International edition
September 30, 2020

Atlantic City's casinos gaming revenue dropped over 23% year-on-year

New Jersey sports betting handle sees monthly growth of 91% in July

New Jersey sports betting handle sees monthly growth of 91% in July
Sports betting revenue was $29.6 million in July, an increase of 65.2% year-over-year. Online gaming revenue was $87.5 million, representing a 122.5% increase over the same period last year.
United States | 08/13/2020

New Jersey’s sportsbooks took $315.1 million in bets last month, up 25.4% year-over-year. Atlantic City reported nearly $248.7 million in total gaming revenue, a significant decrease from July 2019's $323.3 million. The numbers were impacted by Borgata's decision to open July 23, and the state's prohibitions against indoor dining, smoking and alcoholic beverage service.

W

ith major sporting events returning toward the end of July, New Jersey’s sportsbooks took $315.1 million in bets last month, up 91% over June’s total and up 25.4% from the same month of 2019.

Sports betting revenue was $29.6 million, according to figures released Wednesday by the New Jersey Division of Gaming Enforcement. That’s up 65.2% over last July, which is usually one of the most quiet sports betting months.

Online gaming revenue for the entire market was $87.5 million, representing a 122.5% increase over the same period last year.

As for Atlantic City's casinos, total gaming revenue was down more than 23% compared to last year. They reported nearly $248.7 million in total gaming revenue last month, a significant decrease from July 2019's $323.3 million. Casino win was $147.4 million in July, down from $277 million reported during the same month in 2019.

The negative numbers were driven by the market's highest-performing casino, Borgata being operational for only nine days, and the state's prohibitions against indoor dining, smoking and alcoholic beverage service, as reported by The Press of Atlantic City.

After a nearly four-month shut down due to the COVID-19, Atlantic City's nine casinos were permitted to reopen July 2. Borgata Hotel Casino & Spa elected to forego reopening at that time because of the state's restrictions and, instead, resumed activity on July 23 after reorganizing its dining options.

Casino Control Commission Chairman James Plousis said 2019 and 2020 were "not reasonably comparable" and also noted that COVID-19 related travel restrictions affected July's results. Still, Plousis remained optimistic about the Atlantic City market. "Visitors are again enjoying the playground by the sea that is Atlantic City," he said in a statement Wednesday. "While public health remains a concern, the tourism and gaming sector has started on the road to recovery. I know that Atlantic City is resilient and, given time, it will rebound."

Ocean Casino Resort was the only property to report an increase in casino win. Ocean’s $23.6 million casino win was a 23.1% increase over the $19.2 million reported last year and good enough for second in the market, behind Hard Rock Hotel & Casino Atlantic City’s $24.6 million. Last July, Ocean’s reported casino win placed it seventh in the market. The property also reported gains in online gaming and sports wagering revenue, resulting in an increase of 30.3% in total gaming revenue ($26.3 million) for the month.

Golden Nugget Atlantic City finished first in the market in total gaming revenue in July driven by its online gaming offerings. Golden Nugget reported just under $40.4 million in total gaming revenue — a 16.9% jump over last year — with internet gaming accounting for $31.5 million.

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