{"id":4390,"date":"2023-03-18T05:13:57","date_gmt":"2023-03-18T05:13:57","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2023\/03\/18\/new-jersey-gaming-revenue-sees-10-4-increase-online-gaming-driving-growth\/"},"modified":"2023-03-18T05:13:57","modified_gmt":"2023-03-18T05:13:57","slug":"new-jersey-gaming-revenue-sees-10-4-increase-online-gaming-driving-growth","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2023\/03\/18\/new-jersey-gaming-revenue-sees-10-4-increase-online-gaming-driving-growth\/","title":{"rendered":"New Jersey Gaming Revenue Sees 10.4% Increase, Online Gaming Driving Growth"},"content":{"rendered":"
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On March 16th, the New Jersey Division of Gaming Enforcement released its report on February\u2019s gaming revenue, showing a 10.4% increase in revenue for casinos, horse tracks that accept sports bets, and online partners of gambling properties. Although in-person gaming has not seen a significant increase, this is likely due to the impact of the COVID-19 pandemic on the industry.\n<\/p>\n

While the results are positive, the figures may not be entirely accurate since a significant portion of revenue came from online betting. Online betting winnings must be shared with partners, such as sports books and tech platforms, reducing the profit for casinos and tracks. On-site gambling brought in $215 million in revenue, a slight increase compared to last year, which saw a 1.2% decrease in revenue. However, online gambling is expanding, with $143.5 million more revenue generated than in the previous year.<\/p>\n

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According to Jane Bokunewicz, Director of the Lloyd Levenson Institute at Stockton University, the addition of two new casino resorts to the established seven has disrupted market share in Atlantic City. The local market pie has grown, but the way it is divided has changed, favoring the newest entrants to the market.\n<\/p>\n

Casino Results<\/h2>\n

Bally\u2019s saw a 14.3% increase in land-based casino revenue compared to the previous year, earning $12.2 million. Borgata\u2019s revenue was $57.4 million, an 8.8% increase from 2022, while Caesars earned over $19 million, up 1.4%. Hard Rock had a small increase of almost 1% in revenue, earning $37.5 million. Harrah\u2019s had a great month, earning 8.1% more than in 2022, with revenue of $21.3 million.\n<\/p>\n

Golden Nugget saw a decrease of 14%, with revenue of $11.1 million. Ocean\u2019s revenue decreased by 11.5%, with earnings worth $26.2 million. Resorts had a smaller decrease of 2%, with winnings of $12.6 million, and Tropicana\u2019s losses were less significant, down less than 1%, with a revenue of $17.2 million.\n<\/p>\n

Online Gambling Results<\/h2>\n

Regarding online gambling, Bally\u2019s saw a 49% increase in revenue, earning $18.1 million, and Borgata was up 7.4%, with revenue of $101.2 million. Caesars saw almost the same results, improving by less than 1%, with revenue of $19.2 million. Golden Nugget\u2019s results were almost the same as last year\u2019s, with earnings of $47.8 million, and Hard Rock had a slight decrease of nearly 1%, with revenue of $44.4 million. Harrah\u2019s increased 7.4%, and its revenue was approximately $21 million. Ocean\u2019s results were 2.2% worse than in 2022, with revenue of $30.1 million. Resorts were down 5.4%, with revenue of $12.6 million, and Tropicana had a slight increase of half a percent, with revenue of $26.2 million.\n<\/p>\n

Resorts Digital, an online-only casino, saw a massive increase of more than 25%, with revenue of $48.2 million. Caesars Interactive NJ, also an online-only casino, saw a decrease of 17.5%, with revenue of $8.3 million.\n<\/p>\n

The post New Jersey Gaming Revenue Sees 10.4% Increase, Online Gaming Driving Growth<\/a> appeared first on iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

On March 16th, the New Jersey Division of Gaming Enforcement released its report on February\u2019s gaming revenue, showing a 10.4% increase in revenue for casinos, horse tracks that accept sports bets, and online partners of gambling properties. Although in-person gaming has not seen a significant increase, this is likely due to the impact of the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-4390","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/4390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=4390"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/4390\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=4390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=4390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=4390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}