NJ Online Gambling Soars, While Traditional Casinos Lag
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Atlantic City, NJ – new Jersey’s online gambling industry continues its phenomenal growth, setting another record in november, even as many physical casinos struggle to regain thier pre-pandemic revenue levels. The november figures, released Monday by the New Jersey Division of Gaming Enforcement, paint a picture of a rapidly evolving gambling landscape.
Online gambling revenue surged past $214 million in November, narrowly surpassing the previous record of $213 million set in October. This remarkable achievement prompted James Plousis, chairman of the New Jersey Casino Control Commission, to comment, “The continuing success of online gaming and sports wagering has helped total gaming revenue achieve its best November monthly result in over a decade.”
Though, this success story isn’t universally shared. While the overall revenue is impressive, the picture is more nuanced for the brick-and-mortar casinos. Thay must share a important portion of online and sports betting profits with partners, meaning in-person gambling remains their core revenue driver.And that area has been less than stellar.
total in-person casino revenue for November reached $223.9 million,matching pre-pandemic levels. Yet, only three casinos – Hard Rock, Ocean, and Resorts – surpassed their November 2019 in-person revenue. This highlights the persistent challenges faced by many Atlantic City casinos in fully recovering from the pandemic’s impact.
The rise of online gambling in New Jersey has been a steady trend, accelerated by the pandemic’s forced closure of casinos for 3 1/2 months in 2020. Many gamblers who transitioned to online platforms during that time have continued to utilize them, contributing to the sustained growth of the digital sector. November’s online revenue represents a nearly 25% increase compared to the same month last year.
Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which analyzes the Atlantic City gambling industry, highlighted the importance of this achievement: “New Jersey’s internet gambling market exceeded $200 million for the third month in a row.” This consistent performance underscores the market’s robust and sustained growth.
Including online and sports betting revenue, the combined total for casinos, two horse tracks offering sports betting, and their partners reached $556 million in November – a 15.4% increase. This boost was partially attributed to the presence of two extra weekend days in November 2022 compared to 2023.
Individual casino performances varied widely. Borgata reported a combined $122.6 million in revenue (up over 25%),Resorts nearly $101 million (up nearly 28%),and Golden Nugget almost $77 million (up 26%). However, some casinos experienced declines, including Harrah’s (-4.4%), Tropicana (-7.3%), and Caesars (-7.4%).
The data clearly illustrates a bifurcated reality in Atlantic city’s gambling industry. While the online sector thrives,the traditional casinos face an ongoing struggle to fully recapture their pre-pandemic market share. This trend underscores the need for adaptation and innovation within the industry to navigate the changing preferences of gamblers.
Atlantic City Casinos Report Mixed November Results
Atlantic City’s casinos delivered a mixed performance in November, with varying fortunes across the gambling landscape. While some establishments celebrated substantial revenue increases, others grappled with declines, painting a complex picture of the region’s gaming industry.
In terms of in-person gambling revenue, the Borgata emerged as a top performer, boasting $57.5 million, an impressive 11.4% surge compared to the previous year. Hard Rock followed closely, reporting $44.3 million, a 7.1% increase. Ocean Casino Resort also saw positive growth, with revenue reaching $34 million, up 8.2%. Though, not all casinos shared this success. Harrah’s experienced a 5.6% downturn, generating $18.5 million, while Tropicana saw a 6.6% decrease, earning $16.7 million. Resorts Casino Hotel bucked the trend with a nearly 12% increase,reaching $13.9 million. The Golden Nugget also saw positive growth at 6.7%, totaling $11.7 million, while Bally’s reported a 10.3% decrease, earning $10.8 million.
Sports Betting Fuels Revenue Growth
The burgeoning sports betting market substantially contributed to the overall revenue figures. Nearly $119 million in revenue was generated from approximately $1.2 billion in wagers, highlighting the increasing importance of this sector in Atlantic City’s gaming economy.
The Meadowlands Racetrack, located just outside New York City, reported $50.5 million in sports betting revenue, a decrease of 12.3% year-over-year. This venue houses a FanDuel sportsbook.
resorts Casino Hotel,partnered with DraftKings for both retail and online operations,saw a remarkable surge in sports betting revenue,nearly doubling its earnings from the previous year to almost $38 million.
monmouth Park, situated near the Jersey Shore, also experienced a significant boost, with sports betting revenue reaching $2.5 million—a remarkable 163% increase compared to the previous year. This growth is largely attributed to the recent closure of Freehold Raceway, a competing track in the same county, which ceased its sports betting operations at the end of November.
the diverse performance of Atlantic city’s casinos in November underscores the dynamic nature of the gaming industry and the significant impact of sports betting on overall revenue.
NJ Casinos see Mixed Results as Online Gambling booms
Atlantic City casinos are experiencing a period of significant transformation, with online gambling experiencing explosive growth while traditional brick-and-mortar establishments face ongoing challenges. This article explores the latest figures, providing insight into the evolving landscape of the Jersey Shore’s gambling industry.
A Conversation with Casino Analyst, Dr. Emily Carter
Senior Editor, World-Today-News.com: Dr. Carter, New Jersey online gambling numbers continue to shatter records. What are your thoughts on this unprecedented growth?
Dr. Emily Carter: It’s truly remarkable. The November figures, exceeding $214 million, are a testament to the enduring popularity of online platforms. Factors like convenience, accessibility, and a wider variety of games contribute to this ongoing trend. The pandemic undoubtedly accelerated this shift,but online gambling’s popularity appears to be here to stay.
senior Editor: So, what about the traditional casinos? They seem to be struggling compared to their online counterparts.
Dr. Emily Carter: That’s a complex issue.While overall gaming revenue did see some solid increases, it’s true that many physical casinos haven’t fully recovered from the pandemic’s impact. Online platforms take a significant chunk of the revenue, leaving brick-and-mortar establishments needing to adapt and innovate to attract customers.
Senior Editor: How can traditional casinos remain competitive in this changing landscape?
Dr. Emily Carter:
They need to offer exceptional experiences that go beyond just gambling. This means investing in entertainment, dining, and hospitality to create a truly immersive destination. They should also explore ways to integrate online and offline experiences, perhaps through loyalty programs or promotions that bridge the gap.
Senior Editor: Looking ahead, what are your predictions for the future of the New Jersey casino industry?
Dr. Emily Carter: The future will likely be shaped by continued growth in online gaming and a metamorphosis of the traditional casino experience. Those establishments that embrace innovation and adapt to changing consumer preferences will be the ones to thrive in the years to come. It’s an exciting, albeit uncertain, time for the industry.
