New Jersey Casinos Up 4.3% to $229M in May

New Jersey’s casino industry generated revenue of $229 million in May, marking a 4.3% improvement over the same month in 2016. Back then, however, the Trump Taj Mahal was still operating, and if the now shuttered casino is removed from the figure then the Garden State would actually have noted a 12% increase in revenue overall.
Commenting on the positive result, Matt Levinson, chairman of the new Jersey Casino Control Commission, stated that it represented a “great start to the summer”, and that all the events taking place in Atlantic City over the next few months should help to lift the industry further. Also expressing his optimism of the state’s gambling market going forward was David Rebuck, director of the Gaming Enforcement division, who added:
“With a solid performance to date and now on the cusp of the busy summer season, the Atlantic City casino industry seems well positioned to capitalize on these positive trends.”
Leading New Jersey’s casinos in terms of revenue last month was the Borgata, with business up by 10.6% to $71.8 million versus May last year, followed by the Tropicana up 21.5% to $32.8 million, and Harrah’s, which noted a slight 0.2% gain at $29.5 million. In the meantime, Caesars reported the highest growth, with business higher by 23.6% to $29.4 million, while the Golden Nugget was up by 17% to $24.5 million, and finally the Resorts was higher by 9.8% at $15.3 million.
In May, New Jersey’s online gambling industry also continued to surge, with revenue soaring by 27% to $21 million, representing three straight months in which gross revenue has exceeded $20 million. Furthermore, May’s result was only slightly below the record internet gambling revenue figure set in March of $21.7 million. As a result, New Jersey’s online gambling market has now contributed over $100 million towards state coffers, and as Robert DellaFave, senior analyst for PlayNJ.com, explains:
“Even naysayers cannot deny the impact of New Jersey online gambling, which has now contributed more than $100 million to state coffers. New Jersey’s online gambling industry may be the state’s only new revenue stream to both generate more than $100 million in tax dollars and to do it without placing a heavy burden on citizens.”