The New Jersey Division of Gaming Enforcement reported record revenue of $147.2 million in NJ online casino gaming for October, but the notable month-over-month increase was not enough to prevent a decline in total casino revenue outside of sports wagering.
Revenue from the two pillars of casino gaming totaled $367.8 million for October, a dip of 5% compared to the $387 million generated in September. It was, however, a slight increase of 0.9% from $364.5 million in the same period in 2021.
The online casino revenue total easily eclipsed the previous record of $140.7 million established in March and was 8.8% higher compared to the $135.2 million generated in September. The figure was 15.9% higher than the October 2021 total of $127 million, which was a record in the gaming discipline at the time of release.
Atlantic City-based casino revenue fell off sharply in October to $220.6 million, a 12.4% drop from the $251.7 million claimed in September. It was also a 7.1% decline versus the $237.5 million in revenue from last October. The surge in iGaming revenue, which is taxed at 15% compared to 8% for standard casino play, meant the $35.6 million in tax receipts was a dip of less than $800,000 compared to September.
The casino and tax figures do not include October’s sports wagering numbers, as operators claimed $77.9 million in revenue that resulted in $9.9 million in tax receipts for the Garden State.
The two online casinos that contributed the most to the record revenue haul in terms of month-over-month increases were Resorts and Golden Nugget. Resorts posted an all-time high of $39.3 million in revenue, a jump of 15% compared to September and its second consecutive monthly record. The online casino picked up the slack for online poker play, improving 15.6% to $38.8 million, while the poker rake slipped 13.6% to $536,757.
Golden Nugget also had an all-time high in monthly revenue, but barely. Its $38.3 million was $102,966 better than the previous standard set in March and 12.3% higher than the $34.2 million in winnings reported for September. Borgata paced all online casinos with just shy of $41 million, extending its streak of $40 million monthly revenue totals to six while also posting a slight 0.3% decline versus September.
Borgata also surpassed $400 million in online casino revenue for the year, and its year-to-date revenue of $408.3 million is 19.6% higher versus the first 10 months of 2021. Bally’s set an all-time revenue record of $4.7 million, an increase of $1 million from a surprisingly subpar September that was its only month in the last five under $4 million.
Online poker rake was $2.2 million, the seventh consecutive month it stayed within a $120,000 range from just under $2.2 million to slightly more than $2.3 million. The year-to-date rake of close to $23.1 million is 9.1% lower compared to the same span last year.
Eight of the nine Atlantic City casinos reported month-over-month declines, and while Borgata avoided that fate, it was by a narrow margin. It led all casinos in total revenue with $62.5 million for October, but that marked an increase of less than $118,000.
The year-over-year comparisons were not as lopsided, as Hard Rock had the biggest increase at 4% to $38.9 million, though that was 10.8% lower versus September. Borgata was the only other venue to post a gain, but its 1.2% increase versus October 2021 amounted to less than $750,000.
Bally’s took the biggest monthly hit, plunging 31.9% to $10.8 million, while Golden Nugget, Resorts, and Tropicana all had month-over-month declines of worse than 20% compared to September. Ocean Casino Resort was the only venue that avoided a double-digit decline in percentage among the eight venues to post losses, finishing 7.5% lower at $28.3 million.
Table games revenue totaled close to $54.4 million in October, a year-over-year decline of 6.6% and 16.7% lower versus September’s $65.3 million. Slot revenue fall-off was sharper, as the $166.2 million was 7.3% lower versus last October and 10.8% off September’s total of $186.5 million.
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