NJ online casino revenue drops to $131 million in August

New Jersey Online Casinos taken a step back in the month of August. They succeeded almost $131 million In incomeabout $5.3 million less than of july production.

The NJ online gambling market fell short of expectations this month. This is actually the lowest point for revenue since Feb. 2022when revenues hit just under $130 million.

After it appeared that momentum had shifted in a positive direction over the previous month, the pace slowed due to the Games Application Division August report. However, the summer months are traditionally the strongest in Atlantic City casinos.

2022 NJ Online Casino Revenue Surpasses $1 Billion

Even though earnings are down from recent months, they are still in good shape overall. Online casino revenue for the month increased by more than 16% in the garden condition when you look at last year.

This figure increases even more for year to date analysis. Online earnings show a 25% growth from then on 2021. This year’s total now exceeds $1.08 billion compared to $866.1 million this time last year.

NJ sports betting revenue jumps $20 million

As far as NJ sports betting goes, it was a solid showing last month. Sports betting revisited $65 million revenue, which is an increase of nearly $20 million from July.

Their overall handle also saw a substantial jump with $546.8 million in bets. This is an increase of over $15 million from July.

Here’s a look at how Atlantic City’s nine casinos and New Jersey’s three racetracks performed.

Licensed Brand(s) online To manage Revenue Hold Taxes
meadows FanDuel | PointsBet | super book $244,962,176 $33,181,764 13.5% $4,611,330
Atlantic City Resorts DraftKings | Fox Bet | Resorts $95,829,997 $13,049,381 13.6% $1,842,348
Monmouth Park Caesars | PlaySugarHouse | the score bet $73,400,869 -$8,834,328 -12.0% -$62,426
Borgata BetMGM | Borgata $56,254,622 $6,993,090 12.4% $1,038,839
Tropicana Atlantic City Caesars | Mojo $28,564,105 $3,880,399 13.6% $549,822
Full ownership Stool | PlayUp | betParx $20,203,610 $2,738,848 13.6% $383,725
Hard Rock Atlantic City Hard Rock | bet365 | Unibet $17,127,265 $2,323,529 13.6% $324,795
Caesars Atlantic City Wynnbet | 888 $3,837,763 $515,893 13.4% $69,817
Ocean Typical $3,465,032 $458,538 13.2% $45,555
Golden Nugget Atlantic City gold nugget | TwinSpires | Bet $1,485,104 $197,568 13.3% $25,720
Harrah’s Atlantic City Prophet | Fubo $1,056,082 $131,798 12.5% $7,688
The Atlantic town of Bally LIFE $577,721 -$72,099 -12.5% -$901
Total $546,764,346 $54,564,381 10.0% $8,836,310

NJ Online Casino Revenue Summer Trends

It appeared that online casino revenue in NJ solidified a month ago, finally reversing the trend and generating more revenue. July marked the first time in four months profits have increased.

Unfortunately for the Garden State operators, that didn’t last very long. Not only did revenues fall, but they fell below the end of each of the past five months.

Although this may worry some, it is in fact the same trend it happened a year ago. July figures saw an increase of Junebefore relocating in August.

NJ casinos brought in around $119 million in July 2021, then just $113 the following month. September betting ended up generating even more revenue, with October 2021 from that, for a total of more than $127 million.

With many NJ residents still visiting retail casinos in the state, some revenue may be lost there.

Still, earnings are up sharply from 12 months ago. The 16% difference from August 2021 is approximately $18 million the penalty. The year-on-year difference is slightly more $216 million.

Through August, only three casino licensees and their online partners reported more than $100 million in earnings for the year. These include Borgata, Gold nuggetand Digital stations.

Despite ranking third in this group, Resorts Digital is seeing the strongest growth over last year, with around 40% more profit. Its 2022 revenue so far is just around $242 millionnearly $70 million more than this time in 2021. That’s around this time last year when the NJ Casino Stool the application has been put online.

Borgata/BetMGM dominate, but the big three earn less

La Borgata, led by its online applications of BetMGM and Borgata Casino, regained control of the market in August. It was the only licensee to exceed $40 million in monthly revenue, which is approximately $41.8 million total.

It is now four consecutive months in which the Borgata reached this mark. She was the first to do so. March.

Although its online casinos have brought in around 12% more revenue this month compared to August 2021, it fell about $1.2 million from July. It wasn’t the only one either.

Golden Nugget (directed by Golden Nugget Online Casino) and Resorts Digital (includes DraftKings and PokerStars) basically did the same thing. Golden Nugget was a little behind last month’s productivity, while Resorts remained flat.

Golden Nugget still in the lead $31 million, but it was well below July’s figure of $34.5 million. The resorts ended up generating about $30.7 million in August, only $200,000 more than in July.

Despite the lackluster month for all three, there isn’t much competition behind them. The closest NJ online casino provider by revenue is Interactive Caesarwho ended the month just before $9 million.

Here’s a closer look at the August NJ online casino results by licensee.

Licensed Total income casino games Poker Specials Taxes
Borgata $41,823,848 $41,099,139 $724,709 $2,315,791 $7,295,828
Golden Nugget Atlantic City $31,376,905 $31,376,905 $0 $4,303,229 $5,492,195
Atlantic City Resorts $30,743,374 $30,111,042 $632,332 2,597,888 $5,362,917
Caesars Atlantic City $8,900,003 $8,050,391 $849,612 $0 $1,537,787
Hard Rock Atlantic City $5,777,667 $5,777,667 $0 $339,698 $1,015,060
Tropicana Atlantic City $5,366,268 $5,366,268 $0 $0 $939,097
The Atlantic town of Bally $4,527,787 $4,527,787 $0 $665,515 $790,916
Ocean $2,922,331 $2,922,331 $0 $38,929 $512,100
Total $131,438,183 $129,231,530 $2,206,653 $10,261,050 $22,945,900

NFL futures could impact NJ sports betting revenue

While online casino gaming didn’t hit new highs last month, sports betting in the Garden State did. August revenue exceeded $65 million for sports betting, the best performance since March hit $66 million.

NJ sports betting received a nearly $6 million boost from June to July, before taking it to the next level. August earnings exceeded $20 million more, an increase of 45%.

This was not the only good news, as the state manipulate also saw improvements. It totaled approximately $547 millionup nearly $16 million from July.

This month’s handful might not be so overwhelming (it reached over $925 million in April), however, the revenue that came with it was. NJ sports betting earned more in August than it did in April Where Maywhen the handle was hovering around $765 million.

Part of that reason could stem from a wide range of NFL Futures. With the new season starting in early September, many bettors are getting their futures action in the previous month.

Since all futures bets for the NFL or college football will not be settled for several months, all this money wagered is income.

Luckily for the operators, the revenue stream shouldn’t slow down with the start of real football games this month.