Gambling in NJ Generated $430.6M Revenue in May

The revenue from gamblers won by the casinos in New Jersey, including sports betting and online gambling, reached $430.6 million this May, which is 15% higher than in May 2021. These numbers are according to data published on June 16 but do not include profits from betting on horse races as they are reported to another entity.

Atlantic City Casinos Recover from the Impact of the Pandemic

The Atlantic City brick-and-mortar casino industry has been struggling to recover from the effects of the pandemic and obviously is on its way to doing so. The profits from in-person gambling were nearly the same as in May 2019. The brick-and-mortar casinos in Atlantic city posted gross gaming revenue (GGR) exceeding $233 million in May 2022, which makes it the best one in almost a decade.

James Plousis, chair of the New Jersey Casino Control Commission, confirmed that as well:

The industry’s casino win was the strongest reported figure in the month of May for the past nine years.

James Plousis, chair, New Jersey Casino Control Commission

At the same time, the director of the Lloyd Levenson Institute at Stockton University, Jane Bokunewicz, whose research field is focused on the Atlantic City gambling industry, has highlighted that inflation is an imposing threat:

However, inflation may be beginning to impact in-person gaming revenues. Brick-and-mortar gross gaming revenue totals for the month, expected to improve over last month’s $235.3 million, were effectively flat at $233 million, down less than 1%.

Jane Bokunewicz, director, Lloyd Levenson Institute

She also stressed that people will keep coming to Atlantic City attracted to its beaches, casinos, restaurants and nightlife but with the way things are going, they will have less money to spend.

Inflation Is not the Only Threat to Gambling Profits

With worker agreements having expired on June 1, the casino industry in New Jersey may be up for serious trouble. On June 15, the local union Unite Here, representing about 10,000 employees holding various jobs in the industry, authorized strike action. There could be mass walkouts after July 1 if employers do not reach an agreement with the union, which demanded a significant pay rise stressing the following:

The Atlantic City casino industry is enjoying rising profits, but workers are struggling to make ends meet. They need wage increases and safe workloads.

Unite Here statement

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