New Jersey’s gaming sector skilled an 8.2% enhance in whole gaming income in July 2024 in comparison with the identical interval final 12 months, in line with the newest figures from the state Division of Gaming Enforcement. The general income for July reached $547.8 million, pushed by strong web gaming and sports activities betting performances. Nonetheless, conventional brick-and-mortar on line casino earnings continued to lag, reflecting ongoing challenges for Atlantic Metropolis’s on line casino business.
Robust efficiency in on-line and sports activities betting:
James Plousis, chairman of the New Jersey On line casino Management Fee, highlighted the success of New Jersey’s on-line gaming sector and sports activities wagering in a press release, noting that the overall gaming income for July marked the very best degree for the month in over a decade.
“Atlantic Metropolis’s whole gaming income reached its highest degree for the month of July in over a decade, because of near-record web gaming win and robust sports activities wagering income.“The variety of gaming choices and the energy of New Jersey’s on-line casinos proceed to supply resilience in a extremely aggressive market — not just for the good thing about the gaming business, but in addition for the financial system of town, the area, and the state,” Plousis acknowledged.
Regardless of the expansion in whole gaming income, gross gaming income for land-based casinos in Atlantic Metropolis dropped by greater than 6%, in line with the information. This decline displays a broader development within the business the place on-line gaming and sports activities betting are more and more overshadowing conventional on line casino operations.
Decline in in-person on line casino income:
Jane Bokunewicz, director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at Stockton College, commented on the continued challenges going through Atlantic Metropolis’s casinos by way of the official press launch (pdf) from the New Jersey Division of Gaming Enforcement (NJDGE). “Whereas many have been hopeful that the summer season of 2024 for Atlantic Metropolis casinos would see a rebound in drive-in guests after final 12 months’s development of individuals taking their ‘dream trip’ and flying to locations, the July in-person gaming numbers counsel that isn’t the case,” she mentioned.
Bokunewicz famous that whereas in-person on line casino income for July 2024 was not considerably decrease than that of July 2019, the market has developed significantly in recent times.
In-person on line casino income for July 2024 stood at $272.3 million, in comparison with $277.2 million in July 2019. Plousis acknowledged that the decline in brick-and-mortar gaming income was partly as a result of calendar configuration, which featured fewer weekend days this 12 months. He remarked, “July’s month-to-month on line casino win didn’t hold tempo compared to current years, partly as a result of a calendar with fewer weekend days.”
Influence of fixing journey tendencies:
The shift in journey preferences amongst vacationers might also be impacting Atlantic Metropolis’s gaming income. Bokunewicz identified that extra vacationers are choosing fly-to locations moderately than drive-to spots like Atlantic Metropolis. “Document excessive volumes of passengers touring via U.S. airports this 12 months (as reported by the TSA) may counsel that extra individuals are selecting fly-to locations for his or her holidays in comparison with drive-to locations and even ‘staycations,” she noticed.
This development contrasts with the current post-pandemic interval, throughout which many vacationers most well-liked driving to their locations, boosting Atlantic Metropolis’s revenues in 2022 and 2023. Bokunewicz recommended that the present shift may characterize a rebound in journey habits as extra folks really feel comfy flying once more.
