Atlantic City casino operators, as has been expected, are enjoying monthly increases in gross gaming revenue as a more vaccinated and more confident collection of residents venture forth to the city to gamble.
February’s statewide gaming revenue of $148.2 million was followed by March’s $184.9 million, April’s $189.6 million, and — per figures released on Wednesday by the state Division of Gaming Enforcement — $213.1 million in May.
A key question has been whether industry-best online casino gaming numbers would be impacted negatively by the visits, as consumers increasingly had that more traditional option.
But that hasn’t happened — nor have state regulators expected it to happen, as DGE Director David Rebuck has insisted for years that “there is no cannibalization.”
Sure enough, online casino revenue hardly has wavered: $93.8 million in February, a record $113.7 million in March, $107.7 million in April, and last month $108.2 million.
With December 2020 having been the first month at the $100 million milestone, it now seems quite possible that the industry — born in November 2013 and followed by a slow, steady, annual increase — is settling at that number in maturity.
Sports betting handle also steady
While sports betting — 90.2% of which was done online in May, with the rest being bet at AC casinos and the state’s three racetracks — has a seasonal component to it, the wagering handle has not fluctuated that wildly in 2021.
The $814.3 million legally bet in the state in May compares to $748 million in April, $859.6 during March and its Madness, $743 million in a 28-day, mostly football-free February, and $958.7 million in January.
The professional sports bettor known as Captain Jack Andrews sets a line (for amusement purposes only) each month on NJ betting handle. For May, it was over $785 million or under $755 million, and with the majority predicting under, the industry modestly exceeded expectations.
NJ DGE will release the May 2021 Revenue Numbers tomorrow at 2pm ET.
That means it's time for the AlfoJack Power Number💪.@astraffon and I set a line on amount wagered at $770 million with a 2% straddle in each direction.
What say you?🧐
— Captain Jack Andrews (@capjack2000) June 15, 2021
Nearly $1 billion of the $4.1 billion in completed wagers for 2021 in total came from multi-bet parlay wagering, and the books have kept a savory 17.6% of those dollars.
Gamblers have done far better on basketball, losing a scant 3.2% of their money collectively. That beats baseball (5%) as well as football (5.6%) and all other sports combined (4.8%).
One area that has not fared as well is online poker, where revenue dropped from $4.5 million in May 2020 — in the midst of the pandemic, when gamblers flocked to online competition — to $2.4 million last month. The latter figure is only slightly higher than what was typically seen in a month in New Jersey pre-pandemic.
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