July was another positive month for New Jersey’s gambling industry with Atlantic City casino revenue and statewide sports betting revenue increasing compared to 2018.
Atlantic City casinos took in $323 million, an increase of 7.8 percent from July 2018. Though it breaks a long streak of monthly double digit increases in revenue, July was the first month that revenue was compared to a full nine-casino market in the city. The Hard Rock Atlantic City and Ocean Casino Resort both opened in late June 2018 and immediately invigorated the market.
The state’s total sports betting handle—which includes sports books at the Meadowlands Racetrack and Monmouth Park racetrack—was more than $251.3 million with more than $213 million bet through online or mobile apps.
Overall, sports betting generated $6.82 million in revenue for the casinos and $17.88 million statewide. Year to date, Atlantic City casinos and their online/mobile sports betting partners have generated more than $48 million in revenue. Statewide, sports betting has generated $127.5 million in revenue, according to the Press of Atlantic City.
Online gambling brought in more than $39 million, an increase of nearly 52 percent from last year. Among internet-only entities, Resorts Digital took in $10.5 million in July, up nearly 169 percent from a year ago, and Caesars Interactive-NJ won just over $5 million, up nearly 35 percent, according to the Associated Press.
July was an especially good month for the Borgata Hotel Casino & Spa in Atlantic City. The casino took in nearly $88 million in casino and sports betting revenue. That’s a record for the casino—which just opened a new $12 million sports betting facility—and a 15 percent increase over 2018.
The Ocean Casino Resort took in $20.1 million from gamblers in July, up 18 percent from 2018. The figures indicate the casino, now under new ownership, has reversed its fortunes after losing money for its first several months of operations.
Hard Rock Atlantic City took in $40.7 million in July, an increase of nearly 25 percent from its first month a year ago. The Golden Nugget won $34.5 million in July, up 17.4 percent and Resorts, at $18.1 million, was up 1.8%.
The numbers, however, spell continuing trouble for Caesars Entertainment casinos. The company through its merger with Eldorado Resorts now owns four Atlantic City casinos,
According to an AP analysis of figures released by the New Jersey Division of Gaming Enforcement; Tropicana won nearly $33 million, down 11 percent and Harrah’s Atlantic City won just under $30 million, down 5 percent from a year ago. Caesars, brought in just under $25 million, down 15.2 present and Bally’s, at $18.2 million, was down 11.3 percent.
So far this year, the casinos have taken in $1.84 billion, an increase of more than 18 percent from the same period last year.
