New Jersey casinos continue to show improvement with nine-figure results
By Bob Garcia
Atlantic City’s casinos are rebounding from another massive blow from COVID-19
The massive profits keep coming in for the casinos located in New Jersey, and it looks like they are closing a more than fruitful first semester. It has now been four consecutive months where operators in Atlantic City’s gaming market are experiencing profits that have hardly ever been seen before.
According to data released by the New Jersey Division of Gaming Enforcement, gaming-related businesses collectively generated a total of $392.8 million in gross gaming revenue last month alone. Compared to the same month last year, a year-on-year increase of 302.7% can be noted, a percentage that cannot be overlooked and definitely brings a lot of relief to casinos that once went through a difficult situation due to the COVID-19 pandemic.
Still, it should be clear that for this same period, the entire market was completely closed last year, which is a disadvantage if you want to draw a viable and reliable comparison. Only online options were available last year, and if it came to sports betting, players didn’t really have a full list of games to bet on as many events were canceled or postponed.
Garden State casinos, both online and land-based, are clearly on an upward trend since February, when $288.3 million in winnings was reported. Since that time, the market has been on a steady upward climb; $359.3 million, $352.2 million, and $374.2 million were reported for March, April and May, respectively. Online casinos earned about 25% of June’s total gaming revenue with $107.1 million. Since reaching a record high of $113.7 million in Internet gaming in March, the virtual realm of the gaming market has remained in the low 9-figure range.