New Jersey sports betting continues to rise year on year

ATLANTIC CITY, N.J. (AP) — Internet gambling revenue continues to soar in New Jersey, where online casinos are accounting for a growing share of the betting pie: Atlantic City’s casinos and their online partners won $182 million in internet bets in February.

Figures released Friday by the state Division of Gaming Enforcement show that sports betting also did well in a month that included the Super Bowl.

Those two more recent forms of gambling helped the casinos, racetracks that accept sports bets and their online partners take in over $461 million in February, an increase of 12% from February 2023.

But the news was not all good: Atlantic City’s nine casinos won $211.5 million from in-person gamblers, down 1.6% from a year earlier.

While the casinos collectively exceeded the $196 million they won from in-person gamblers in February 2019, before the COVID-19 pandemic hit, only three of the casinos individually won more in person this February than they did in February 2019.

“Remote gaming options continue to be critical for Atlantic City’s gaming operations, especially in the shoulder months when seasonal weather patterns are most likely to keep gamblers at home,” said Jane Bokunewicz. “Despite an extra day in the month, a wet and wintry February kept brick-and-mortar revenues for Atlantic City casinos modest.”

The casinos consider in-person gambling to be their core business. Money from internet gambling and sports betting must be shared with outside parties like Sports Betting Operators and technology platforms, and it is not solely for the casinos to keep.

With all three types of revenue combined, the Borgata won over $98 million, down 3.1% from a year earlier; Golden Nugget won $62.9 million, up over 31%; Hard Rock won $55 million, up 24%; Ocean won $37.6 million, up nearly 25%; and Tropicana won over $30 million, up 15%.

Bally’s won nearly $19 million, up nearly 5%; Harrah’s won $18.7 million, down 11%; Caesars won $16.2 million, down 15.5%; and Resorts won $12.1 million, down 4.3%

In terms of in-person revenue, Borgata won $53.6 million, down 6.7%; Hard Rock won $41.1 million, up 9.6%; Ocean won over $31 million, up over 18%; Harrah’s won $18.2 million, down 14.7%; and Tropicana won $16.6 million, down 3.1%.

Caesars won $16.4 million, down 13.7%; Resorts won $12.2 million, down 3.6%; Golden Nugget won $11.6 million, up 4:, and Bally’s won $10.6 million, down over 13%.

In terms of internet-only entities, Resorts Digital, the casino’s online arm, won $72.2 million, up nearly 50%, and Caesars Interactive Entertainment NJ won $5.5 million, down nearly 33%.

Over $1 billion in total sports bets were made in New Jersey in February. Of that total, $67.5 million was kept as revenue by the casinos, tracks and their partners after paying out winning bets and other expenses.

Source: Associated Press 

Preview Image: Shutterstock 

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