{"id":13830,"date":"2024-01-18T14:50:59","date_gmt":"2024-01-18T14:50:59","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=13830"},"modified":"2024-01-18T14:51:18","modified_gmt":"2024-01-18T14:51:18","slug":"new-jersey-casinos-suffer-declines-in-in-person-gambling-revenue-in-2023","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/new-jersey-casinos-suffer-declines-in-in-person-gambling-revenue-in-2023\/","title":{"rendered":"NJ Casinos Suffer Declines in In-Person Gambling Revenue in 2023"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2017\/08\/new-jersey.jpg\" alt=\"New Jersey\" width=\"300\" class=\"alignright size-full wp-image-1175\" \/><strong>Summary:<\/strong><\/p>\n<ul>\n<li>New Jersey\u2019s gaming sector generated nearly $5.8 billion in revenue in 2023<\/li>\n<li>In-person gambling revenue dropped for most casinos<\/li>\n<li>Only three casinos managed to surpass their 2019 results in terms of money won from in-person gamblers<\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.legitgambling.com\/us\/states\/new-jersey\">New Jersey\u2019s gaming<\/a> revenue hit <strong>a new all-time high of nearly $5.8 billion in 2023<\/strong>, according to figures released by the <strong>New Jersey Division of Gaming Enforcement<\/strong> (NJDGE). But that\u2019s not necessarily good news, especially for some of the casino operators in Atlantic City whose businesses primarily focus on in-person gambling. <\/p>\n<p>A <a href=\"https:\/\/www.nj.gov\/oag\/ge\/docs\/Financials\/PressRelease2023\/December2023.pdf\">breakdown of figures<\/a> shows that most of the casinos in the resort city are still struggling to match their pre-pandemic results in terms of money won from in-person gamblers. While total revenue in this category exceeded 2019 levels, growth was mainly driven by the city\u2019s three newest casinos \u2013 <strong>Borgata, Hard Rock and Ocean<\/strong>.<\/p>\n<h2>NJ Sets New Gaming Revenue Record in 2023<\/h2>\n<p>Gambling operators in New Jersey and their online partners saw their revenue jump by 11% to $5.77 billion in 2023, setting a new record for the industry. Of that figure, nearly 46% accounted for internet gambling (over $1.9 billion) and <a href=\"https:\/\/www.legitgambling.com\/sports-betting\">sports betting<\/a> (over $1 billion).<\/p>\n<p>That means in-person gambling only generated around half of the total gaming revenue in New Jersey in 2023. Atlantic City casinos collectively won $2.8 billion from in-person gamblers, which surpassed pre-pandemic figures, but the bulk of that figure came from the three leading casinos in the city, each of which managed to exceed their 2019 results.<\/p>\n<p><strong>Borgata<\/strong> remains the market leader with $728 million in in-person revenue, an increase of less than 1% from the previous year. <strong>Hard Rock<\/strong> generated $512 million, up 4.1%, while <strong>Ocean<\/strong> recorded nearly $415 million in in-person winnings, up 16.3% from 2022.<\/p>\n<h2>Most NJ Casinos Winning Less Money from In-Person Gamblers<\/h2>\n<p>Most of the remaining casinos suffered declines in the past year: <strong>Harrah\u2019s<\/strong> ($254 million, down 1.5%), <strong>Tropicana<\/strong> ($240 million, down 3.3%), <strong>Caesars<\/strong> ($231 million, down 1.7%), <strong>Resorts<\/strong> ($163 million, down 2.3%) and <strong>Golden Nugget<\/strong> ($146 million, down 1.8%). <strong>Bally\u2019s<\/strong> generated $155 million, a slight increase of less than 1%.<\/p>\n<p>When internet gambling and sports betting are taken into account, the majority recorded some revenue growth. Borgata still leads the pack with $1.3 billion, followed by Golden Nugget ($672 million), and Hard Rock ($626 million). However, revenue from these two verticals has to be shared with partner entities, such as software providers and sports books.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary: New Jersey\u2019s gaming sector generated nearly $5.8 billion in revenue in 2023 In-person gambling revenue dropped for most casinos Only three casinos managed to surpass their 2019 results in terms of money won from in-person gamblers New Jersey\u2019s gaming revenue hit a new all-time high of nearly $5.8 billion in 2023, according to figures [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,6,1],"tags":[],"class_list":["post-13830","post","type-post","status-publish","format-standard","hentry","category-casino","category-finance","category-usa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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2023, according to figures [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.legitgambling.com\/news\/new-jersey-casinos-suffer-declines-in-in-person-gambling-revenue-in-2023\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-18T14:50:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-18T14:51:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2017\/08\/new-jersey.jpg\" \/>\n<meta name=\"author\" content=\"Kate Leaman\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@KateLLeaman\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kate Leaman\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" 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