The headline that GGR is up almost 25 percent in New Jersey reads well. However, not everything is as it appears.<\/p>\n
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The financial filing from the Division of Gaming Enforcement (DGE) shows that January was a cold month for Atlantic City casinos’ land-based operations. Borgata, the top revenue earner, saw its win decrease six percent to $53.6 million.<\/p>\n<\/div>\n
Bally’s fell five percent, Harrah’s 8.6 percent, and Golden Nugget 9.6 percent. The biggest loser was Caesars, which saw GGR plummet 21.3 percent to $17.1 million, a loss of more than $4.6 million.<\/p>\n
Only Resorts recorded a land-based gaming revenue win \u2013 up 8.8 percent to $12.6 million.<\/p>\n
The total land-based revenue increase of course comes from the introductions of Hard Rock and Ocean Resort. The Boardwalk properties respectively generated $15.5 million and $12.3 million in casino win.<\/p>\n
The addition of sports betting \u2013 which also wasn’t in operation in January 2018 but was last month \u2013 delivered an additional $9.7 million to Atlantic City casinos. Sportsbooks at Meadowlands ($7 million) and Monmouth Park ($2 million) helped the overall New Jersey gaming revenue picture.<\/p>\n
Sports Betting Expansion<\/b><\/h2>\n
New Jersey is one of the seven states that has joined Nevada in allowing full-scale sports betting. And handle \u2013 aka total bets placed \u2013 continues to grow in the Garden State.<\/p>\n
Oddsmakers printed $385.28 million worth of ticket slips last month, the state’s all-time best since the activity went live last June.\u00a0Resorts and its mobile partner DraftKings reported the largest sports betting win, with revenue coming in at nearly $6.9 million. Ocean Resort’s William Hill sportsbook was next at $1.2 million.<\/strong><\/p>\nAll nine Atlantic City casinos have land-based sportsbooks<\/a>, as does the Monmouth and Meadowlands horse racetracks. Numerous mobile betting platforms are additionally up and running.<\/p>\nThe $18.77 million win comes before New Jersey sportsbooks suffered a loss during Super Bowl 53 earlier this month. The DGE said oddsmakers took $34.89 million in bets, but paid out $39.46 million after heavy action on the winning New England Patriots.<\/p>\n
DraftKings spun the statewide loss by saying, “If our customers are winning, we’re winning.”<\/p>\n","protected":false},"excerpt":{"rendered":"
New Jersey gaming revenue jumped nearly 25 percent in January. Atlantic City operations, online casinos, and sports betting collectively won more than $229.6 million. Land-based gross gaming revenue (GGR) in Atlantic City totaled $177.2 million, a 9.2 percent increase compared to the same month in 2018. Internet casinos won $33.6 million, a 53 percent surge, […]<\/p>\n","protected":false},"author":25,"featured_media":98366,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
New Jersey Gaming Revenue Soars 25 Percent, Atlantic City Struggles<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n