According to the statistical information released by the New Jersey Division of Gaming Enforcement, the Atlantic City casino industry is getting back in business as the gross gaming revenue is up more than 75% for the first five months of 2021. This number is not a big surprise, as casinos were shuttered for more than half of a year in 2020 due to the pandemic lockdown. However, since the market is opening, nine casinos in the city are getting a boost of 25% in the short span. For instance, casino leader Borgata, which had annual revenue of $200 million in 2020, has doubled to $395.5 million this year.
In 2019, the company earned only $27 million in online casino gaming, but in 2020 the making jumped to $68.4 million. In 2021, the numbers are better, with $186.6 million.
However, on the retail side, the Borgata revenue was $283.4 million in 2018, $269.1 million in 2019, $131.5 million in 2020, and $208.9 million in the first quarter of 2021. There are various reasons for these growing numbers. The expansion of legal and regulated gambling in the Atlantic City casinos is one such reason. In addition, Gov. Phil Murphy recently lifted more restrictions in the city and casinos, bringing in more customers and revenue.
The Revenue Runners up
Hard Rock, yet another major casino player, is second to Borgata with $151.1 million in 2021. Similarly, Ocean Casino, which opened in 2018, also boosted $106.2 million in 2021.
Tropicana stands fourth this year with $89.90 million, and Harrah’s remained in the fifth position with $89.87 million in 2021. Caesars, similar to Harrah’s Tropicana, claimed to earn $22.4 million in May. These numbers from the leading casinos show the industry is getting on track and will see a better result ahead of the year.
Online Kings of NJ Gambling
Besides offline, online gambling too witnessed a boost in revenue. Borgata in May knocked off longtime king-of-the-hill Golden Nugget by $32.8 million.
Moreover, the state’s three horse tracks, including the Meadowlands Racetrack, will see a better boost.
Two leading resorts: Draftkings and FOX Bet, stand in the second position at $59.2 million, and Borgata is at third position with $30.4 million.