New Jersey’s casino market had its best May figures ever. Indeed, the YoY revenue report confirmed that operators continue to flourish. According to the state’s Division of Gaming Enforcement, licensees generated $38.3 Million last month. Which, is well above the $36.6 Million bar set in April. Plus, the figures reveal a 15.3% improvement from the same period a year before. Now talk about growth and defeating seasonality.
Old leading the way
Overall, NJ’s revenue is up 22.5% YoY. However, some NJ casinos rose higher than others, even when their revenue dropped MOM. But still the undisputed winner is Borgata with $55.2 Million. The Second place went to Hard Rock and its $28.6 Million. The third and last place on the podium when to none other than Tropicana who generated $25.3 Million.
Failing to take a spot in the winner circle is Caesars (up 3% to $22.9m), Golden Nugget ($17.1m) Ocean Casino Resort ($16.3m). The last and final place went to Resorts Casino Hotel, up 4.2% to $16.2 Million. But it’s worth knowing that even if Resort Casino didn’t make it to the top of the report this month. They still had an impressive month. Caesars and Resorts Casino Hotel were the only two operators that showed an increase from the same period when compared to last year’s figures.
Next Month will have a different result
Now that summer is in full swing, and warmer weather is here, the money should follow, as the boardwalk gets busier, which is excellent news. In fact, experts have predicted a drop in online gaming revenue for next month. And certainly, operators will welcome an increase in foot traffic to compensate for the online drop. Perhaps the increase in foot traffic means that newer casino stands a better chance to get a bigger slice of the revenue. But one question is remaining, and hopefully, next month report will answer it. Could more traffic into the city translate into a new pack leader? Let’s see…