State gaming revenue up in June

Matthew Fazelpoor//July 19, 2022//

State gaming revenue up in June

Matthew Fazelpoor//July 19, 2022//

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Despite no shortage of challenges, the June figures from the New Jersey Division of Gaming Enforcement show things trending in the right direction for the industry.

Last month, the state’s casinos, horse tracks and online partners won $401.5 million, marking a 2.2% increase from June 2021. For the year, they reported $2.43 billion in Total Gaming Revenue—a 15.2% increase over the same point last year. Even more encouraging for Atlantic City, the casinos’ total gaming revenue ticked up considerably from recent years in June.

Jane Bokunewicz, Institute Coordinator & Associate Professor of Hospitality, Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at Stockton University.

“Total Gross Gaming Revenue for the month improved on June 2021 by 9.2% and June 2019 by 40.4%,” said Jane Bokunewicz, faculty director of Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism (LIGHT), Stockton University School of Business. “Total brick-and-mortar revenue for the month was up 6.8% compared to June 2021, which is encouraging since the industry does not have the benefit of the pent-up demand that motivated much of the last summer’s activity.”

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It was also another huge month for internet gaming, which has boomed since the COVID-19 pandemic began. The casinos and their partners reported $133.1 million in Internet Gaming Win revenue, 24% higher than last June.

“In keeping with current trends, a significant portion of that growth came from internet and sports betting, which have grown in significance in the past few years,” said Bokunewicz. “Since this time last year, internet gaming has grown so much in significance that even a seasonal plateauing of revenues generated from that activity (-2.1% compared to May 2022), did not diminish its impact on the industry’s overall performance for the month.”

In addition to the growth, Bokunewicz noted that a major bullet was dodged by most of the casinos reaching a deal with Local 54 of Unite Here to avoid strikes that had the potential to derail the pivotal summer season.

“The peak summer season is still ahead of us, and, with the uncertainty of the potential Local 54 strike settled for most casinos, the summer looks promising,” said Bokunewicz.