The latest release of revenue results by the New Jersey Division of Gaming Enforcement (NJDGE) told a tale of two Atlantic Cities.
The “total gaming win” metric – which measures revenue earned by land-based venues through slots and table games, along with their affiliated online casinos and poker rooms – slipped to $267.9 million in July. Compared to the $275.3 million total gaming win from July of last year, Atlantic City saw its take drop by 2.1 percent.
Land-based operations were responsible for generating a $247.3 million “casino win” figure in July, which was down 4.1 percent compared to the $257.9 million won in July of last year.
However, as the NJDGE report delineates, removing the now defunct Trump Taj Mahal casino from the equation changes the overall outlook for the better. The Trump Taj Mahal was shuttered in October of last year, but the venue managed to add $17.5 million to the casino win column last January.
By confining the casino win total to Atlantic City’s seven operational casinos (Bally’s, Borgata, Caesars, Golden Nugget, Harrah’s, Resorts, and Tropicana), the current $267.9 million haul is actually good for a 3.9 percent increase.
Matthew B. Levinson, who serves as chairman and chief executive officer for the state’s Casino Control Commission, spoke to the Press of Atlantic City about July’s numbers – and he was to point out that the operational casino caveat provides the most accurate assessment of year-on-year progress:
“It is clear that business is building for the seven operating casinos, and I am optimistic it will continue to grow in the months ahead.
Atlantic City’s seven operating casinos won 3.9 percent more last month than in July 2016 — even though it had one less weekend day.”
Those sentiments were echoed by David Rebuck, who recently became the longest serving director in NJDGE history, in his own comments to the Press of Atlantic City:
“While there are fluctuations in monthly revenue, it is encouraging that Atlantic City’s current operators’ casino win figures are up nearly 10 percent for the year so far, illustrating that overall, there is continued stabilization in the industry.”
As land-based casinos in Atlantic City experienced minimal growth (or contraction, depending on the metric used), the iGaming industry posted $20 million or more in monthly revenue for the fifth consecutive time.
The “internet gaming win” generated by online casinos and poker rooms in New Jersey totaled $20.6 million – up 18.5 percent on $17.4 million year-on-year.
The biggest iGaming winner was, by far, the Golden Nugget’s collection of licensees – which includes the Golden Nugget, Betfair, and SugarHouse brands. These three operators combined to generate a $6.25 million internet gaming win, which was up an astounding 68.6 percent over the $3.70 million win last July.
Resorts Digital – which includes the Resorts and Mohegan Sun online casinos, as well as PokerStars NJ – grew its iGaming win by 22.9 percent, from $3.05 million to $3.75 million.
The only other iGaming license group to record an increased win rate was Tropicana, which covers the namesake online casino along with Virgin. The two operators took in $3.59 million, up 10.6 percent on $3.24 from last July.
The news wasn’t as rosy for Caesars Interactive, which encompasses the Caesars, Harrah’s, WSOP.com, and 888 brands. With a monthly win of $3.21 million, the license group collectively fell by 5.4 percent over last year’s $3.39 million result.
The Borgata group – spanning MGM, PartyPoker, Borgata, along with the newly added Pala Interactive and Scores Casino – also watched its monthly revenue fall. With a July win of $3.79 million, Borgata’s iGaming operation dipped by 4.7 percent compared to last July’s $3.97 win.