New Jersey and Massachusetts Casinos Hit Record Highs
Online casinos in New Jersey have reached a new revenue high while land-based venues in Massachusetts are setting records as well.
Online casino gaming and land-based venues are thriving in the United States. As new monthly revenue total reports are issued to the public, we see new records being set all the time. The July totals are now out for the online gambling market in New Jersey as well as the land-based sector in Massachusetts, both showing an uptick in earnings. Both states have been able to set new records in their respective markets.
New Jersey Reaches Over $118m in July
Online gaming is booming in the Garden State. July hit an all-time revenue high, with $118.6 million earned. This total beat the previous record from March 2021 by just under $5 million. When compared to July 2020, the totals are up more than 30%.
The revenue figures are interesting to consider, especially when compared to last year. In July 2020, the public were at home, as casinos were not operational at 100% capacity and the threat of the COVID-19 pandemic was still in play. This year, the pandemic is still an issue, but people are traveling and going out more. Casinos are operating at full capacity.
Despite the land-based options being open, it does not seem to be taking away from the online gambling sector’s earnings. Players are still logging on and enjoying casino games from home or on the go.
For July, each casino in New Jersey saw an increase in total earnings. The Hard Rock was up over 79% from last year with more than $55 million in earnings. The Golden Nugget jumped 77% with $15.5 million in earnings. Each casino was able to see an uptick due to visitor numbers.
Massachusetts Land-Based Record
Now, let’s move to a neighboring state. The three casinos in Massachusetts have seen a nice increase in earnings as well, bringing in just over $95 million for the month. This was the largest monthly total for the MGM Springfield, the Encore Boston Harbor, and Plainridge Park ever in the history of operations.
The Encore Boston Harbor earned the most, with $59 million for July. This was a record for the venue as well. MGM Springfield came in next with $23.7 million. Plainridge Park almost earned $13 million for the month.
Because of the record earnings, the state was able to receive over $27 million in tax payments. MGM and Encore must pays 25% of earnings to the state while Plainridge Park pays a much higher 49% due to being a slot parlor style venue.
Gamblers Out in Full Force
In 2020, the lack of entertainment was a big deal to millions of people. When the pandemic began, entertainment venues like casinos shut down. Even though we are still dealing with COVID-19, casinos are 100% operational in most states, including Massachusetts.
Visitor numbers are increasing as people are taking summer vacations or enjoying weekend getaways. With vaccination rates up, it seems more people are willing to travel, which his helping the visitor numbers at the Encore and MGM Springfield shoot up.
We could see similar totals in August as more vacations and short trips are taken by residents living in other states. For Massachusetts, the July totals are wild and a new benchmark for the state. The previous best month for the state was May of this year when revenues reached $87 million.
It will be interesting to see if the state can beat the new record it just set or if revenue totals will start to decrease once again.