The trend, when it comes to casino revenue across the United States, is undoubtedly heading in the right direction, namely, up, and this is mirrored in terms of how things are sitting in New Jersey.
The latest set of data, which covers February 2023, shows that the revenue brought in by casinos, horse tracks (those which take sports bets), and online apps saw a massive increase of 10.4% over the previous month.
On-site gambling saw casinos rack up almost $215 million, which is a steady 1.2% increase on the same period in 2022 but tellingly, the casinos that won more from gamblers visiting their establishments than when compared to February 2019 numbered just three, those being Borgata, Hard Rock, and Ocean.
This is in part down to the increase in new resorts, as referenced by Jane Bokunewicz, director of the Lloyd Levenson Institute based out of Stockton University, who stated;
“Locally, the addition of two new casino resorts to the established seven has disrupted market share,”
“The local market pie has grown, but the way that pie is cut has changed, shifting in favor of the newest entrants to the market.” She added.
This is perhaps not rocket science as a new casino in town will always attract new business, especially if they push promotions and bonuses to those who come to check out their services, and longevity is still very much the name of the game.
Internet gambling in New Jersey increased by $142.5 million in February, a rise of almost 10%, and clearly, the fact that the Super Bowl takes place in this particular month (as it does most years) is a factor to take into consideration.
The prominent players in the online market were Bally’s, Borgata, Caesars, and Golden Nugget.