New Jersey releases September revenue results and Borgata makes charge

Article by : Charles Perrin Oct 19, 2023

• 
• 

New Jersey has released its September 2023 revenue results, and there have been some notable developments across the board, according to the New Jersey Division of Gaming Enforcement.

Although land-based casinos suffered a slight dip, this was offset by some promising online performances over the past month, as illustrated by the state’s official gambling body.

Of the nine casinos in the state, Borgata remains the undisputed king, raking in close to $107.5million in total gaming revenue, albeit this was a 5.4% decrease compared to September 2022.

The year-to-date comparative figure for Borgata, however, was far more pleasing as there was a 2.9% uptick in overall gaming revenue to $997m.

In terms of the key movers and shakers, Ocean Casino generated $39.5m in land-based casino revenues for September 2023, marking a 29.2% increase compared to the same corresponding period of 2022, and total gaming revenues were up by a whopping 33.3%.

Yes, Ocean Casino also saw revenues soar for internet gaming, rocketing up by 86.6% to over $4.4m for September 2023.

However, Caesars will be among the operators who will be hoping for a change in fortunes over the coming months.

For September 2023, its land-based casino revenues slumped by 4.5% to $21.4m, and total gaming revenue dropped by 10.7% to $21.3m.

Similarly, Harrah’s has been trying to swim against the tide, and September 2023 saw a 4.3% drop in land-based casino revenues to $22.2m.

It should come as no surprise that slots remain an invaluable player at land-based casinos, contributing $186m of the total $246.5m revenue garnered.

But compared to September 2022, land-based casinos experienced a 2.1% downturn which will be of some cause for concern for those connected to the industry.

That said, total gaming revenue shot up by 7.5% for September 2023 to $521.4m compared to the same period in 2022 which will be warmly received.

With the full gamut of revenue figures crunched, New Jersey will certainly take some positives, and Ocean Casino will be quietly confident that it can continue to make headway in 2024.