New Jersey’s Gambling Revenue Maintains Its Steady Rise through July

The New Jersey Division of Gaming Enforcement’s monthly report revealed that June’s trends remained roughly the same as the online sector thrives. Despite the single-digit drop in land-based revenue, the Borgata performed exceptionally well, signaling the region’s ongoing recovery. Continued innovations by operators guarantee that New Jersey venues will retain their popularity and continue to excel.

Most Metrics Saw Sustained Growth

New Jersey’s gambling industry maintains its upward trajectory, recording a 5.3% revenue increase in July for a total of $506 million. The Borgata, Atlantic City’s leading casino, retained its outstanding performance, bringing in over $127 million across its land-based and online offerings. The sum marks an all-time high for the establishment, highlighting its immense popularity.

Despite Borgata’s stellar performance, New Jersey’s land-based venues recorded an overall 3% year-on-year drop, settling at just under $290 million. However, substantial improvements in other verticals offset this decrease, making the past July the most profitable in over a decade. Lloyd Levenson Institute at Stockton University director Jane Bokunewicz noted that the dip was not a cause for concern.

As is the nature of the gaming industry, there are always fluctuations in the monthly revenues, and this 3% decline does not appear to be part of a lasting trend.

Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University

Internet betting revenues reached $155 million for an impressive 13.5% year-on-year increase. Despite these results, the online-only Caesars Entertainment Interactive NJ recorded a revenue decrease of almost 22%, settling at $8.5 million. These results indicate that the mixed model adopted by most high-profile operators may better suit local preferences.

Innovation Remains Paramount for Success

Outside the Borgata, New Jersey’s other high-profile casinos recorded mixed results. Hard Rock, Golden Nugget, and Bally’s saw moderate revenue increases, but most other brands like Tropicana, Caesars, and Harrah’s performed worse compared to July 2022, contributing to the 3% decline. Next month will showcase whether these results are an anomaly or the beginning of a trend.

As New Jersey’s gambling sector exits the post-pandemic recovery period, operators increasingly seek new ways to stand out amidst the competition and attract customers in person and online. These efforts explain the significant rise of high-profile partnerships with leading suppliers, breathing new life into the state’s gambling sector. 

As the industry evolves, it’s becoming increasingly clear that a well-balanced approach combining traditional casino offerings with innovative online platforms will be essential for sustained growth. New Jersey’s gambling sector continues to be a model for other states, demonstrating its ability to adapt to changing trends and consumer demands to achieve sustained growth and lasting success.