NJ Casino, Sportsbook, Online Earnings Down Slightly in October

ATLANTIC CITY, NJ (AP) — New Jersey’s casinos, racetracks that offer sports betting, and the online affiliates of both types of gaming businesses won over $445 million in October, down less than 1% from the same period last year .

Figures released Thursday by the New Jersey Division of Gaming Enforcement showed that the news was mixed for the most important metric for Atlantic City’s casino industry: The money won by personal players at the casinos went up in comparison down more than 7% year-on-year but had surpassed October 2019 levels before the coronavirus pandemic hit.

“Consistent with established seasonal patterns, total casino and brick-and-mortar revenue — slots, table games and poker — for Atlantic City’s casinos began to cool off in October,” said Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University. which examines Atlantic City’s gaming industry.

However, she also noted that personal gambling winnings in the first 10 months of this year ($2.35 billion) are 4.5% more than the amount won in the same 10 months in 2019.

The nine casinos won $220.6 million from personal players in October. This is the key metric for the industry, which is also supported by profits from sports betting and internet gamblers.

But casino executives say these alternative revenue streams are misleading as much of it has to be shared with third parties, including sportsbooks and technology providers.

They are particularly interested in getting back to pre-pandemic levels of business and surpassing what the casinos collectively achieved in October, although not all managed to do so.

Four casinos — Borgata, Hard Rock, Ocean, and Resorts — had higher personal earnings last month than in October 2019. The remaining five — Bally’s, Caesars, Golden Nugget, Harrah’s, and Tropicana — had less of that type of earnings.

In terms of personal earnings, Borgata gained $62.4 million, up 1.2% from a year ago; Hard Rock earned $38.9 million, up 4%; Ocean gained $28.3 million, down 6.1%, and Harrah’s gained $20.2 million, down more than 17% from a year ago.

Caesars won $17.5 million from personal players, also up more than 17%; Tropicana gained $17.3 million, down 18.3%; Resorts gained $12.9 million, down 11.6%; Golden Nugget gained just over $12 million, down 15.8%, and Bally’s gained $10.8 million, down 13.4%.

The Casino Association of New Jersey on Thursday released figures showing that Bally’s, Caesars and Tropicana are all down 20% from October 2019 levels in personal gambling winnings, while Golden Nugget is down nearly 19% and Harrah’s is down almost 16% has declined.

The Association, the trading group of Atlantic City casinos, also found that only three casinos — Hard Rock, Borgata, and Ocean — have won more from personal players in the first 10 months of this year than they did in the first 10 months of 2019.

When Internet gambling and sports betting revenues are added in, Borgata won nearly $113 million in October, up 4% from a year ago; Golden Nugget won $50.3 million, up 3%; Hard Rock gained $44.1 million, down half a percent; and Ocean won $31.5 million, down 2%.

Tropicana gained $25.3 million, down 18.7%; Harrah’s gained $20.3 million, down 16.4%; Caesars gained just over $18 million, down 17.5%; Bally’s gained 15.5 million%, up 20%, and Resorts gained nearly $13 million, down 11.5%.

Internet gambling brought in $147.1 million in October, up almost 16% year-on-year. Among pure-play internet companies, Resorts Digital gained $56.5 million, up 25%, and Caesars Interactive NJ nearly $9.2 million, up 2.6%.

Sportsbook has surpassed $1 billion in total stakes for the seventh time. Of that amount, nearly $78 million was retained as revenue by casinos and racetracks after they paid off winning bets and other expenses.

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Follow Wayne Parry on Twitter at twitter.com/WayneParryAC



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