New Jersey Q2 Casino Revenue up by 14% Year-on-Year

Profits down despite revenue increase

by - Tuesday, August 23rd, 2022 12:53

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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 Q2 Casino Revenue up by 14% Year-on-Year

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-Year

The 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.

Jenny Tang

An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.

New Jersey Q2 Casino Revenue up by 14% Year-on-Year