Revenue from New Jersey’s land-based casinos bounced back in October to be more in line with the constant improvements seen in igaming and sports betting operations.
Data from the New Jersey Division of Gaming Enforcement revealed that total gaming revenue reported by casinos, racetracks, and their online partners was $487.1m for October, a 9.3 per cent increase in comparison to the same month the previous year (October 2022: $445.7m).
For year-to-date, total gaming revenue stands at $4.77bn, a 10.6 per cent improvement year-over-year (2022: $4.32bn).
Split per vertical, land-based casino revenue bounced back after a negative YoY comparison in September, rising by 3.4 per cent YoY to $228.1m (2022: $220.6m). Igaming revenue improved by 13.3 per cent to $166.8m (2022: $147.2m). Meanwhile, sports betting revenue rose by 18.4 per cent to $92.3m (2022: $77.9m).
For the YTD, land-based casino revenue stands at $2.4bn, up 1.9 per cent YoY (2022: $2.36bn). Igamign revenue stands at $1.57bn, a 15.1 per cent uptick (2022: $1.37bn). Sports betting stands at $801.3m, a 34.7 per cent increase (2022: $594.8m).
Taking a closer look at land-based casinos, the YoY improvement was propped up by gains in table games, revenue from which rose by 19.7 per cent in October to $65.1m (2022: $54.4m). Slot machine revenue, while still being the main contributor, dropped by 1.9 per cent to $163m (2022: $166.2m).
Per land-based operator, Borgata led the way with $56.8m but its revenue declined by 8.9 per cent YoY to (2022: $62.5m). Borgata was followed by Ocean Casino with $43.4m and the biggest YoY increase during the month at 53.3 per cent (2022: $28.3m), and Hard Rock with $41.2m (2022: $39m).
No other casino made more than $18m during October, with four casinos undergoing YoY revenue declines. Caesars dropped the most by 18 per cent to $14.4m (2022: $17.6m), followed by Harrah’s which fell by 11.9 per cent to $17.8m (2022: $20.2m), the previously mentioned Borgata, and Tropicana decreasing by 5.6 per cent to $16.4m (2022: $17.4m).
Per igaming operator, Golden Nugget was top with $49.4m (2022: $38.4m), followed by Resorts Digital with $46m (2022: $39.3m) and Borgata with $35.6m, but this was a 13.2 per cent decline in comparison to the previous year (2022: $41m).
No other igaming operator made more than $9.5m in revenue during October, and one other operator underwent a YoY drop, with Caesars Interactive NJ falling by 34.2 per cent to $6m (2022: $9.2m).
Taking a glance at sports betting operations, only two operators had revenue above $15m. Meadowlands/FanDuel/PointsBet led the way convincingly with $60.2m (2022: $45.4m), followed by Resorts Digital/DraftKings with $15.3m (2022: $17.2m). Borgata/BetMGM was the next closest competitor with $7.8m (2022: $9.5m).