Atlantic City casino revenue, aided by growth in sports betting and internet gambling, surged in August.
New Jersey’s Division of Gaming Enforcement reported
In Atlantic City, the Hard Rock Hotel & Casino and Ocean Resort Casino opened in late June, and statewide legalized sports wagering took effect in late spring. Statewide gambling revenue is up 3.5% year-to-date compared to 2017.
“With the new casinos that opened in June and the addition of sports wagering options, including online alternatives, the gaming industry has experienced growth rates in July and August that have not been achieved in years,” David Rebuck, director of the New Jersey Division of Gaming Enforcement, said in a statement. “It is an exciting time for Atlantic City and we look forward to continued revenue growth going forward.”
New Jersey sports betting accounted for $9.2 million of gross revenue during August and has totaled $16.5 million since the state began taking legalized wagers on June 14. Six of Atlantic City’s nine casinos now feature sports betting parlors with three offering online/mobile wagering platforms. The Monmouth Park horse track and the Meadowlands Racetrack have also opened sports betting lounges.
Internet gambling revenue finished at $24.8 million in August for a 16.6% gain from the year-ago period. Revenues for internet wagering for the year are up 16.5% compared to 2017 at $190.2 million.
Hard Rock recorded $30.7 million of revenue in August during its second full month of operation to place fourth among Atlantic City casinos behind Borgata, Tropicana and Harrah’s.
New Jersey collected $23.8 million in gambling taxes in August. The state has an 8% tax rate on casino gross revenue, 15% on internet gambling gross revenue and 8.5% on casino and racetrack sports wagering gross revenue.
