The state of New Jersey is beaming after it raked in $198 Million in revenue for August. However, local casinos have continued to see a decline in revenue.
The New Jersey Division of Gaming Enforcement released data showing a 28% increase in revenue compared to last year. However, the in-person casinos only won $294 million from gamblers in August, showing a 4.9% growth from 2023 data. When adding horse race betting and sports wagering into the local casino equation, those figures exceed $555 million and represent a 4.4% increase from the previous year.
Only the Borgata, Hard Rock, and Ocean casinos won more from their in-person game rooms last month than they did in August 2019 before the pandemic.
Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, studies the local casino market in Atlantic City and said that the new data shows how important online gambling has become to the state’s bottom line. To further stress the importance of online gambling services in the state, Bokunewicz stated, “This important vertical for the casino industry has topped $190 million in four of the last eight months in a trend that is seeing off-property gaming activity, which includes online sports betting, contribute nearly half of Atlantic City operators’ total gross gaming revenue.”
How Many Casinos Are In New Jersey?
The state of New Jersey has 12 casinos and four racetracks. All domestic casinos are in Atlantic City and are regulated by the Casino Control Commission. New Jersey is one of the few states where online gambling is legal, as it offers casinos, sportsbooks, and poker gambling apps.
While 30 states have passed online sports betting laws, only six allow online casinos from state-licensed sites: Delaware, Michigan, Nevada, New Jersey, Pennsylvania, and West Virginia. While the state has acted to remove out-of-state online gambling services, players can still access numerous online casino sites from outside of the US.
What State Produces The Most Casino Revenue?
Nevada produces the most casino revenue, followed by Pennsylvania, New Jersey, New York, and Michigan. Las Vegas, Nevada, is by far the biggest casino gambling district in the United States, with about 345 domestic casinos.