NJ Casino Revenue Up 8% to $235.8M in SeptemberOctober 13, 2017 9:24 am
Atlantic City’s seven casinos generated $235.8 million in revenue last month, representing an 8% improvement compared to the $218.4 million collected in September of 2016. Furthermore, over half the state’s casinos reported their best September for more than a decade, and as Michael Clay, administrator of the Financial Investigations Unit with the state Department of Gaming Enforcement, explains:
“The Atlantic City casino industry revenue results for September continue the 2017 trend of overall stability and individual property growth. These casino gaming results provide a strong foundation for the anticipated expansion of Atlantic City’s hospitality and gaming amenities in 2018.”
In September, leading the way in terms of growth was the Golden Nugget up 14.1% to $24.6 million, followed by the Tropicana up 13.7% to $33.2 million, and then the Borgata up by 9.6% to $74.2 million. Also posting gains was Harrah’s up 8.1% to $31.3 million, and Resorts up 5.4% to $17.8 million. On the flip side, Caesars posted a slight 0.1% year-over-year decrease to $29.8 million, while Bally’s, too, saw its business contract by 1.7% to $17.8 million.
New Jersey’s casino market has now generated $2 billion for the first nine months of the year, marking a more than 9% improvement versus the same period of time in 2016.
Helping the Garden State achieve such impressive statistics is its online gambling industry, which since being launched in 2013 has grown to account for more than 10% of all casino revenues produced in New Jersey. September was no exception, either, with the $20.4 million in online gambling revenue up by 26.9% compared to last September, and representing seven consecutive month that revenues have topped $20 million.
Helping to propel New Jersey’s iGaming market forwards was its online casino segment, whose revenue increased by 33% to $18.5 million in September. Poker, on the other hand, saw its business fall by 12.5% to $1.9 million, with that amount being its second-worst result to date for 2017, and the third time this year that poker revenue hs fallen below $2 million.
Leading the way in terms of overall online gambling revenues in September was the Golden Nugget ($5.7m), followed by Borgata ($4.2m), Resorts AC ($3.6m), Caesars ($3.4m) and Tropicana ($3.4m). Commenting on AC’s impressive online results, gaming analyst Steve Ruddock, said:
“The bottom line is that legal online gambling has become an incredibly competitive market with many winners, and that has undoubtedly been a boon for New Jersey.”