Casino News: Macau Sees Record-Low Profits, NJ Casinos Bring in $380M & More

This week’s casino new starts off with some revenue numbers as New Jersey has delivered the January results while Macau has put forth February’s numbers. Both reeled in huge sums, so let’s dive in.

New Jersey Casinos Haul In $380 Million During January

The New Jersey Division of Gaming Enforcement just announced the gaming revenue from casinos during the month of January and it’s safe to say that they are recovering nicely. The final number came out to be $381.7 million, which was a 10.3 percent increase compared to the revenue that they brought in during January of 2021.

Retail casino gambling was a large chunk of that total money as well, coming out to $183.6 million. That number on its own is a 14.8 percent increase for retail betting in the state last January.

Sports betting revenue was reported to be $60.2 million in total. Now, this number actually operates as a 26.9 percent decline when compared to the $82.4 million they reeled in during the previous period.

The gambling market still seems to be doing well at avoiding massive impacts from the COVID-19 pandemic lately. New Jersey was one of the first to adapt to the online gaming world and it showed over the last couple of years. While many other states struggled to generate gaming figures during lockdowns, New Jersey simply adjusted since customers were able to still play online.

Macau Casinos Bring In $960 In February

A general view shows Galaxy Macau, a $1.9 billion casino resort that opened in May, in Macau. (AP Photo/Vincent Yu, File)

While New Jersey has only gotten around to releasing the January numbers, the Las Vegas of the East – Macau – has just reported their gross revenue numbers for the month of February. It was reported that Macau saw their gross gaming revenue hit $960 million throughout the month of February 2022. This would represent a 6.1 percent increase in earnings compared to their last month. Unfortunately, their gaming revenue for the first two months of the year in total still operates as an eight percent decline compared to the first two months of 2021.

Macau has struggled to bounce back from the devastating blow that the COVID-19 pandemic and now China is fighting off another surge. There is another lockdown happening in Shenzen where cases appear to be on the rise. That means Macau is not likely to be removing their COVID policies and restrictions anytime soon either after reports of outbreaks going around in Guangdong as well.

The recovery has been long and grueling. Their gaming revenue dropped 80 percent in 2020 compared to the numbers that they put up in 2019. Then they were able to go up about 40 percent in 2021 after a rough 2020 year. Eventually, they’ll get through it and rebound in a strong way but for now, it has been a grind.

West Virginia Advances Expanded Gambling Bill

We could be seeing a new gambling bill make its way to legalization soon in West Virginia. Now that sports betting is legal, Senate Bill 100 has made its way through the Senate on a large 23-10 vote to legalize other types of gambling. The bill will now be heading all the way into the House to try and push it further down the line. According to some reports, the bill is expected to allow racinos in the state to open up a second facility in the county that they are already in.

The only rule that operators will have to adhere to if the bill is able to pass is that the property must remain in full operation even after opening a second venue. They pinpointed things like accommodations, services and options, and amenities in particular.

The West Virginia gaming market was able to bring in a solid score of $658 million to the state throughout the 2021 year. This new bill, if passed, could help add even more money to that total down the line.