New Jersey Casinos Down 1.6% to $212M in April

For the first time this year, New Jersey’s casino industry reported a slide in its year-on-year revenues, with business falling by 1.6% to $212 million in April, compared to the $215 million that was collected in the same month last year. Once the Trump Taj Mahal which shut in October of 2016 is excluded from the numbers, however, the state’s casinos actually noted a 4% improvement in their overall revenues.
The $212 million collected includes online gambling, which last month contributed a further $20.8 million to the state’s land-based revenue of $190.9 million. That amount compares favorably to the $17 million that was taken in April 2016, representing an impressive 22.6% rise in business. As a result, New Jersey’s online gambling market has generated $80.1 million for the first four months of the year, marking a 29.5% year-on-year increase, while total revenues including land-based casinos is also higher by 3.8%. Commenting on the overall results, Casino Control Commissioner, Matthew Levinson, explained:
“The win from table games declined last month, in large part because players were luckier this April than in last April. Swings like that have to be expected. It is, after all, gambling. One thing that is particularly heartening is that for the first four months of the year, revenue from slots, tables and internet each increased.”
Leading New Jersey’s internet gambling market in April was the Golden Nugget with $5.3 million in revenue, up by 63% from last April, followed by the Tropicana with $3.9 million (+29%), Caesars Interactive with $3.5 million (+11%), Resorts Digital with $3.7 million (+8.5%), and Borgata with $4.2 million (+6%).
Breaking April’s figures down further, online casinos revenue grew by 31% to $18.85 million, representing a new high for the state, and the first time that the segment has reached a 90% share of the overall iGambling market. Online poker, on the other hand, saw its business fall by 24% to $1.97 million, with WSOP/888, Party/Borgata, and Resorts/PokerStars posting some of their more lackluster results to date.