It’s been a year since two new casinos opened up in Atlantic City. Gambling earnings continue to soar here. This week, the New Jersey Division of Gaming Enforcement revealed that Atlantic City’s July revenue rose by almost 8%.
It’s fantastic news for casinos in this city. Today, we’re looking at how gambling revenue rose last month. We’ll also talk about which casinos earned the most money. Let’s get started!
Reports Show that Atlantic City’s July Revenue Surges
As we’ve already mentioned, gambling revenue in Atlantic City has steadily increased during each month of 2019. This small city has quickly become one of the top gambling hubs in the United States. Part of the reason for this is the legalization of sports betting.
In May of 2018, the US Supreme Court struck down PASPA, giving New Jersey the ability to make sports gambling legal. Lawmakers in the state quickly opened up the sports betting industry, giving new life to the casinos in Atlantic City. Today, each casino here offers sports betting odds for all major sporting events.
It’s clear that more people are choosing to gamble in Atlantic City. Gambling revenue has risen significantly in June. New reports indicate that casinos here earned $323 million, representing an increase of 7.8% from the same month in 2018.
As you might expect, some casinos here are earning more than others. Let’s look at which gambling venues here earned the most money in July.
Borgata Casino Brings in Most Revenue in July
The Borgata is the most popular hotel-casino in New Jersey. For most of 2019, this gambling venue has out-performed all others in Atlantic City. The reports from New Jersey’s Division of Gaming Enforcement show that the Borgata contributed the most to Atlantic City’s July revenue.
This casino managed to bring in $88 million in July. This includes revenue from both casino gambling and sports betting. It’s a massive 15% increase in earnings from July of 2018. Marcus Glover, President and CEO of the Borgata, gave a statement on the huge revenue earnings to the media.
“Playing lucky in table games, complemented by healthy July volumes, led to Borgata enjoying an all-time record in total gaming revenue,” he said.
The Ocean Casino Resort has struggled to generate revenue over the past two years. Fortunately, this gambling establishment managed to bring in $20.1 million in July, an 18% increase from the same month in July. Like the Borgata, Ocean Casino had its best-ever month in July.
Atlantic City Benefits From Regulated Online Gambling Market
New Jersey is one of the few states that regulated online gambling. For years, both online sports betting and casino gambling have been legal and regulated online. As a result, the state is earning millions in additional revenue.
In total, Atlantic City online gambling operators earned $5,907,523 last month. This money also helped to boost Atlantic City’s July revenue by 8%. Much like the land-based casinos, some of these gambling operators are earning more money than others.
The Golden Nugget casino managed to bring in the most money through its online gambling platform last month. It brought in $14,895,411 through its partnership with Betfair. After taxes, the online gambling site made $2,235,257.
There are many unregulated online gambling sites in New Jersey, as well. These websites do not pay taxes to the government and don’t contribute to the state’s gambling revenue earnings.
It’s great to see Atlantic City’s July revenue increase. This city is quickly becoming one of the most popular gambling destinations in the world. Make sure to stay tuned for more updates on Atlantic City casino earnings over the next several months!