NJ's casinos, horse tracks that offer sports betting and the online partners of both types of gambling outlets won $470.6 million from gamblers in August, up more than 10% from a year earlier, according to figures released by state gambling regulators.
A dealer prepared to spin the ball during a game of roulette at the Hard Rock casino in Atlantic City N.J. on Aug. 8, 2022. On Sept. 16, 2022, New Jersey gambling regulators reported that the state's casinos, horse tracks that offer sports betting and the online partners of both types of gambling outlets won $470.6 million from gamblers in August, up nearly 10% from a year earlier. ATLANTIC CITY, N.J.
Those revenue streams are misleading, casino executives say, because casinos do not get to keep all that money; it must be shared with third parties including tech platforms and sportsbooks. By some estimates, as much as 70% of internet and sports betting money is not retained by the casinos. Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City casino industry, called the casinos' August performance “a solid showing.”
Four casinos reported revenue declines compared with a year earlier. They are: Golden Nugget ; Tropicana ; Harrah's ; and Caesars .
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