{"id":3376,"date":"2024-09-17T15:59:33","date_gmt":"2024-09-17T15:59:33","guid":{"rendered":"https:\/\/www.casinousa.com\/news\/?p=3376"},"modified":"2024-09-17T15:59:47","modified_gmt":"2024-09-17T15:59:47","slug":"new-jersey-august-igaming-revenues-flourish-while-land-based-casinos-struggle","status":"publish","type":"post","link":"https:\/\/www.casinousa.com\/news\/new-jersey-august-igaming-revenues-flourish-while-land-based-casinos-struggle","title":{"rendered":"New Jersey August iGaming Revenues Flourish while Land-Based Casinos Struggle"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.casinousa.com\/news\/wp-content\/uploads\/sites\/2\/2019\/08\/new-jersey.jpg\" alt=\"New Jersey\" class=\"alignleft size-full wp-image-1111\" width=\"300\" title=\"New Jersey August iGaming Revenues Flourish while Land-Based Casinos Struggle\" \/><strong>Summary:<\/strong><\/p>\n<ul>\n<li>iGaming hits new record with $198m+ in August earnings. <\/li>\n<li>Six of nine land-based casinos saw a decrease in revenues. <\/li>\n<li>Only three casinos won more than pre-pandemic numbers. <\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.casinousa.com\/states\/new-jersey\">Online gaming in the Garden State<\/a> is booming, as players are logging in now more than ever. The state has released the August totals, showing online activity brought in more than $198 million for the month. <\/p>\n<p>This is the most the industry has ever earned for a monthly total since its inception in 2013. Land-based casinos are not so lucky, as six of nine have seen a decrease in overall earnings. <\/p>\n<h2 id=\"august-revenue-details\">August Revenue Details <\/h2>\n<p>The <strong>New Jersey Division of Gaming Enforcement<\/strong> released the <a href=\"https:\/\/www.nj.gov\/oag\/ge\/docs\/Financials\/PressRelease2024\/August2024.pdf\">iGaming totals<\/a> this week, <strong>showing $198.4 million in earnings<\/strong>. This was an increase of almost 28% from 2023. While this was a huge boost, the land-based casinos did not fare as well. <\/p>\n<p>Only $294 million was earned, and six of the nine properties brought in less than they did in August 2019, which is pre-pandemic. If you add all the revenues together, online and land-based,<strong> the overall total is more than $555 million<\/strong>, which is 4.4% more than last year. <\/p>\n<p>Only the Borgata, Ocean, and Hard Rock were able to win more from physical visits than they did back in 2019 before the pandemic began. <\/p>\n<h2 id=\"in-person-totals\">In-Person Totals <\/h2>\n<p>Despite the lower totals, most of the casinos were up from last year, which continues to showcase how the venues are trying to recover post-pandemic. <strong>Borgata<\/strong> brought in just over $74 million, which is a boost of 1.6% from last year. <strong>Hard Rock<\/strong> was up over 9% with $55.3 million in earnings. <strong>Ocean<\/strong> was up even more at 11.4%, with $44 million. <\/p>\n<p><strong>Harrah\u2019s<\/strong> was up over 2% with $25.1 million, and <strong>Caesars<\/strong> jumped over 9% with $24 million. <strong>Bally\u2019s<\/strong> increased by over 4% with $15.6 million, and <strong>Golden Nugget<\/strong> was also up at 11.2% with $14.6 million. <\/p>\n<p><strong>Tropicana<\/strong> decreased by less than 1%, with $24.9 million, and <strong>Resorts<\/strong> went down by almost 9%, with $16.1 million. The percentages change a bit when you add online gaming and <a href=\"https:\/\/www.casinousa.com\/games\/sports-betting\">sports betting<\/a> back in, especially for the more successful operators. <\/p>\n<p>It\u2019s interesting to note that Resorts Digital, Resorts Casino&#8217;s online casino arm, was down over 30% with $69.2 million in earnings. This was a huge decrease and surprising given that the iGaming sector earned so much for the month. <\/p>\n<p>Land-based casinos will continue to rely on iGaming to bring in major revenues as the physical numbers remain low. Hopefully, the operators will find a way to reduce revenue totals or work on additional entertainment to bring in visitors and earnings. <\/p>\n","protected":false},"excerpt":{"rendered":"Summary: iGaming hits new record with $198m+ in August earnings. Six of nine land-based casinos saw a decrease in revenues. Only three casinos won more than pre-pandemic numbers. Online gaming in the Garden State is booming, as players are logging in now more than ever. The state has released the August totals, showing online activity [&hellip;]","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,6,5],"tags":[],"class_list":["post-3376","post","type-post","status-publish","format-standard","hentry","category-news","category-financial","category-industry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>New Jersey August iGaming Revenues Flourish while Land-Based Casinos Struggle<\/title>\n<meta name=\"description\" content=\"Online gaming in New Jersey brings in $198 million for August, a new record, while land-based casinos continue to see a dip in earnings.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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