ATLANTIC CITY — New Jersey set new records for online gambling and sports betting in November. This shows that the gambling market in Atlantic City is changing and becoming less reliant on real casinos, according to numbers released Friday.
The NJ Division of Gaming Enforcement says that casinos and their technology partners won more than $171.5 million from online slots and table games. Also, bets on sports at the three horse tracks and casinos totaled $1.62 billion in November, which was another high.
When you look at these numbers together, they show that new technology and more betting choices are changing the way some people gamble in New Jersey. Previously, the only way to gamble was in a real casino.
Jane Bokunewicz, who runs the Lloyd Levenson Institute at Stockton University and studies the gambling business in Atlantic City, said that in November, about 45% of the city’s income came from online and sports betting.
But she sees it as adding to real-life casinos instead of fighting with them.
“Internet gaming and sports betting don’t seem to be hurting the sales of traditional casinos; instead, they seem to be well-liked products that fill a need for some gamblers,” she said. “There will never be a game that can replace playing in person, and the fact that revenues from brick-and-mortar gaming have been pretty stable may just mean that the market is stable.”
She said it was still too early to tell how the rise in online and sports betting would affect the general profits of the casinos. These sources of income can’t just go to the casinos they have to share them with partners like sports books and tech platforms. This is a big reason why casinos see the money they win from people who bet in person as their main source of income.
And that important business is still not doing as well as it was before the plague. There are nine casinos in New Jersey. In November of this year, only Hard Rock and the Ocean Casino resort won more from real people than they did in November of 2019 (before the plague).
The casinos and three racetracks won a total of $482.4 million in November. This is 9.4% more than the same month last year. The money was won in person, online, and from sports betting.
The Golden Nugget has had a strong online gambling business for a long time. In November, they won over $50 million from online casino games, which is almost 33% more than the same month last year. Resorts Digital, the online part of Resorts Casino, won $47.2 million, which is an increase of over 26%. The Borgata also won nearly $38 million online, which is a decrease of 14.4%.
The market-leading Borgata won over $97 million in November, which is 8.6% less than the same month last year. This includes money won from sports betting and online gaming. The following casinos won a total of $61 million: Hard Rock (52.4 million), Ocean (36.7 million), Tropicana (28.5 million), Harrah’s ($20 million), Bally’s ($19.7 million), Caesars ($17.9 million), and Resorts ($12.4 million). On the other hand, Hard Rock (up over 26%), Ocean (up 5.7%), and Tropicana (up 8.2%).
If you only look at the money won by people who gambled in person, Borgata lost $51.6 million, or 6.1%; Hard Rock won $41.4 million, or 16.7%; Ocean won $31.4 million, or 1.4%; Harrah’s lost $19.4 million, or 7.6%; Tropicana lost $17.8 million, or 6.8%; Caesars lost $17.5 million, or 7.7%; Resorts lost almost $12.5 million, or 0.2%; Bally’s lost $12 million, or 20.4%; and Golden Nugget lost $11 million, or nearly 3%.
The sum of all the money bet on sports, or “handle,” also hit a new high in November. Even though the casinos and tracks took $1.62 billion in bets, they only kept $96 million as profit after giving out winning bets and paying for other costs.
With $57.6 million, the Meadowlands Racetrack in East Rutherford, New Jersey, got more than half of that. The track is just outside of New York City and is known for having a FanDuel sports book there. Through its partnership with DraftKings, Resorts Digital won more than $19 million in sports bets.
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