The New Jersey gambling market had a strong August, with operators earning $ 426.7 million, according to figures released by state regulators. It marks a 31% increase from August 2020, but a slight decrease from July’s gross gaming revenue of $ 450.6 million.
Brick-and-mortar casinos made up the bulk of that, with the nine Atlantic City properties taking in $ 262.4 million, a huge increase from the $ 199.1 million earned the same month ago. a year. August 2020 was the first full month that the city’s casinos were operational, although they do so under many state government restrictions.
In the coming months, year-over-year comparisons for traditional casinos will be a more accurate description of the state of the market.
Internet gaming, on the other hand, never stopped and showed signs of strength as its physical counterparts were shut down or under severe restrictions. Even after the return from ground operations in New Jersey, ISPs have continued to thrive, especially in the past few months.
In July, online casinos set a state record winning $ 118.7 million, breaking a record set in March when players lost $ 113.7 million. August kept those numbers near record highs, with online casinos reporting gross revenues of $ 113.2 million. This is a 29% increase year over year.
Sports betting revenues topped the state’s total numbers, with sports betting taking home $ 52.03 million from punters. This is a 31.7% jump in revenue year over year.
Borgata was once again the state’s most profitable land-based casino, with revenues of $ 52.06 million. Hard Rock Atlantic City was second in the state with $ 45.7 million.
Borgata opened in July 2003 and two years later earned its title of Town Revenue Leader. For the next 16 years it hasn’t budged from that location, but the under $ 7 million that separated Hard Rock from Borgata was the smallest margin between Borgata and the second best casino in quite some time.
In recent months, Borgata has also emerged as the first winner of the online space. Borgata’s online brand won $ 37.3 million from gamers in August, which is a massive 88.6% increase from August 2020.
Golden Nugget’s online operation was the gold standard in New Jersey for most of the market’s existence and took home $ 29.7 million. Last month, DraftKings announced that it had bought Golden Nugget Online Gaming for $ 1.56 billion in an all-stock transaction and placed Tilman Fertitta, owner of the company, on the board of directors of DraftKings.
August figures brought total New Jersey gaming revenue to $ 2.99 billion since the start of the year, with some analysts predicting continued vigor through the end of the year if the pandemic is brought under control .