- Gambling produced $430.6 million in earnings for May 2022.
- The report does not include horse race revenues as the activity is reported separately.
- Borgata and Hard Rock took the top spot for in-person gambling, with $63.3m and $41.5m earned.
Gambling in New Jersey continues the recovery process, with in-person and online betting seeing a nice surge of activity for May 2022.
Recent revenue reports show that the state’s operators won $430.6 million in May, a 15% increase from the May 2021 totals.
The numbers indicate a continued pattern of recovery as the industry is now in its third year of the COVID-19 pandemic. While gamblers are still visiting the casino venues, we may see a downward trend soon due to inflation. Players are most likely to continue to visit casinos in the region but may have less money to spend on gambling and other entertainment.
Individual Casino Earning Breakdown
The New Jersey Division of Gaming Enforcement reported that the Borgata and the Hard Rock were the top earners for the month. The Borgata is the front runner, earning $63.4 million in May. The amount is so high that it is almost triple what some of the other operators were able to generate.
Hard Rock was able to come in second, earning $41.5 million. The casino continues to push to the top of the revenue list, which is a major accomplishment considering the venue opened in June 2018. In the beginning, Hard Rock was having a hard time gaining ground, but over the years has been able to maintain a stable player base.
Ocean Casino came in the third spot, which is also a milestone considering the venue opened at the same time as the Hard Rock. The casino generated much less though at $25.4 million. Year to date, Borgata has earned over $281 million with Hard Rock at $193.5 million. Ocean lands in the third spot this time too with just over $130 million.
Lower Revenue Producers
The other casinos in New Jersey are not generating as much as the others, but still maintaining the recovery process. Tropicana came in fourth with $21.6 million but almost lost that position to Harrah’s who earned $21.2 million.
Caesars is next with just over $20 million followed by Resorts with $14.1 million. Golden Nugget and Bally’s are pulling up the rear with $12.8 million and $12.7 million respectively. These properties are not seeing as much retail business as their competitors but are doing well online.
The online market saw $136 million in revenues generated in May. This is a solid number, but it was significantly lower than the $147 million from April. January, February, and March stayed in around the $130 million mark.
Sports betting saw an increase for the month, with operators reporting over $61 million. This was a good jump from the April totals of $50.3 million.
It will be interesting to see if the momentum continues and operators see a higher revenue trend or will the inflation in the US start to rear its ugly head and players spend less or stop visiting Atlantic City. If it is the latter, we may see revenue totals go back to pandemic numbers due to lack of tourism and spending.