbooks. By some estimates, 70% of his internet and sports betting funds are not held in casinos.

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“It’s been a great summer for Atlantic City and the region,” said James Prusis, chairman of the New Jersey Casino Board. will continue to do.”

Comparing results for the summer three months to the same period last year, Atlantic City casino winnings increased more than 6%, while total gambling revenue rose 9% to over $1.2 billion, Plousis said. increase.

Jane Boknewitz, director of Stockton University’s Lloyd Levenson Institute, which studies the casino industry in Atlantic City, called the casino’s August performance a “solid result.”

She noted that in-person casino winnings are below pre-pandemic levels in August 2019, but have been above biweekly August since 2015.

“Compared to the growing contribution of internet gaming to total revenue, the relatively slow growth in brick-and-mortar gaming revenues suggests that rather than cannibalizing face-to-face gaming, consumption including significant internet gaming activity is growing. “It could indicate a change in patient behavior,” she said. she said. “Reducing our reliance on in-person gaming activity may help New Jersey’s casino industry remain competitive with its neighbors and be more resilient to potential future market disruptions. I have.”

In August, 5 out of 9 casinos reported an increase in winnings compared to the previous year. Borgata ($120.7 million, up over 29%). Hard Rock (~$54 million, +2.8%); Ocean Casino Resort (~$40 million, +~14%); Bally’s (over $20 million, up nearly 30%). and resorts ($18.7 million, +0.2%).

Four casinos reported a year-on-year decline in revenue. Golden Nugget ($44.5 million, down 2.7%). Tropicana ($35.1 million, down 7.8%); Harrah’s (over $25 million, down 10.4%). Caesars (over $22 million, down nearly 13%).

Borgata posted the second best month ever in August, only behind the $124 million he won from gamblers in July. Both of these figures represent the highest totals ever achieved by Atlantic City casinos since legal gambling began in 1978.

Among internet-only entities, Resorts Digital won $43.5 million, up nearly 26%, while Caesars Interactive NJ won $8.9 million, down 10%.

In the first eight months of this year, casinos, trucks and their partners collectively earned $3.38 billion, up 13.2% from the same period last year.

Casinos and racetracks received $546.7 million worth of sports betting in August, of which $65.2 million was retained as earnings after winning bets and paying other expenses. East Rutherford’s Meadowlands Racecourse, just outside New York City, earned $33.1 million. Freehold Raceway earned him $2.7 million and Monmouth Park in Oceanport near the Jersey Shore his $1.8 million.

Internet casino game revenue for August was $131.4 million, up more than 16% year-over-year. On Wednesday, a state legislative commission indicated that a New Jersey legislator is ready to extend his online gambling license in the state until 2033, for another 10 years.

Follow Wayne Parry on Twitter: @WayneParryAC

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