You probably know that 2015 is looking good for NJ gambling revenue, and here’s why. According to the state’s division of gaming enforcement, the monthly gross revenue reports signal an “upswing” in table games and slot revenues at Atlantic City casinos. The division of gaming enforcement states that citizens can use its website for “the most up to date information about statistical research” involving just how much gambling revenue is filling state of New Jersey coffers.
Another aspect of measuring gambling revenue in New Jersey is linked to division of gaming enforcement “quarterly financial reports.” State gaming officials think the monthly gross revenue reports and quarterly financial reports give citizens and other interested parties an accurate snap-shot of gambling “cash flow” in the state. While this data is posted on the gaming enforcement website, there is a view that most people simply do not know or understand how this massive pot of money is gathered from New Jersey casinos and Internet gaming.
Atlantic City casino profits
According to the New Jersey division of gaming enforcement reports for July 2015, each of the eight Atlantic City casinos reporting earned, on average, between $100 and upwards of $392 million during the first seven months of 2015.
The Atlantic City casino’s earnings reports included the following “gross revenue” via a year-to-date total casino win:
– Bally’s had a total casino win for the first seven months of 2015 of $120,662, 631.
– Borgata stated its total casino win for this period was a record-setting $392,347,614.
– Caesars stated its total casino win for this period was $178,534.458.
– Golden Nugget stated its total casino win for this period was $117,636,472.
– Harrah’s stated its total casino win for this period was $221,142,855.
– Resorts stated its total casino win for this period was $89,661,662.
– Tropicana stated its total casino win for this period was $161,935,799.
– Trump Taj Mahal stated its total casino win for this period was $107,526,545.
In general, the average win or loss percentage for each of these eight Atlantic City casinos was about 17% for table and other games, and about 9% for slot machines. The state of New Jersey mandates all casinos to declare monthly earnings be “true and complete” or risk numerous legal penalties of perjury.
New Jersey casino officials thinking positive
The state’s casino control commission is also bullish on the rise of gaming revenue on its website. For instance, the commission states that all casinos and other gaming in the state are “fair and not rigged.” In turn, its division of gaming enforcement features an “Intake Unit” that helps verify if and how casinos and other gaming is actually returning profits to state coffers. The continued trend of “real growth” in casino revenue also reflects a steady rise in online pokers and other gaming, say commission officials commenting online.
Meanwhile, there is more good news from the state’s casino control commission about an overall “8.1 percent” increase in gambling revenue from last year. In fact, three of Atlantic City’s eight remaining casinos reported “double-digit” increases in gaming revenue during the month of July 2015. The total result from casino table games, slots and online state gambling amounted to about “$260 million in July.” At the same time, the New Jersey Division of Gaming Enforcement recently stated in a press release that only the “Trump Taj Mahal Casino” had a decline in revenues during the month of July.
Total gaming revenue boost in 2015
When the state division of gaming enforcement measures the total Atlantic City gaming revenue for the period between July 2014 and July 2015, there is a rise in gambling earnings for six of the city’s eight casinos. Borgata was up 19.2%, Caesars boosted earnings by 3.10%, while the Golden Nugget had an all-time high rise in earnings of 19.2%. In addition, Harrah’s had a boost of 1.50%, while Resorts bragged about a rise of 20.8% with Tropicana not far behind with an increase of 7.50% in revenue. While state gaming officials are pleased with this result thus far for the first seven months of 2015, they are also optimistic that the remainder of the year will continue with this upward rise in Atlantic City gaming revenue.
New Jersey betting on gambling profit rise
While the Trump Taj Mahal Casino Resort took in an impressive $15.6 million in gaming revenue during the month of April 2015, it was 12 percent less than it did during the same month last year. However, the Taj Mahal is “an exception” when considering that all other gambling profits in the state are currently on an upswing, state officials with New Jersey’s Division of Gaming Enforcement. For instance, officials point to the city’s biggest draw being both the famed Atlantic City boardwalk and the Atlantic Ocean as local attractions to keep visitors gambling in the state.
Overall, there has never been a better time to bet on gambling revenues rising in New Jersey.