New Jersey Gaming Revenue Rises Year-on-Year, but Land-Based Casino Revenue Falls

The New Jersey Division of Gaming Enforcement has released its gaming revenue figures for July 2024, revealing that year-on-year gaming revenues grew by almost 7.9 percent. Notably, growth was powered by the performance of iGaming verticals, as land-based casinos saw their revenues fall 6.2 percent year-on-year.

Atlantic City Casinos See Drop in Revenues

Land-based casino gaming revenue dropped from $289,976,769 in July 2023 to $272,328,267 in July 2024. More specifically, slot machine revenue dropped from $217,794,132 to $207,344,033, with table game revenues decreasing from $72,182,637 to $64,984,234.

Most casinos in New Jersey saw a year-on-year drop in revenues, with the biggest declines posted by Harrah’s Resort & Casino Atlantic City, Bally’s Atlantic City Hotel & Casino, and Caesars Atlantic City Hotel & Casino. All three venues saw a revenue drop above 19 percent, with Harrah’s showing the largest drop of more than 23 percent.

Aside from those three that led the chart with revenue drops, other NJ casinos incurred a more manageable drop in revenue. Tropicana Atlantic City posted the next-largest decline in revenues after the abovementioned three establishments, with a year-on-year drop of 4.2 percent. 

The brick-and-mortar casino that saw the highest revenues in NJ for the month, Borgata Hotel Casino & Spa, also posted a 3.3 percent drop in revenues, bringing in $75,972,123 in July 2024. 

Borgata’s income still accounted for 27.9 percent of the monthly revenues for land-based casinos in the Garden State.

Three casinos posted revenue increases in July, with Hard Rock Hotel & Casino Atlantic City growing year-on-year revenues by 3 percent. Meanwhile, Resorts Casino Hotel brought in 1.9 percent more casino revenues compared to 2023, and Golden Nugget Atlantic City Hotel, Casino & Marina revenues ticked up by 0.7 percent.  

Online Casino Gambling Makes a Big Jump

While land-based casino revenues fell in July, online casino gambling and sports betting revenue increases contributed to a total year-on-year revenue increase. Online casino revenues jumped from $155,165,055 in July 2023 to $195,395,847 in July 2024, marking nearly a 23 percent increase.

All online casino license holders in NJ posted for July growth in iGaming revenues. Tropicana recorded the largest increase, with year-on-year revenues increasing 226.2 percent.