New Jersey Casino Gambling Revenues Increase by 9.5% for April

The Garden State has seen a good report for April when it comes to overall earnings from gaming. New Jersey casinos and racetracks generated $462.7 million in April, an increase of 9.5% for the month when compared to 2022. The figure represents online and sports betting services plus land-based totals.

While the online market and sports betting are doing well, the physical casinos saw a drop in earnings. The gaming venues generated just $231.4 million, which was 1.6% less than last year. Online and sports betting earnings are shared with partners under the same license, so casinos see the on-site earnings as an indicator of how the industry operates.

While the monthly total was down for the physical casinos, the month was still the second-strongest April in over a decade. Online gaming and sports betting growth helped to increase the total gaming win to over $400 million for the second month running. It is a positive for the industry as a whole and is a sign that more growth may be coming. Usually, the increase in online activity is not seen until the summer.

The first four months of a year are typically the slower times for Atlantic City. Usually, the visits and online earnings speed up as the summer and fall arrive. This year, the industry has already seen a boost in totals that is not typical for the time frame.

It is expected that summer will be a busy time for New Jersey casinos. There are increased operating costs right now, plus a labor shortage. It will be interesting to see how the state fares as the summer months arrive.

Let’s take a look at on-site gaming earnings totals and online reports. Bally’s won over $13 million on-site, but this was a more than 4% decrease from last year. Borgata came in with a huge month of over $58 million in earnings, but this was 5.7% less than in 2022. Caesars was down 2.7% with $19.6 million, and Hard Rock was down 4.4% with $38.8 million.

Harrah’s was down as well at 5.7% with $21.8 million, while Tropicana was down 13% with only $19.5 million in earnings. Resorts dropped 13% as well, with $12.4 million in earnings.

On the upside, Golden Nugget increased 6.6% on the year with $13.1 million in revenues. Ocean Casino was also up with a more than 30% increase to $34.2 million.

Online gambling was up for most providers, with Borgata generating the most from its iGaming operators. The brand brought in over $107 million, which was a 1.7% boost from last year. Bally’s won over $20 million, an increase of 18%. Ocean Casino was up a whopping 40% with $39.1 million, and Golden Nugget was up 9.1% with $54 million.

On the downside, Caesars dropped 1.6% to $19.9 million, while Hard Rock was down 4.2% with just over $46 million. Resorts saw a more than 12% decrease with $12.3 million. Tropicana was down 18.4% with $27.2 million.

For those that operate online only, the numbers were mixed. Resorts Digital saw a huge increase of more than 69%, with over $61 million in earnings. Caesars was down, though, with only $8.7 million, a decrease of 4%.

Online gambling as a whole generated close to $159 million. This was a large increase of around 16% from April 2022. Sports betting generated $72.3 million, over 43% more than last year. It’s amazing to see the boost in iGaming for the state. It shows that players prefer the convenience of mobile gaming and will choose to play online more often than not.

We will stay tuned in the coming months to see how the industry fares both online and offline. Will the higher online totals continue to climb?