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Casinos, racetracks, and online gaming partners in New Jersey reported robust earnings in August, with total revenue exceeding $531 million. This marks a nearly 13% increase compared to the previous year, according to figures released by the New Jersey Division of Gaming Enforcement.
In-person sports bets placed at Atlantic City’s nine casinos experienced a 2.3% increase from the previous year, reaching a total of $280.2 million. These in-person earnings hold significance for Atlantic City’s casino industry as it aims to surpass pre-pandemic business levels.
Despite challenges faced during the pandemic, three casinos – Borgata, Hard Rock, and Ocean – outperformed their August 2019 in-person gambling revenue figures, with a combined total of $280 million in August this year.
James Plousis, Chairman of the New Jersey Casino Control Commission, commented on the strong performance, stating, “Atlantic City’s total August gaming revenue surpassed $500 million for only the second time in history, and is on track for a very strong year. Hotel-casinos reported the second-highest total gaming revenue since inception and their best result in 18 years.”
Jane Bokunewicz, Director of Stockton University’s Lloyd Levenson Institute, which studies Atlantic City’s gaming market, expressed optimism about the city’s casinos in 2023. She stated, “If New Jersey follows national trends, we could be looking at the industry’s best year in terms of gross gaming revenue in over a decade.”
The state remains positive about the coming months of the year, with expectations for continued growth in the gaming sector.