New Jersey Gaming Revenue up in April as iGaming Gains Ground
The gambling industry in New Jersey saw overall revenue climbing by 10.4%, yet not all sectors enjoyed equal success. The state's casinos, horse tracks, and online partners collectively garnered over half a billion dollars from gamblers. However, the surge was primarily driven by the state's performance in online gambling, which had its second-best month on record, highlighting the significant role of online casinos in NJ.
A birdseye view of the Atlantic City Boardwalk and casinos. (Source: Getty Images)
LISTEN TO THIS ARTICLE:The nine casino hotel properties in Atlantic City, according to the New Jersey Division of Gaming Enforcement report, saw revenue of $216.8 million for April, a decrease from the $231.5 million reported in April of last year. This dip is part of a broader trend, with year-to-date revenue also falling by 1.6% compared to 2023, totaling $872.9 million.
Related: New Jersey Starts 2024 with Record Gambling RevenueIn contrast, the iGaming revenue for April stood at $187.9 million, an 18.2% increase from last year's $158.9 million. The year-to-date figures for Internet gaming win also reflect a healthy growth of 21.1%, amounting to $750.7 million.
Sports wagering has shown remarkable growth. The gross revenue from sports betting soared to $106.2 million in April, a substantial 46.9% jump from 2023. This sector's year-to-date revenue also escalated dramatically, with a 48.6% increase, reaching $434.2 million.
Overall, the total gaming revenue reported by casinos, racetracks and their partners for April was an impressive $510.9 million. This figure not only reflects the 10.4% increase from the previous April's $462.7 million but also indicates a strong year-to-date growth of 14.4%, with total revenue reaching $2.06 billion.
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Breaking Down the Numbers
The Borgata led Atlantic City casinos in in-person revenue in April, winning $58.3 million, up slightly from a year earlier. Hard Rock followed with $41.1 million, up 6% from last year. Ocean Casino Resort saw a decrease of 15.6% in revenue, bringing in $28.8 million. Its casino floor was closed for four days in April while it switched computer systems.
Tropicana ($17.7 million), Harrah's ($16.4 million), Caesars ($16 million), Bally's ($13.1 million), Golden Nugget ($12.7 million), and Resorts ($12.4 million) all experienced revenue dips compared to April 2023.
When including internet and sports betting revenue, Borgata remained on top at $107.7 million, though down slightly from last year. Golden Nugget ($66 million) and Hard Rock ($55.2 million) saw significant growth in this area, up 20.4% and 18.6% respectively.
Ocean's total revenue fell to $35.7 million, while Tropicana rose to $34.8 million, nearly a 28% increase. Bally's also saw an increase of 5% to $21.5 million. Harrah's ($18.3 million), Caesars ($16.1 million), and Resorts ($12.1 million) all saw a decrease in total revenue, including internet and sports betting.
On the other hand, Resorts Digital, an internet-only entity, brought in $66.4 million, up 7.2% from April 2023. Caesars Interactive NJ revenue was $612,910.
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