ATLANTIC CITY (AP) — New Jersey’s booming Internet gambling market continues to break records. But the amount of money won by in-person gamblers at most Atlantic City casinos is lower than it was before the coronavirus pandemic.
Casinos and their online divisions won more than $197 million from online casino games in March, setting a new monthly record, according to figures released Tuesday by the New Jersey Division of Gaming Enforcement.
And while it wasn’t a record, nearly $1.33 billion worth of bets were placed in March on sports betting leveraging the March Madness college basketball tournament. This is the fourth highest amount since sports betting became legal in 2018 following a U.S. Supreme Court ruling in a case brought by New Jersey.
Including in-person casino winnings, internet gambling, and sports betting revenue, casinos, their online partners, and racetracks that accept sports wagering had more than $526 million in revenue in March, starting in March 2023. It increased by 8.1%.
But the amount of money won from face-to-face gamblers, a key metric for casinos, continued to struggle. The nine casinos collectively won $239 million from in-person gamblers, an increase of nearly 5% year-over-year and slightly more than the total won by all nine casinos in March 2019, before the pandemic hit. But only two of the nine casinos won individually. Last month, we met more in person than before the coronavirus.
Jane Bochnewicz, director of Stockton University’s Lloyd Levenson Institute, which studies Atlantic City’s gambling market, said total gambling revenue in 2024 is “off to a solid start” in the first three months of this year and is up from a year earlier. It was said that the increase was 11% compared to the previous year. Same 3 months as last year.
Casinos value in-person winnings the most because they get to keep all of that money. In contrast, money won through internet gambling or sports betting must be shared with outside parties.
Borgata earned $56.5 million in individual competition in March, an 8.1% decrease from a year earlier. Hard Rock earned him $44.3 million, an 11% increase. Ocean earned $40.6 million, an increase of 17.6%. Harrah’s received $21 million, an increase of 2%, and Tropicana received $19.8 million, an increase of 2.5%.
Caesars earned $18.5 million individually, an increase of nearly 8%. Golden Nugget earned $13.6 million, an 11.4% increase. Resorts gained nearly 6% to $13.4 million, while Bally’s gained 11.2% to $11.7 million.
Adding internet and sports betting revenue, Borgata brought in $106.6 million, down 6.1% year over year. Golden Nugget earned $70.6 million, an increase of 28.2%. Hard Rock earned $58.3 million, an increase of 17.2%. Ocean earned him nearly $48 million, an increase of more than 21%, and Tropicana earned him $36 million, an increase of 11.5%.
Harrah’s earned $22.2 million, an 8% increase. Bally’s earned $20.9 million, an increase of 20.6%. Caesars earned $18.7 million, an increase of 10.2%, and Resorts earned $13.6 million, an increase of 8.4%.
The casino’s online arm, Resorts Digital, took in $66.4 million, down 11%, and Caesars Interactive in New Jersey took in $6.4 million, down 23%.
Casinos and racetracks kept just under $90 million in sports betting revenue after paying winning tickets and other expenses.
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