The February revenue for the New Jersey Division of Gaming Enforcement was released on Thursday, March 16, 2010. An increase of 10.4% is evident in casinos, horse tracks that accept sports bets, and online partners of gambling properties. The casinos and tracks’ revenues were more than $412 million.
However, in-person gaming hasn’t recorded such an increase. The COVID-19 pandemic had a significant impact on the entire business, so the results may not be applicable.
The results were good but not exact as most of the revenue was generated from online gambling. Online betting winnings must be shared with partners such as sports books and tech platforms, so the profit for casinos and tracks is smaller than expected.
On-site gambling brought about $215 million in revenue. This is a slight decrease from last year’s revenue of 1.2% lower than 2023. However, online gambling is in expansion since it achieved $143.5million more than the previous year.Director of the Lloyd Levenson Institute, Stockton University, Jane Bokunewicz
, studies the Atlantic City gambling industry. According to him, “Locally the addition of two additional casino resorts has caused a disruption in market share. The local market pie has grown, but the way that pie is cut has changed, shifting in favor of the newest entrants to the market.”Casino results:
gained 14.3% more revenue in land-based casinos compared to the next year, with an earned amount of $12.2 million. Borgata’s revenuewas $57.4million, 8.8% higher than 2022. Caesarsearned more than $19million, an increase of 1.4%. The revenue of Hard Rock increased by almost 1% to $37.5 million. Harrah’s had a great month, earning 8.1% more than in 2022 and revenue of $21.3 million.Golden Nugget
decreased by 14%, with revenue of $11.1 million. Ocean saw a 11.5% decrease, earning $26.2 million. Resorts had a smaller decrease of 2%, with winnings of $12.6 million, and Tropicana’s losses also weren’t so significant – the casino was down a bit under 1%, with a revenue of $17.2 million.When it comes to online gambling,
Bally’s was up 49%, with earnings of $18.1 million, and Borgata was up 7.4%, with revenue of $101.2 million. Caesars had almost the same results. They improved by less than 1 percent, with $19.2 million in revenue. Bally’swas up 49%, with earnings of $18.1 million. Borgata was up 7.4%, with revenue of $101.2 million. Golden Nugget’shad earnings of $47.8 millions. Hard Rock1010101010101010101010101010101010101010101010101010101010.10101010101010101010101010101010101010101010101010101010101122010101010101010101010101010101010101010101010101010101010101101010101010101010101010111.241.2 million1010101010101010101111111111111111111111111111111111111111111111111111111111111213111111121312millions10101010101010101010101010101010101010101010101010111112 million and revenue of $91.2 million and an almost 1% while the revenue of sars10101010101010101010101010101010101010101010101040101010101010101010101010101010101010101010101010101010101010) were almost at $41.2 million with revenues of almost a10101010101010101010101010101010101010101010101010101010101212121212 million of $111.2 million. Harrah’s revenue was approximately $21 million. Its earnings also increased 7.4%
Ocean’s results in 2022 were 2.2% lower than in 2022 with revenue of 30.1 millions. Resorts were down 5,4%, revenue was $12.6%, and
Tropicana 01001010has been half a percent better with revenue of $26.2 million.01001010Resorts Digital01001010, an online-only casino, has a huge increase of more than 25%, with revenue of $48.2 million. 01001010Caesars Online NJ01001010 saw its revenue drop by 17.5% to $8.3 million.01001010