New Jersey earned $264.5m from resumed gambling

New Jersey’s casinos and horse tracks recorded earnings of $264.5m in July, a 21% decline compared to the same period a year ago. The state Division of Gaming Enforcement released data that showed the venues operated at 25% capacity for the first month after receiving permission to re-open on July 2.

newjersey

The Ocean Casino Resort reported revenue of $26.2m, an increase of 30% compared to July 2019. The Golden Nugget also reported a growth compared to the previous year, with 17% growth to $40.3m. Unfortunately, revenue for Hard Rock dropped by 24% to $31m but the Borgata earned $26.6m, nearly a 70% drop compared to last year. 

Revenue for Tropicana also dropped by 32% to $22.5m, and Harrah's earned $21.1m, a 29% drop. Caesars’ earnings were down by 27% to $18.2m and Bally's dropped by 20% to $14.6 and Resorts declined as well by 34% to $12m.

In July, internet gambling brought in $87.4m in revenue and sports betting earned $29.5m, a 65% increase compared to June as many sporting events resumed at the end of July.

The casinos and tracks earned close to $1.3bn for the seven months of 2020, a decline from $1.9bn for the same period in 2019.


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