Growth of Online Gambling Revenue in NJ While AC Casino Revenue Drops

Atlantic City CasinosIn July 2017, there is a decline of 2.7 percent in the combined casino revenue in Atlantic City when compared to the same period last year.

Even after the seven operational casinos in the city recorded a marginal revenue increase, there was a decline in the combined casino revenue. It was affirmed in the latest report released by New Jersey Division of Gaming Enforcement.

There has been a jump of 3.9% in the gross gaming revenue from the casinos, and it includes 18.5% rise in internet gaming.

The Chairman of Casino Control Commission, Matthew Levinson, said that it is an uptrend growth and it would continue to rise in the coming months. He pointed out July 2017 had one less weekend as compared to July last year.

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Resort Casino & Hotel was the biggest gainer last month which posted an increase of 14.4% to reach a figure of $20.4 million. It is followed by Tropicana with a 13% revenue increase to hit $37.5 million. Harrah’s, Bally’s and Caesar’s are three other casinos that have registered modest growth in this period.

The casino revenue for Bally’s was $22.8 million for July 2017, and it registered an increase of 5.3% in one year. Caesars also registered a growth of 4.8% to reach a figure of $32.7 million whereas Harrah’s registered a growth of 7% to enter the value of $36.6 million.

Borgata Casino retained the top slot regarding gaming revenue with a figure of $76.3 million. However, it registered a decline of $80.3 million as compared to the income during the same period last year. Golden Nugget reached a revenue figure of $20.8 million, but there was a small drop of 2.6% in its revenue as compared to the previous year.

Caesars Interactive-NJ declined 5.4% to reach $3.2 million, but Resorts Digital increased by a robust 22.9% to reach $3.8 million within the internet gaming-only operations. Brick-and-mortar brands; PokerStars and Resorts Casino & Hotel are the partners of Resorts Digital.

Regarding gross revenue, Golden Nugget Atlantic City was on top of the list with a figure of $6.25 million. It has now become the 1st ever internet gaming operator to cross a revenue of $125 from just online casino games.

The total online game revenue for July 2017 was $20.6 million. It helped the casino industry to surpass the critical milestone of $600 million regarding lifetime earnings. The month of July also became the 5th month for New Jersey’s online casinos recording a gross monthly game revenue worth $20 million. Similarly, the casino industry also generated a tax revenue worth $108.1 million since 2013 when casino gaming was legalized.

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