The New Jersey Division of Gaming Enforcement has announced second quarter results for the state’s gambling industry revealing that net revenue grew by 14%.
Five of Atlantic City’s nine casinos reporting a drop in profits
New Jersey Casinos reported $828.8 million in combined net revenue. This was an increase of 14.1% year-on-year. Despite this, five of Atlantic City’s nine casinos reported lower profits than the same period in 2021. Bally’s reported an operating loss of $3.7 million.
Borgata was the market leader for the period reporting the largest quarterly operating profit of $42.2 million. This was an increase of 4.6% from 2021’s figures. Hard Rock reported $38 million in profits, up 45.9% while Tropicana profits grew by 8.2% to $30.3 million.
New Jersey Q2 Casino Revenue up by 14% Year-on-YearThe latest figures mean that for the first six months of 2022, revenue increased by 19.9% year-on-year to $1.5 billion while gross operating profit was up by 20.9% to $339.3 million.