ATLANTIC CITY, NJ (AP) — New Jersey casinos, racetracks that offer sports betting and online partners of both types of gambling outlets won more than $445 million in October, down less than 1% compared to the same period of the previous year.
Data released Thursday by New Jersey’s Division of Gaming Enforcement showed news for the most important metric for Atlantic City’s casino industry was mixed: Money won by in-person gamblers at casinos fell more than 7% from a year earlier, but had surpassed its October 2019 level, before the coronavirus pandemic hit.
“In keeping with established seasonal patterns, total and physical casino revenue — slots, table games and poker — for Atlantic City casinos began to cool in October,” said Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City gambling industry.
But it also noted that in-person gambling winnings for the first 10 months of this year ($2.35 billion) are 4.5% higher than the amount won in the same 10 months in 2019.
The nine casinos won $220.6 million from in-person gamblers in October. This is the key metric for the industry, which is also aided by the winnings of 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 especially concerned about returning to and exceeding pre-pandemic business levels, something casinos collectively achieved in October, although not all of them have succeeded.
Four casinos – Borgata, Hard Rock, Ocean and Resorts – had higher in-person revenue last month than in October 2019. The remaining five – Bally’s, Caesars, Golden Nugget, Harrah’s and Tropicana – had less of this type of revenue .
In terms of in-person revenue, Borgata won $62.4 million, up 1.2% from a year ago; Hard Rock won $38.9 million, up 4%; Ocean won $28.3 million, down 6.1%, and Harrah’s won $20.2 million, down more than 17% from a year earlier.
Caesars won $17.5 million from in-person gamblers, also down more than 17%; Tropicana won $17.3 million, down 18.3%; Resorts won $12.9 million, down 11.6%; Golden Nugget won just over $12 million, down 15.8%, and Bally’s won $10.8 million, down 13.4%.
The Casino Association of New Jersey released data Thursday showing Bally’s, Caesars and Tropicana are all down 20% from their October 2019 levels in in-person gambling winnings, while Golden Nugget is down nearly 19% and Harrah’s was down nearly 16%.
The association, which is the trade group for Atlantic City casinos, also noted that just three casinos — Hard Rock, Borgata and Ocean — won more from in-person gamblers in the first 10 months of this year. compared to the first 10 months. 10 months of 2019.
When you add in revenue from Internet gambling and sports betting, Borgata won nearly $113 million in October, up 4% from a year ago; Golden Nugget won $50.3 million, up 3%; Hard Rock won $44.1 million, down by half a percentage point; and Ocean won $31.5 million, down 2%.
Tropicana won $25.3 million, down 18.7%; Harrah’s won $20.3 million, down 16.4%; Caesars won just over $18 million, down 17.5%; Bally’s won %15.5 million, up 20%, and Resorts won nearly $13 million, down 11.5%.
Internet gambling brought in $147.1 million in October, up nearly 16% from a year earlier. Among Internet-only entities, Resorts Digital won $56.5 million, up 25%, and Caesars Interactive NJ won nearly $9.2 million, up 2.6%.
Sports betting surpassed $1 billion in terms of total amount wagered for the seventh time. Of that amount, nearly $78 million was withheld as casino and racetrack revenue after paying for winning bets and other expenses.
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