New Jersey online gaming revenue up 123%, softens overall decline in June

T

he New Jersey Division of Gaming Enforcement reported Tuesday that the nine casinos and two horse tracks that offer sports betting won $97.5 million in June, a decline of 65.6% from a year earlier, and virtually the same percentage decline that they posted in May, when revenue was down 65.4% from a year earlier. All three full months of casino closures — April, May, June — resulted in total revenue declines of more than 65%.

The fall was softened by online gaming revenue, which continued to grow in the final month of the casino shutdown, increasing more than 123% in June. Online casino revenue was $84.9 million last month, compared with $38.1 million from online gaming in June 2019. June was the third consecutive month during which revenue from online gaming increased by more than 100% over the same period in 2019. Through June, online gaming revenue has almost doubled compared to the first six months of 2019, generating more than $422.7 million, as reported by The Press of Atlantic City.

Most of the casinos reopened in the first week of July except for the Borgata, which will reopen on July 26. With the casinos remaining shut since March 16, June’s winnings came online and also from extremely limited sports betting, including European soccer, Asian baseball and mixed martial arts matches — $12.6 million, up from $9.7 million a year ago. Even with the limited betting menu, gamblers were able to make over $165 million worth of sports wagers in June.

“June was the last full month of casino closures, and the figures reflect the historic business disruption across the region and beyond,” said James Plousis, chairman of the New Jersey Casino Control Commission, the Associated Press reports. “Now that casinos have begun welcoming back visitors with appropriate limits, Atlantic City has started on the road to recovery.”

Golden Nugget won $29.2 million last month, down just over 1%. Caesars, which does not have its own sports betting operation, reported no revenue at all for the month, although Caesars Interactive-NJ, an internet-only entity, saw its revenue increase by 77% from a year ago, to almost $8.8 million.

Harrah’s listed a $2,109 loss due to sports betting. Resorts was another casino with no revenue, but its internet affiliate, Resorts Digital, won over $21 million in June, up 119% from a year earlier.

Bally’s won just $39,000 in sports bets, down 99.8% from a year ago; Ocean casino won $1.7 million, down almost 92%; Hard Rock won $6.2 million, down almost 81%; Tropicana won $6 million, down almost 80%, and the Borgata won $17.7 million, down almost 75% from a year ago.

For the first half of this year, the casinos and two tracks — the Meadowlands and Monmouth Park — have won just over $1 billion through casino games and sports betting, a decline of 35.4% from the same period last year. That figure does not include revenue from horse racing.

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