The DGE explained that incorrect reporting between October 2023 and May 2024 overstated the operator’s igaming promo credits by $4,564,515, resulting in an underpayment of gross revenue taxes. 

According to the Garden State regulator, Borgata underpaid its gross revenue taxes by $365,161 on its June 2024 tax filing. The BetMGM partner has agreed to pay a $75,000 fine. 

Interim Director at the DGE, Mary Jo Flaherty, issued a letter to Borgata SVP and Legal Counsel Patrick Madamba, writing that the regulator had identified an error on the BetMGM igaming platform reports, which was submitted by Borgata between October 2023 and May 2024.

This is the second New Jersey tax underpayment from Bogata in 18 months, Flaherty pointed out. The casino operator was found in March 2023 to have overstated its igaming promo credits by nearly $10m, resulting in an underpayment of over $787,000.

“The Division views this matter as serious,” said Flaherty. “The original violation was an understatement of gross revenue by almost $10m. This second understatement of gross revenue was in an amount of over $4.5m. These understatements resulted in the assessment of additional taxes, tax penalties and interest of over $1.3m.

“The fact that this conduct was repeated less than 18 months after the Division warned an additional violation of this type could result in a civil penalty is also to be considered.”

However, Flaherty did note that underpayment issues were resolved quickly in both cases, but did stress that claiming promotional gaming credits in excess of the amount of the bonus issued is “a clear violation” of legislation.

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Moderated by James Kilsby, Chief Analyst at VIXIO, the panel entitled ‘Regulation 2030: Anticipating Future Compliance Challenges’ emphasised the importance of collaboration as the framework around social responsibility evolves and the potential for federal intervention increases.

Painting a picture of her ideal outcome for the industry Cathy Judd-Stein, the Former Chair of the Massachusetts Gaming Commission, emphasised her optimism that regulators will embrace further collaboration with operators as ambitions to eradicate the threat of the black and grey market are realised. 

Louis Rogacki, Assistant Attorney General, New Jersey Division of Gaming Enforcement, echoed this sentiment as he urged operators to be more forthcoming with solutions when it comes to RG and tackling the black market. 

He said: “Regulators shouldn’t always have to go to the industry to provide them best practices, they should be coming to regulators. If the industry doesn’t heed the warnings it will lead to federal intervention, which is not a good scenario for the regulated industry.”  

Judd-Stein added that the base built is a strong one as solid connections have already been formed, while specifically referencing Massachusetts for praise as a region that has taken a strong lead in terms of advertising regulations. Building on this, she told the audience that they have regulation pending to provide broader prohibitions when it comes to gambling advertising. 

That being said, she detailed that federal intervention may well play a vital role in terms of the detection and tackling of unlicensed operators, stating that the industry shouldn’t be hesitant to ask for support when it comes to this eradication of the black market.

Cole Wogoman, Senior Manager, Government Relations and League Partnerships, National Council on Problem Gambling, stated his belief that federal intervention is highly likely and downplayed the sentiment that it would definitely be a bad outcome. 

A national standard in terms of RG is an avenue that Wogoman believes could be fruitful in improving the approach of RG. However, he highlighted that it wouldn’t have to be federal or come from congress. 

Providing further analysis of the market, he emphasised that ‘culture matters’, and the type of stringent affordability checks being implemented in the UK simply wouldn’t translate successfully to a US audience. 

Rogacki also agreed that attempts to bring UK-style affordability checks to the US markets would be futile in the bid to build the most impactful regulatory framework. 

Nonetheless, the scrutiny being placed under many new entrants to the market is too significant of an obstacle according to Behnam Dayanim, Partner, Orrick Herrington & Sutcliffe LLP, who revealed that some of the most talented people are being discouraged from entering the igaming space. 

He told the panel that ‘regulators should step back and take a look at what they don’t need to regulate’, as he urged the need for evolution when it comes to the regulatory strategy being undertaken in the market.

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However, land-based casino operations across the Garden State’s nine casino hotel properties dipped during the month in comparison to the same period the previous year, with three casinos undergoing double-digit percentage revenue declines.

According to the New Jersey Division of Gaming Enforcement, total gaming revenue in February from casinos, racetracks and partners came in at $461.5m, a 12 per cent improvement in comparison to February 2023’s $412.2m. Year to date, total revenue has risen by 20.2 per cent to $1.02bn (YTD 2023: $849.1m).

Per segment, land-based casino operations had the biggest share of total revenue generated during the month with $211.6m, followed by igaming with $182.3m and sports betting with $67.6m. 

From all operators in New Jersey, $50.2m was paid in taxes to the state for February.

In comparison to the same period the previous year, casino revenue of $211.6m in February was a 1.6 per cent decrease compared to February 2023’s $215m. YTD revenue for the segment stands at $416.3m, down 2.4 per cent YoY (YTD 2023: $426.6m).

Per vertical within casino, slot machine revenue fell by 0.3 per cent YoY to $158.9m (Feb 2023: $159.3m) while table game revenue declined slightly to $52.7m (Feb 2023: $55.6m).

Borgata led the way in terms of revenue in February with $53.6m (Feb 2023: $57.5m), followed by Hard Rock at $41.1m (Feb 2023: $37.5m) and Ocean Casino rounding off the top three with $31.1m (Feb 2023: $26.3m). No other casino generated more than $19m in revenue during the month.

Three casinos saw double-digit percentage YoY revenue declines in February. Harrah’s fell by 14.7 per cent to $18.2m (Feb 2023: $21.4m), Caesars dropped by 13.7 per cent to $16.4m (Feb 2023: $19m), while Bally’s declined by 13.1 per cent to $10.7m (Feb 2023: $12.3m). 

Igaming revenue improved by 27.9 per cent YoY to $182.3m (Feb 2023: $142.6m). YTD, igaming revenue stands at $365.6m, up 23.7 per cent in comparison to the previous year (YTD 2023: $295.5m).

Per operator, Golden Nugget led the way with $51.5m (Feb 2023: $36.5m), Resorts Digital was next with $48m (Feb 2023: $36m) and Borgata completed the top three with $40m (Feb 2023: $39.7m).

While no other igaming operator had more than $12m in revenue during the month, all but three operators – Borgata (0.7 per cent), Harrah’s (N/A) and Caesars Interactive NJ (32.8 per cent decline) – underwent double-digit percentage revenue growth in comparison to the same period the previous year. 

Hard Rock achieved the biggest YoY revenue growth in February, rising by 82.7 per cent to $10.3m (Feb 2023: $5.6m).

Revenue during the month across New Jersey’s sports wagering operators improved by 23.7 per cent to $67.6m (Feb 2023: $54.6m) with a handle of $1.08bn. YTD, sports betting revenue rose by 87.7 per cent to $238.3m (YTD 2023: $127m) with a handle of $2.8bn.

Per operator, Meadowlands/FanDuel/PointsBet/Superbook led the way with $35.1m in revenue (Feb 2023: $32.1m), followed by Resorts Digital/DraftKings with $24.2m (Feb 2023: $12.3m), Borgata/BetMGM with $4.5m (Feb 2023: $4.1m) and Hard Rock/Unibet/bet365 with $3.7m (Feb 2023: $1.3m).

Five operators suffered revenue loss during the month, with the largest coming from Freehold Raceway/ESPNBet/betPARX with a $2.2m loss.

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Data from the New Jersey Division of Gaming Enforcement revealed that total gaming revenue reported by casinos, racetracks, and their online partners was $487.1m for October, a 9.3 per cent increase in comparison to the same month the previous year (October 2022: $445.7m). 

For year-to-date, total gaming revenue stands at $4.77bn, a 10.6 per cent improvement year-over-year (2022: $4.32bn).

Split per vertical, land-based casino revenue bounced back after a negative YoY comparison in September, rising by 3.4 per cent YoY to $228.1m (2022: $220.6m). Igaming revenue improved by 13.3 per cent to $166.8m (2022: $147.2m). Meanwhile, sports betting revenue rose by 18.4 per cent to $92.3m (2022: $77.9m).

For the YTD, land-based casino revenue stands at $2.4bn, up 1.9 per cent YoY (2022: $2.36bn). Igamign revenue stands at $1.57bn, a 15.1 per cent uptick (2022: $1.37bn). Sports betting stands at $801.3m, a 34.7 per cent increase (2022: $594.8m).

Taking a closer look at land-based casinos, the YoY improvement was propped up by gains in table games, revenue from which rose by 19.7 per cent in October to $65.1m (2022: $54.4m). Slot machine revenue, while still being the main contributor, dropped by 1.9 per cent to $163m (2022: $166.2m).

Per land-based operator, Borgata led the way with $56.8m but its revenue declined by 8.9 per cent YoY to (2022: $62.5m). Borgata was followed by Ocean Casino with $43.4m and the biggest YoY increase during the month at 53.3 per cent (2022: $28.3m), and Hard Rock with $41.2m (2022: $39m).

No other casino made more than $18m during October, with four casinos undergoing YoY revenue declines. Caesars dropped the most by 18 per cent to $14.4m (2022: $17.6m), followed by Harrah’s which fell by 11.9 per cent to $17.8m (2022: $20.2m), the previously mentioned Borgata, and Tropicana decreasing by 5.6 per cent to $16.4m (2022: $17.4m).

Per igaming operator, Golden Nugget was top with $49.4m (2022: $38.4m), followed by Resorts Digital with $46m (2022: $39.3m) and Borgata with $35.6m, but this was a 13.2 per cent decline in comparison to the previous year (2022: $41m).

No other igaming operator made more than $9.5m in revenue during October, and one other operator underwent a YoY drop, with Caesars Interactive NJ falling by 34.2 per cent to $6m (2022: $9.2m).

Taking a glance at sports betting operations, only two operators had revenue above $15m. Meadowlands/FanDuel/PointsBet led the way convincingly with $60.2m (2022: $45.4m), followed by Resorts Digital/DraftKings with $15.3m (2022: $17.2m). Borgata/BetMGM was the next closest competitor with $7.8m (2022: $9.5m).

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The figures come from a survey, entitled “The Prevalence of Online and Land-Based Gambling in New Jersey,” funded by the DGE which is a follow-up study to a 2017 report released after the legalisation of sports wagering in the state.

“As New Jersey’s gaming industry continues to grow, we have an obligation to help those suffering from problem gaming and gambling addiction issues,” said New Jersey Attorney General Matthew J. Platkin.

“Through the release of this report, we are taking a comprehensive look at the pervasiveness of gambling across the state, and with it, are able to better identify challenges for our most vulnerable populations and design programs and initiatives to assist them.”

Prepared by a team of researchers led by Dr Lia Nower, JD, PhD from the Rutgers University School of Social Work, Center for Gambling Studies, the report has been released during Responsible Gaming Education Month as part of the month’s final week theme – Advancing responsible gaming with research.

The report surveyed 3,512 state residents aged 18 and over between December 9, 2020 and April 30, 2021, via telephone and online questionnaires, analysing their self-reported patterns of play. 

Questions on the survey covered participation in activities involving consideration, chance, and a prize, as well as questions about 15 activities: lottery, instant scratch-off tickets, high-risk stocks, gaming machines, games of skill, live casino table games, sports wagering, season fantasy sports, bingo, cryptocurrency trading, live poker or poker tournaments, daily fantasy sports, horse race track or off track, esports wagering and keno.

“We encourage both players and operators to maintain a balanced perspective on gambling”

David Rebuck, Director of the New Jersey Division of Gaming Enforcement

David Rebuck, Director of the New Jersey Division of Gaming Enforcement, added: “We are dedicated to helping players play responsibly.

“For some people, this means setting limits to keep the experience enjoyable and social. For others who are struggling with problem gambling, it may mean signing up for self-exclusion or seeking out additional resources. We encourage both players and operators to maintain a balanced perspective on gambling.”

The report is also one of several initiatives made by Platkin to boost responsible gaming in the state, including easier access to self-exclusion, a responsible gaming coordinator, advertising standards and using technology with operators to identify and assist at-risk players.

“New Jersey has led the nation in evaluating every bet placed online and addressing the impact of wagering on its residents,” noted Nower.

“This report provides evidence to guide prevention and education efforts for those at highest risk for gambling problems: Younger adults, members of ethnic and racial minority groups, and those who gamble on multiple activities and bet both online and in land-based venues.”

Some of the findings of the report include that the overall rate of high-risk problem gambling decreased to 5.6 per cent (2017: 6.3 per cent), while low/moderate-risk gambling has fallen to about 13 per cent (2017: 15 per cent).

However, similar to the 2017 report, the report found that New Jersey’s rate of problem gambling is about three times the national average in the US.

Taking a look at vertical findings, sports betting participation has grown to 19 per cent (2017: 15 per cent), online-only gambling participation has tripled to nearly 15 per cent (2017: 5 per cent), retail and online bettors have almost doubled to 36 per cent (2017: 19 per cent), while brick-and-mortar casino gambling has fallen to 49 per cent (2017: 76 per cent).

“We work hard to ensure a fair and safe gaming experience that protects players from adverse gambling consequences2

James Carey, NJ Lottery Executive Director

61 per cent of survey participants took part in one or more of the 15 listed forms of gambling in the prior year (2017: 70 per cent), with those identifying themselves as ‘gamblers’ taking part on average in 3.5 activities (2017: 3 activities).

Using data from the survey, the DGE will be working with partner agencies to review responsible gaming policies, including those that manage other forms of gambling listed in the report including the New Jersey Lottery Commission, the New Jersey Racing Commission, and the New Jersey Division of Consumer Affairs.

“The New Jersey Lottery is invested in responsible gaming principles, and committed to the prevention of underage and problem gambling,” stated James Carey, NJ Lottery Executive Director.

“We work hard to ensure a fair and safe gaming experience that protects players from adverse gambling consequences. Our responsible gaming program is strengthened by our partnership with the Council on Compulsive Gambling of New Jersey.

“Additionally, we receive a third-party review by the World Lottery Association, requiring continuous improvement of our day-to-day responsible gaming operations and programs.”

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22

The Swedish government has announced plans within its 2024 budget to increase the tax on gambling GGR as it believes the country’s market is now stable following legalisation in 2019.

From 1 July 2024, Regeringskansliet plans to increase Sweden’s gambling tax from 18 per cent to 22 per cent in hopes of raising an additional SEK 540m (£39.4m) per year.

With concerns surrounding low channelisation, the Swedish government hopes that by increasing the gambling tax, a channelisation target of 90 per cent can be achieved with little negative impact on the legal market.

The proposal – which can be found on pages 289-290, section 12.20 of the 2024 Budget – is expected to be put forth before the Riksdag for approval in the spring of next year.

However, the Swedish Trade Association for Online Gambling – Branschföreningen för Onlinespel – has argued that the proposed changes don’t take into account the current state of the market and the future it is heading toward.

60

Data from GamCare has indicated that the percentage of people calling the National Gambling Helpline for gambling support related to online slots has almost doubled in the last five years.

With this data in mind and in response to the UK government’s gambling white paper consultation, the gambling support charity is calling for the maximum stake for online slots to be set at £2.

The data revealed that 73 per cent of the 5,660 callers to the National Gambling Helpline last year struggled with online gambling.

Of those who contacted the helpline last year, 60 per cent reported online slots as one of the main gambling activities they were struggling with, which is up from 34 per cent in 2018-19. 

Meanwhile, the proportion of people citing challenges with betting exchanges has risen from 0.3 per cent to 7.6 per cent over the last five years. The percentage of gamblers having problems with online financial markets such as cryptocurrency and high-risk trading platforms has increased from 0.02 per cent to 2.17 per cent.

However, the proportion of those who have had difficulties with online sports betting has decreased, falling from 34 per cent in 2018-19 to 20 per cent in 2022-23.

690,947

Lindar Media Limited, the operator of online casino Mr Q, is facing regulatory action by the UK Gambling Commission and has been ordered to pay £690,947 for social responsibility and anti-money laundering failures.

The regulatory action follows an investigation by the UKGC into Lindar Media, which found failings in the operator’s processes aimed at preventing money laundering and protecting individuals from being harmed or exploited by gambling.

The commission found failings in Lindar Media’s implementation of AML policies, procedures and controls, deficiencies in its responsible gambling policies, procedures, controls and practices, and weaknesses in its reporting arrangements in respect of key events.

54

Tabcorp along with eight venues have been charged by the Victorian Gambling and Casino Control Commission for allegedly allowing minors to gamble.

In breach of the Gambling Regulation Act 2003, Tabcorp faces a total of 54 charges from the VGCCC, including 27 counts of allowing a minor to gamble and failing to reasonably supervise its electronic betting terminals.

The VGCCC has charged eight venues for allowing a minor to gamble, allowing a minor within a gaming machine area and failing to ensure gambling vending machines were reasonably supervised at all times between 8 September 2022 to 1 November 2022.

531.6

New Jersey gaming revenue increased by almost 13 per cent in August in comparison to the previous year, as all verticals saw improvements year-over-year.

Data from the New Jersey Division of Gaming Enforcement stated that total gaming revenue from the Garden State’s casinos, racetracks and their partners in August amounted to $531.6m. This figure was a 12.9 per cent increase on the previous year (August 2022: $470.7m).

For the year-to-date, total gaming revenue currently stands at $3.77bn, up 11.2 per cent YoY (2022: $3.38bn).

New Jersey’s nine casino hotel properties led the way in terms of contribution towards August’s revenue total with $280.3m, followed by igaming with a win of $155.3m and sports wagering with gross revenue of $96m.

August’s casino revenue of $280.3m was a 2.3 per cent uptick in comparison to the previous year (2022: $274m). YTD, casino revenue currently stands at $1.93bn, once again a 2.3 per cent increase YoY (2022: $1.88bn).

Slot machine win generated $210.5m towards the casino total for August, up 3 per cent YoY (2022: $204.3m), while table games amounted to $69.7m, a slight improvement on the previous year (2022: $69.6m).

2025

The Philippine Amusement and Gaming Corporation has declared that it is transitioning to become solely a gambling regulatory agency, moving away from its dual role of an operator and a regulator.

Alejandro H Tengco, CEO and Chair of PAGCOR, stated that the move, to be completed by 2025, has been put in place to fulfil the corporation’s aim of levelling the playing field to “ensure future growth and viability for all gaming industry players”.

“We have started preparing for this transition in earnest, and we are starting where it matters most – within PAGCOR itself,” said Tengco.

Knowing its strengths and limitations, Tengco remarked that PAGCOR aims to become “the gold standard in the Asian gaming scene,” and while it recognises that the shift could impact some employees, it is preparing plans to help those affected avoid displacement, especially those that work in PAGCOR-operated casinos.

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Data from the New Jersey Division of Gaming Enforcement stated that total gaming revenue from the Garden State’s casinos, racetracks and their partners in August amounted to $531.6m. This figure was a 12.9 per cent increase on the previous year (August 2022: $470.7m).

For the year-to-date, total gaming revenue currently stands at $3.77bn, up 11.2 per cent YoY (2022: $3.38bn).

New Jersey’s nine casino hotel properties led the way in terms of contribution towards August’s revenue total with $280.3m, followed by igaming with a win of $155.3m and sports wagering with gross revenue of $96m.

August’s casino revenue of $280.3m was a 2.3 per cent uptick in comparison to the previous year (2022: $274m). YTD, casino revenue currently stands at $1.93bn, once again a 2.3 per cent increase YoY (2022: $1.88bn).

Slot machine win generated $210.5m towards the casino total for August, up 3 per cent YoY (2022: $204.3m), while table games amounted to $69.7m, a slight improvement on the previous year (2022: $69.6m).

Vici Properties-owned and MGM Resorts-operated Borgata was the best-performing casino during the month in terms of revenue with $73m, up 1.5 per cent YoY (2022: $72m), followed by Hard Rock with $50.7m, a 10.7 per cent increase (2022: $45.8m), and Ocean Casino with $39.5m, an 8.1 per cent improvement (2022: $36.6m).

Four casinos reported YoY revenue losses during August. Bally’s was down 4.6 per cent to $15m (2022: $15.7m), Harrah’s decreased by 1.8 per cent to $24.5m (2022: $25m), Resorts dropped by 4.6 per cent to $17.6m (2022: $18.5m), and Tropicana declined by 4.4 per cent to $24.7m (2022: $25.9m).

August’s igaming revenue of $155.3m was an 18.1 per cent improvement on the previous year (2022: $131.4m). YTD, igaming revenue currently stands at $1.24bn, a 14.6 per cent uptick YoY (2022: $1.08bn).

Resorts Digital led the way in terms of igaming revenue with $42.3m, a 37.6 per cent increase YoY (2022: $30.7m), followed by Golden Nugget with $40.8m, up 30 per cent (2022: $31.4m), and Borgata with $40.2m, down 3.8 per cent (2022: $41.8m). No other operator made more than $10m in revenue during the month.

The month’s sports betting gross revenue of $96m was a 47.1 per cent increase in comparison to the previous year (2022: $65.3m). YTD, sports betting gross revenue stands at $597.9m, a 42.7 per cent uptick (2022: $418.9m). The total sports wagering handle for August in New Jersey was $725m, with $697.1m coming from online operators.

Resorts Digital/DraftKings/FoxBet earned the most revenue during the month with $56.9m, up 345.1 per cent YoY (2022: $12.8m), followed by Meadowlands/FanDuel/PointsBet with $25.7m, down 22.5 per cent (2022: $33.2m).

For August, New Jersey gaming operations paid $53.39m to the state in taxes.

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According to data from the New Jersey Division of Gaming Enforcement, New Jersey operators recorded a total gaming revenue figure of $457.2m in June, a 13.9 per cent improvement YoY (June 2022: $401.5m), but down compared to May’s $470.9m.

Per vertical, casino operations contributed $241.6m towards the month’s total revenue, followed by igaming with $149.3m and sports wagering with $66.4m.

Casino gaming’s revenue of $241.6m from the state’s nine casino hotel properties is up 5.4 per cent YoY (2022: $229.1m) and compared to May’s $227.3m.

Per game type, slot machines earned June revenues of $182.98m, a 7 per cent improvement YoY (2022: $171.07m), while table games achieved an income of $58.6m, a slight increase compared to the previous year (2022: $58.1m).

Vici Properties-owned and MGM Resorts-operated Borgata reported the most casino revenue during the month with $60.5m, up 11.6 per cent YoY (2022: $54.3m). 

Borgata was followed by Hard Rock with $43.3m, down 2.8 per cent (2022: $44.6m), and Ocean Casino rounded off the top three with $34.88m with the biggest increase for any casino during the month at 17.6 per cent (2022: $29.67m).

Alongside Hard Rock, three other casinos – Bally’s, Golden Nugget and Tropicana – saw losses of 8.2 per cent, 6 per cent and 1.9 per cent respectively in June compared to the previous year.

New Jersey’s June igaming revenue of $149.3m is 12.1 per cent higher YoY (2022: $133.1m), but down compared to May’s $161.4m.

Leading the way in igaming income was Golden Nugget with $41.8m, up 17 per cent compared to the previous year (2022: $35.7m).

Golden Nugget was followed by Borgata with $39.4m, a 2.8 per cent decrease YoY (2022: $40.5m), and Resorts Digital completed the top three for the month with $35.6m, a 26.8 per cent increase (2022: $28.1m).

However, no other igaming operator earned June revenue of more than $10m, with Caesars Interactive NJ coming the closest with $9.03m, down 3.6 per cent YoY (2022: $9.38m).

Ocean Casino did witness a significant increase in igaming revenue YoY, rising by 106.1 per cent to $4.85m (2022: $2.35m). Hard Rock igaming income fell the most out of all operators compared to the previous year, dropping by 8.1 per cent to $5.5m (2022: $6m).

Sports betting revenue in New Jersey in June rose by 69.1 per cent YoY to $66.4m (2022: $39.2m), but this figure was down compared to May’s $82.2m. The month’s handle was $591.1m, of which $558.6m was from online operations.

Meadowlands/FanDuel/PointsBet was the state’s top sportsbook in terms of revenue with $27.5m, a 28.2 per cent increase YoY (2022: $21.4m), followed by Resorts Digital/DraftKings/FoxBet with $25.3m, up 449.8 per cent (2022: $4.6m).

For June, New Jersey gaming operations paid $45.87m to the state in taxes.

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According to data from the New Jersey Division of Gaming Enforcement (DGE), Garden State’s operators – casinos, racetracks and their partners – achieved a total gaming revenue in March of $487.4m, a 15 per cent improvement YoY on March 2022’s results of $423.7m.

Year to date, New Jersey gaming revenue currently stands at $1.34bn, a 13.4 per cent uptick YoY (2022: $1.18bn).

Top 3 lead New Jersey igaming pack 

A breakdown saw igaming revenues rise by 17.8 per cent YoY in March to $165.7m (2022: $140.7m). YTD, igaming win stood 12.9 per cent higher than the previous year at $461.2m (2022: $408.5m).

The market’s top three were led by Resorts Digital generating $44.9m (2022: $30.8m), followed closely by Borgata with $43.9m (2022: $41.4m) and Golden Nugget with $42.7m (2022: $38.3m). No other operator made more than $8.5m in revenue during the month.

Bally’s saw the biggest YoY increase in terms of revenue, rising by 274.6 per cent to $6.7m (2022: $1.8m), followed by Ocean Casino with a 96 per cent increase to $4.6m (2022: $2.3m), and Resort Digital with a 45.5 per cent improvement.

Only two operators saw their revenue decrease YoY – Tropicana revenue fell by 26.5 per cent to $7.6m (2022: $10.4m) while Caesars Interactive NJ revenue dropped by 15.2 per cent to $8.4m (2022: $9.9m).

Borgata Tops the Broadwalk 

New Jersey’s nine casino hotel properties saw their revenue rise by 5.6 per cent YoY in March to $228.6m (2022: $216.6m). YTD, land-based casino revenue stands at $655.3m, a seven per cent increase (2022: $612.7m).

Per vertical, slot machine win rose by 5.1 per cent during the month to $164.7m (2022: $156.7m) while table games win improved by 6.7 per cent to $63.9m (2022: $59.9m).

YTD, slot revenue is up by 8.2 per cent YoY to $475.9m (2022: $439.7m) while table game revenue has grown by 3.7 per cent to $179.4m (2022: $172.9m).

Borgata was the top land-based casino operator in March with $61.5m in revenue (2022: $55m), followed by Hard Rock with $40m (2022: $39.3m) and Ocean Casino with $34.6m (2022: $25.4m), who also saw their revenues increase by the largest amount – 36.1 per cent.

Four operators saw their revenues decrease during the month – Bally’s revenues fell by 21.7 per cent to $10.6m (2022: $13.5m), Caesars revenue dropped by 7.2 per cent to $17.1m (2022: $18.5m), Golden Nugget revenue declined by 2.8 per cent to $12.3m (2022: $12.6m) and Resorts revenue decreased by 2.6 per cent to $12.7m (2022: $13m).

Borgata/BetMGM witness an NJ sportsbook decline 

New Jersey sports betting operators saw their revenue improve by 40  per cent YoY in March to $93m (2022: $66.4m). YTD, sports wagering gross revenue increased by 39.7 per cent to $220m (2022: $157.5m).

For the month, sports betting handle came in at $1.03bn with $975.2m from online operations. YTD, sports wagering handle stands at $2.96bn with $2.79bn generated online. 

Per operator, Meadowlands/FanDuel/PointsBet was the state’s top sportsbook in terms of revenue with $39.8m, a 7.9 per cent increase (2022: $36.9m).

Next up was Resorts Digital/DraftKings/FoxBet with $29.8m, a 153.6 per cent increase (2022: $11.7m) followed by Borgata/BetMGM with $8.2m, a 23.1 per cent decline (2022: $10.6m), Tropicana/William Hill/Mojo with $5.4m, a 312.8 per cent improvement (2022: $1.3m) and Hard Rock/Unibet/Bet365 with $3m, a 234.9 per cent uptick (2022: $889,689).

No other operator earned more than $1m in March revenue.

For March, New Jersey operators paid $51.3m in taxes to the state, bringing the total amount paid in taxes on the year so far to $139.5m.

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Publishing its fourth quarter and full year 2022 results, the New Jersey Division of Gaming Enforcement declared improvements in revenue for the state’s nine casinos during both measuring periods, rising by 1 per cent in the quarter to $771.9m (2021: $764.1m) and by 9.3 per cent for the full year to $3.3bn (2021: $3.02bn).

However, operating profit for the casinos during both measuring periods decreased, falling by 31.6 per cent during Q4 to $119.3m (2021: $174.5m) and by 4.6 per cent for the full year to $731.3m (2021: $766.9m).

Only four casinos had an operating profit higher during 2022 than what it was in 2019, the last full year before the pandemic.

Speaking to the Associated Press, Mark Giannantonio, President of Resorts Casino and the Casino Association of New Jersey, commented that New Jersey casinos’ finances last year were impacted by inflationary pressures.

“You have revenue that’s not growing fast enough, and couple that with expenses in some categories that are up 20 to 25% or more, and you can see how quickly this can erode profits,” noted Giannantonio.

Hard Rock, Ocean Resort and Bally’s AC were the only casinos in New Jersey that saw their operating profits improve in 2022 compared to 2021. Hard Rock rose by 19.8 per cent to $128m (2021: $106.8m) while Ocean improved by 5.5 per cent to $96.2m (2021: $91.3m).

Although Bally’s had the biggest increase in operating cost at 85.7 per cent, it still came in at a loss of $1.9m (2021: $13.2m).

Resorts Casino saw the biggest decrease in operating income, declining by 23.9 per cent to $21m (2021: $27.6m), followed by Borgata which fell by 19.4 per cent to $140.2m (2021: $174.1m) and Harrah’s which dropped by 10.1 per cent to $89.4m (2021: $99.5m).

Tropicana also tumbled by 7.6 per cent to $109.7m (2021: $118.7m), as well as Caesars by 2.7 per cent to $60.4m (2021: $62.1m) and Golden Nugget declined slightly to $30.7m (2021: $35.6m).

Regarding internet operators, Caesars Interactive Entertainment NJ saw its operating profits rise by 97.7 per cent to $32.8m (2021: $16.6m), Resorts Digital grew by 2.8 per cent to $15.4m (2021: $15m) while GNOG surrendered its online casino licence in May 2022.

Compared to 2019 figures, four casinos – Hard Rock, Ocean, Resorts and Tropicana – earned more in 2022, while Harrah’s came close to breaking even.

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