The New Jersey Division of Gaming Enforcement reported $547.8 million in revenue for July on Friday, though Atlantic City casinos had a year-over-year decline in operator winnings.
The overall figure represented an increase of 8.2% from the $506.2 million reported for July 2023. Both sportsbooks and internet casino revenue had double-digit year-over-year growth, with sports betting revenue up 31.2% to $80 million and iGaming winnings increasing 25.9% to a total of $195.4 million. The latter was the second-highest total in state history behind the $197.2 million haul recorded in March.
Brick-and-mortar venues, though, failed to keep pace as the $272.3 million in revenue was down 6.1% from 12 months prior. That dragged the year-to-date revenue from the nine Atlantic City casinos behind last year's pace — the $1.63 billion in casino win through the first seven months of 2024 is 1% lower than the same span from 2023.
The state collected $56.8 million in tax revenue from the three gaming disciplines, with internet casino gaming accounting for more than half that total with $29.4 million. Atlantic City venues remitted $17.1 million in receipts to Trenton, with the remaining $10.3 million coming from sportsbooks.
New Jersey Gaming Revenue in July
The Borgata Swings for the Fences
Summertime is the most important part of the year for Atlantic City casinos as they look to attract tourists and regulars along the boardwalk, making aggressive promotional offers for both slots and table games.
Though the Borgata comfortably led the nine casinos in revenue with close to $76 million, that was 3.3% less compared to last year. It was not due to lack of effort as the Borgata offered $17.2 million in total promotional credits — an all-time monthly high for the venue — but the $105.3 million drop for table games was a 13.2% decline from July 2023.
That contributed to a 2.4% drop in winnings from the felt to $19.8 million. Despite a 5.8% increase in slot drop to $649.2 million — the highest monthly total recorded dating back to January 2015 — a year-low 8.5% hold yielded $54.9 million that was down 3.7%.
Only three of the nine casinos had year-over-year gains, and none exceeded Hard Rock's 3% in terms of percentage. The $54.7 million in revenue marked an all-time high since opening on the boardwalk in 2018 and the fourth time overall Hard Rock raked in $50 million for a month. A 5% bounce in slot revenue to $39.5 million keyed the increase as Hard Rock's hold was just shy of 10% against a year-best $396.1 million in drop.
Ocean Casino grabbed the final podium spot for monthly winnings with $36.5 million, down 3.3% from last July. Bettors fared well on the felt, limiting the house to a 9.3% hold and $6.6 million — down 22% from last year. The record $29.9 million in slot revenue was up 2.1% from 12 months prior.
Resorts ($15.5 million) and Golden Nugget ($14.1 million) were the only other casinos with year-over-year gains as Resorts ticked 1.9% higher and Golden Nugget 0.7%. On the flip side, Harrah's had the biggest year-over-year revenue drop at 23.9% to $19.2 million, as action dropped considerably for both disciplines — table games wagering plummeted 27% while slot drop tumbled 18.4%.
Bally's table games revenue dropped by nearly half from last July to $2.6 million, contributing to a 22.7% downturn in total revenue to $13.4 million. Tropicana was the only other venue to finish above $20 million for July — its $23.1 million in winnings was down 4.2% from 2023.
DraftKings Paces iGaming Revenue Totals
Four of the eight casinos licensed to conduct internet casino wagering posted all-time monthly highs in July, while Golden Nugget's combined haul of $53.5 million from all operators led Atlantic City venues.
FanDuel supplied Golden Nugget with the largest chunk of its total at $37.8 million, good for second among all individual platforms in July. Golden Nugget's own iGaming platform had a year-best $8.7 million, and BetRivers contributed $6.6 million. It was the only casino licensee to have three operator platforms in the top 10 for revenue in July as Golden Nugget ranked seventh and BetRivers eighth.
The Borgata had an all-time high of $47.1 million as both its internal platform ($18.8 million) and BetMGM ($25.2 million) had year-to-date highs as both platforms ranked in the top four. The Borgata's previous high of $44.1 million came in April, and July's figure was up 9.4% from last year.
DraftKings was the only operator to clear $40 million in winnings for July — its $41.7 million haul was its second-best of 2024 behind the $42.2 million accrued in May. Resorts finished just shy of $49 million overall as a licensee as all five platforms reached seven figures in revenue. ESPN BET rounded out the top-10 with $2.8 million in winnings.
Caesars Palace Online, which moved under the Tropicana license, rounded out the top five for operators at $12.2 million. The Tropicana as a whole had a 2024-best of $17.7 million, boosted by WSOP's year-high $1.7 million in winnings.
Hard Rock was the last of the six platforms to post an eight-figure revenue total for July at $10.3 million, part of a year-best $12.2 million total overall. Bally's also set an all-time overall mark at $9.8 million, with its operating platform ranking ninth with $5.7 million in winnings. Fanatics chipped in nearly $2.5 million thanks to a 33% increase in winnings from June.
