NJ Casinos Brace for a Strong Summer Season despite Slight April Dip

The Associated Press published information about the performance of the New Jersey gambling industry in April. While the total revenue increased, traditional casinos experienced a slight decline.

In April, operators in the Garden State reported total gambling revenue of $462.7 million. This figure represents an increase of 9.5%. However, the state also reported that the revenues of brick-and-mortar casinos experienced a slight decline.

For reference, traditional casinos recorded revenue of $231.4 million in April, which represents a 1.6% dip. The local operators do not seem concerned about the decline and instead believe that their revenues are stable, attesting to the health of the Atlantic City gambling industry.

In total, the digital operators and retail operators’ digital partners earned $159 million, translating to a 16% growth for the online vertical. Sportsbooks, on the other hand, recorded a handle of $834 and earned $72.3 million – a year-on-year growth of 43.6%.

Casinos Struggled to Surpass Their April 2019 Figures

The top casino in terms of retail revenue was Borgata with $58.1 million, followed by Hard Rock with $38.8 million and Ocean with $34.2 million. In addition to being the top three properties in terms of on-premise gambling, the three properties were the only ones to surpass their pre-pandemic revenue levels.

They were followed by Harrah’s Casino with $21.8 million, Caesars with $19.6 million and Tropicana closely behind with $19.5 million. Bally’s followed with $13.8 million, with Golden Nugget and Resorts behind it with $13.1 million and $12.4 million respectively.

Many of these venues secured additional revenues thanks to their digital operations.

Speaking of digital gaming, Resorts Digital secured $61.9 million in revenue representing a spectacular 69% year-on-year increase. Caesars Interactive, on the other hand, won $8.7 million, representing a slight decrease.

NJ Prepares for a Strong Summer Season

As noted by the chair of the New Jersey Casino Control Commission, James Plousis, April 2023 was still the second-strongest April in 11 years, despite the decrease in retail revenue. He also pointed out that iGaming in the state continues to be strong, further bolstering the total revenue figures.

Plousis concluded that New Jersey might be in for a strong summer season.

Jane Bokunewicz, faculty director of the Lloyd Levenson Institute at Stockton University, also addressed the expectations for summer 2023. She said that optimistic forecasts say project gross gaming revenue that will be sufficient to make up for the high operating costs in the state.