New Jersey iGaming Revenues Up 5% in July

Posted By James Guill on August 13, 2014

The New Jersey Division of Gaming Enforcement published gaming revenue results for July and some casinos posted huge gains year-over-year. Online gambling revenue was up 5% over June while online registrations saw a 7.1% increase.

Taking a closer look at the numbers, Golden Nugget had an amazing month in July. They posted total casino winnings of $18.2 million in July 2014 versus just $12.96 million just a year ago. This was a 40.5% increase, tops among AC casinos.

Tropicana also posted huge gains in July. They took in $27.73 million in July 2014 versus $20.66 in July 2013, good for a 34.2% gain. Harrah’s and Resorts posted modest wins of 2.1% and 3.4% respectively.

Not surprisingly, the two worst performers were Revel and Trump Plaza. Revel took in just $14.89 million in July as opposed to $23.39 million in July 2013, down 36.3 percent. Trump Plaza earned $5.39 million in July 2014 and $8.16 million for the same period last year. This was a 34% drop year-over-year.

The Trump Taj Mahal, Showboat and Caesars all posted double-digit decreases year-over-year. Caesars posted a 20.1% decrease year-over-year.

Online gambling in Atlantic City saw a solid 5% increase in July. Total win was $10.07 million versus $9.5 million in June. Online poker brought in $2.14 million revenue while other games raked in $7.92 million.

Trump Plaza and Golden Nugget posted the biggest gains month-over-month. Trump Plaza saw a 25.6% increase from June while Golden Nugget saw gains of 24.79%. Trump Plaza is schedule to close their doors later this month but Betfair plans to stay in the NJ market and it’s hard to blame them with ever increasing numbers.

The Borgata was the only card room to see online revenues decline in July. While their poker room saw a slight uptick, it wasn’t enough to offset the losses in other games. They finished the month down 8.27% from June.

AC casinos have brought in over $73.12 million in revenue through July. Borgata and Caesars lead the way with $27.15 and $21.24 million respectively. The Tropicana a solid third place with $11.79 million. This is doubly impressive considering they don’t offer online poker. Golden Nugget, Trump Taj Mahal and Golden Nugget round out the list, averaging around $4.3 million each.

At this pace, Atlantic City iGaming is on pace to exceed $125 million in revenue for 2014. Of course, three casinos are schedule to close in the next month and it will be interesting to see what impact that has on numbers across the board.

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