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Aristocrat Interactive Games Now Live on Hard Rock Bet in New Jersey
Atlantic City Gambling Soars by 20% in November
December 17, 2018 Jim Murphy
New Jersey gambling regulator, Division of Gaming Enforcement, has published November’s gross gaming revenue figures for both the entire state and Atlantic City’s casinos alone…
…In their financial report, it’s noted that AC casino resorts made a 20% year-on-year surge, by making $247.65 million! Last year’s November GGR amounted to $206.4 million.
This year’s opening of successful in the state.
Another Great Month
The sports betting revenue from two sportsbooks at horse racing venues yielded a 25% gaming industry increase to $257.37 million for New Jersey. Looking at the financial outcome year to date, state has amassed $2.6 billion from online and land-based casinos and sports betting.
November marks the sixth consecutive month of Atlantic City’s gaming revenue growth, and seventh in total during 2018.
The Casino Control Commission’s chairman, James Plousis, commented: “November was another strong month for the casino industry The stage is set for 2018 to be the third straight year of growth in Atlantic City.”
Sports betting raked in $11.5 million last month in Atlantic City, while operators took more than $330 million in sports wagers. Atlantic City has earned more than $40 million on sports betting since this particular gaming segment launched in June…
…that came from more than $928 million placed in sports wagers.
This prompted some, like Dustin Gouker, PlayNJ.com’s sports betting analysts, to say:
“New Jersey continues its march toward becoming the nation’s largest legal sports betting market. The main driver is online sports betting, which now s for the vast majority of all bets in New Jersey. The state’s embrace of mobile betting has shown the path forward for any other state planning on legalizing and regulating sports betting.”
But is it Real?
The amount of growth for November surprised some, like Rummy Pandit, Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism at Stockton University executive director.
However:
Through September, yearly gross operating profits compared to 2017’s results were 9.3% slimmer, which leads some experts to believe that Atlantic City cannot handle nine casinos.
AC’s officials have already begun making strategies to put Atlantic City in even more of a spotlight…
…the 2019 ad campaign that will target out-of-towners has already been approved along with its astronomical budget. This should increase the number of visitors and tourists willing to spend in city’s casinos.
Despite that, Pandit is absolutely adamant that gambling industry in NJ will sur the $3 billion mark in 2019 – he has a firm belief in a continuation of a growing trend for internet gaming whose revenue skyrocketed by 30.7% compared to November 2017 to earn $26.9 million.
Source:
“Atlantic City casino revenue increased 20 percent in November”, David Danzis, pressofatlanticcity.com, December 12, 2018.
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Looking good so far, but like some have already said, we’ll see if this is a tad too inflated due to temporary mania with Hard Rock and Ocean Resort.