If you follow our news reporting on revenue growth in New Jersey and Atlantic City concerning gambling entertainment? Well, then you know that the State has no problem having it’s virtual and brick and mortar casino doors open. And as reported, the revenue stream steadily increases. But even more impressive is that the flow is keeping rising from month to month. And this is also true for August, even when the land-based establishments saw a 25% operations restriction. In fact, New Jersey did actually break a nationwide record, previously held by Nevada. All in all, the State, and in particular Atlantic City, is doing great despite the uphill battle.
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$54 Million difference
As the Major sports got on its way in August, the sports bettor’s interaction surged to new heights. Where the 2019 old record of $614 Million spent on sports betting in one month saw defeat and ground to dust. And as announced by the New Jersey Division of Gaming Enforcement (NJDGE). The new record from one-month placed sports betting is close to $668 Million. Now, after a complete overview, the NJDGE number tells us that in total, the casinos and racetracks took home around $326.3 Million in August from gambling. Yet, it still means that if compared to last year’s numbers are down 7.5%. Though, pointed out, even if the State showed profitably and growth, the number is not subject to equal comparison.
Stuck on repeat
On overall standings, the online casino options are still doing great in the garden state. However, most of the operators reported negative numbers in growth. But still, we are talking about 10’s of Millions in revenue intake for all online operators in the State. And by no means a bad result, all things considered. Though, As per usual, Golden Nugget and Ocean Resort posted positive year-over-year numbers. First, Golden Nugget took home the money gold with its $37 Million (2.5% increase). Yet, if we strictly compare a percentage growth, the Ocean Resort brings home the number one spot with a 3.7% increase ($26.6 Million). And the question has to get asked. Who would have thought that the industry was this resilient to external opposing forces?