New Jersey’s gaming market continues to grow post-pandemic. Gross gaming revenue (GGR) last month from land-based and online operations amounted to more than $374.2 million.
That’s a 35 percent gain in May 2019, when the industry won $276.7 million from gamblers across all verticals.
That’s fortunate. What’s concerning is that the brick-and-mortar casino resorts in Atlantic City continue to see the marketplace develop, and it’s not in their favor.
The headlines can be misleading. For example, in May 2021, GGR was a 35 percent premium on May 2019, long before the world understood COVID-19. Last month, Atlantic City casinos reported land-based GGR of $213.1 million. That’s an almost five percent reduction from May 2019.
Joe Lupo, president of Hard Rock Atlantic City, desires the New Jersey Division of Video Gaming Enforcement (DGE) to change its monthly gaming earnings overalls. When a considerable part of that money is divided with third-party interactive suppliers, he states the state merely groups together iGaming into a gambling establishment’s monthly efficiency.
” We require to see the city revitalized, and it’s not going to occur when the media is reporting increases when they include online income that is going to third-party companies that don’t have any stake in the Atlantic City video game,” Lupo declared previously this year.
Despite GGR at Atlantic City’s nine casinos falling about 5 percent from Might 2019, James Plousis, chairman of the New Jersey Gambling Establishment Control Commission, stated last month was strong.
Atlantic City’s lead to May is promising. Compared to pre-pandemic May 2019, the casino industry’s total gaming revenue was up more than 26 percent, following the growth seen last month. In addition, gambling establishment win was more than 95 percent of Might 2019’s strong results, an indicator that travelers are returning to Atlantic City,” Plousis said in a statement.
Plousis’ 26 percent reference is for GGR connected to Atlantic City gambling establishments. It does not consider sports wagering win from horse racetracks and their mobile operations.
Atlantic City casinos have several factors to be optimistic about the current month. June marks warmer temperature levels, school summer vacation is largely underway, and the gaming properties are no longer based on any capacity limits.
New Jersey Gov. Phil Murphy (D) lifted capability limitations on casinos effective May 19. As a result, bar seating, and usage of food and beverages on gaming floorings, in addition to buffets, are also back.
With the $213.1 million the brick-and-mortar casinos won last month, GGR from iGaming amounted to $108.1 million.
Online gambling establishments won 26 percent more money from bettors last month than they carried out in May 2020. When land-based casinos were closed, that was a time. Sportsbooks, both retail and mobile, kept $52.9 million of the money wagered.
MGM Resorts Borgata commanded the most significant market share. The casino resort reported a GGR of $85.3 million from its physical casino, online platform, and BetMGM sportsbook.
Resorts was a distant second at $46 million, and Golden Nugget and its interactive gaming and sportsbook company Golden Nugget Online Gaming was 3rd at $44.2 million. Acid rock was available in 4th at $41.6 million.