Atlantic City, New Jersey (AP) – New Jersey’s booming online gambling market continues to break records, yet the winnings from in-person gamblers at most Atlantic City casinos remain below pre-COVID-19 levels.
Figures released Tuesday by the New Jersey Division of Gaming Enforcement show that casinos and their online affiliates earned over $197 million from online casino games in March, setting another monthly revenue record.
Although not a record, sports betting – fueled by the March Madness college basketball tournament – reached nearly $1.33 billion in wagers in March, marking the fourth-highest amount since sports betting was legalized in 2018 following a U.S. Supreme Court ruling in a case brought by New Jersey.
Combining revenue from in-person casino wins, internet gambling, and sports betting, casinos, online partners, and racetracks that accept sports bets took in more than $526 million in March, an increase of 8.1% from March 2023.
Yet, the primary metric for casinos, which is the amount won from in-person gamblers, remains challenged. While the total of $239 million that the nine casinos earned from in-person gamblers in March represented a nearly 5% increase from the previous year and was slightly higher than the total the casinos earned in March 2019, only two of the nine casinos exceeded their pre-COVID-19 in-person earnings.
Jane Bokunewicz, director of Stockton University’s Lloyd Levenson Institute, which studies the Atlantic City gambling market, noted that total gambling revenue in 2024 has shown a “solid start,” with the first quarter up 11% compared to the same period last year.
Casinos prioritize in-person revenue most, as they retain all of that money, whereas internet and sports betting winnings must be shared with third parties.
In March, Borgata earned $56.5 million, down 8.1% from the previous year. Hard Rock earned $44.3 million, up 11%; Ocean earned $40.6 million, up 17.6%; Harrah’s earned $21 million, up 2%; and Tropicana earned $19.8 million, up 2.5%.
Caesars won $18.5 million in March, up almost 8%; Golden Nugget won $13.6 million, up 11.4%; Resorts won $13.4 million, up nearly 6%; and Bally’s won $11.7 million, up 11.2%.
Combining internet and sports betting revenue, Borgata took in $106.6 million, down 6.1% from last year. Golden Nugget took in $70.6 million, up 28.2%; Hard Rock took in $58.3 million, up 17.2%; Ocean took in nearly $48 million, up over 21%; and Tropicana took in $36 million, up 11.5%.
Harrah’s took in $22.2 million, up 8%; Bally’s took in $20.9 million, up 20.6%; Caesars took in $18.7 million, up 10.2%; and Resorts took in $13.6 million, up 8.4%.
Resorts Digital, the casino’s online business, won $66.4 million, down 11%, and Caesars Interactive NJ won $6.4 million, down 23%.
Casinos and racetracks earned nearly $90 million from sports betting after paying winning bets and other expenses.
