New Jersey’s high-flying web playing market continues to smash information. However the sum of money received from in-person gamblers at most of Atlantic City’s casinos is lower than it was earlier than the COVID-19 pandemic.
Figures launched Tuesday by the New Jersey Division of Gaming Enforcement present that the casinos and their on-line arms received over $197 million from on-line on line casino video games in March, setting one other month-to-month report.
And though it was not a report, sports activities betting, powered by the March Insanity faculty basketball event, noticed nearly $1.33 billion value of bets taken in March. That was the fourth-highest quantity since sports activities betting turned authorized in 2018 following a U.S. Supreme Court docket resolution in a case introduced by New Jersey.
Together with in-person on line casino winnings, web playing and sports activities betting income, the casinos, their on-line companions and horse tracks that settle for sports activities bets received over $526 million in March, up 8.1% from March 2023.
However the casinos’ key metric, the sum of money received from in-person gamblers, continued to battle. Whereas the $239 million the 9 casinos collectively received from in-person gamblers was up practically 5% from a 12 months earlier, and narrowly exceeded the whole that every one 9 received in March 2019, earlier than the pandemic hit, solely two of the 9 casinos individually received extra in individual final month than they did pre-COVID.
Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton College, which research the Atlantic Metropolis playing market, stated whole playing income for 2024 is “off to a solid start” over the primary three months of this 12 months, up 11% in comparison with the identical three months final 12 months.
The casinos care most about in-person winnings as a result of they will preserve all that cash. In contrast, cash received from web playing or sports activities betting should be shared with exterior events.
The Borgata received $56.5 million in individual in March, down 8.1% from a 12 months earlier. Arduous Rock received $44.3 million, up 11%; Ocean received $40.6 million, up 17.6%; Harrah’s received $21 million, up 2%, and Tropicana received $19.8 million, up 2.5%.
Caesars received $18.5 million in individual, up practically 8%; Golden Nugget received $13.6 million, up 11.4%; Resorts received $13.4 million, up practically 6%, and Bally’s received $11.7 million, up 11.2%.
When web and sports activities betting income are added, Borgata received $106.6 million, down 6.1% from a 12 months earlier; Golden Nugget received $70.6 million, up 28.2%; Arduous Rock received $58.3 million, up 17.2%; Ocean received practically $48 million, up over 21%, and Tropicana received $36 million, up 11.5%.
Harrah’s received $22.2 million, up 8%; Bally’s received $20.9 million, up 20.6%; Caesars received $18.7 million, up 10.2%, and Resorts received $13.6 million, up 8.4%.
Resorts Digital, the on line casino’s on-line arm, received $66.4 million, down 11%, and Caesars Interactive NJ received $6.4 million, down 23%.
The casinos and tracks stored just below $90 million in sports activities betting income after wining bets and different bills had been paid.
