New Jersey’s regulatory body presented an informative financial report revealing September’s figures. The results turned out to be rather impressive.
According to the document, the local digital gambling vertical grew to a record $ 208 million. The state’s industry has surpassed the $ 200 million level for the very 1st time.
Central Notions from the Report
The regulatory body admitted that iGaming positively impacts the overall regional entertainment segment.
Meanwhile, the ground niche’s total turnover in September 2024 increased by $ 6 million in comparison to the same period in 2019. The offline amusement vertical is experiencing a decline: 5 out of 9 Atlantic City’s gambling locations reported a revenue drop from 5 years ago.
The earnings of local operators across all sectors reached $ 558 million, a 7.1% YoY uplift. Notably, this is the 3rd month in a row when the industry’s turnover exceeds $ 500 million.
In the first 3 quarters of the year, the iGaming market generated 40.8% of the total revenues the state’s operators earned.
Local Brands' Financial Statistics
In the land-based winnings segment, Borgata was the only company that managed to increase its results. The enterprise won $ 62.4 million, a 15% rise. Other corporations had declines of 3.9−28%.
Still, some companies gained significant sums:
- Hard Rock — $ 44.6 million;
- Ocean — $ 28.4 million;
- Caesars — $ 20.5 million;
- Harrah’s — $ 18.6 million;
- Tropicana — $ 17.9 million.
When combining physical winnings with those in digital gaming and sports wagering, the sector’s figures were more inspiring: 4 out of 9 operators demonstrated increases.
Among them were:
- Borgata — $ 120.2 million (up 12%);
- Golden Nugget — $ 72.8 million (25.8%);
- Hard Rock — $ 64.4 million (10.8%);
- Bally’s — $ 24.1 million (19.2%).
Despite experiencing drops, Resorts ($ 106.5 million), Ocean ($ 33.9 million), and Caesars ($ 20.6 million) reported good financial results.
The local Casino Control Commission’s Chair praised the continued success of the digital vertical. James Plousis also mentioned that this September’s growth helped push overall revenue at Atlantic City’s entertainment locations to a record high for over 10 years.
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