ATLANTIC CITY — Casino gaming revenue was up for
the ninth consecutive month in February, according to state gaming regulators.
Total gaming revenue for the month was $232.3
million, an increase of 21 percent compared to February 2018, based on data
released Wednesday by the state Division of Gaming Enforcement.
Casino revenue in the resort has increased by
double digits every month since the opening of Hard Rock Hotel & Casino
Atlantic City and Ocean Resort Casino in June. The continued growth of online
casino gaming and the addition of a new revenue source from sports betting have
also contributed to the industry’s winning streak.
Casino win — revenue generated from slot and table
games — was up more than $26 million last month compared to the same time in
2018, an increase of 15.7 percent. Table games accounted for $57 million in
revenue, which is up 24.4 percent. Slot machine win increased by 12.4 percent
with reported revenue last month of $139.6 million.
Sports betting, which was introduced to Atlantic
City casinos in June, reported revenue of $3.875 million for the month. The
figure also includes sports betting revenue generated by online and mobile
partners. The state’s two racetracks that offer sports betting — Monmouth Park
and Meadowlands — reported revenue of $8.86 million. February was the first
time legal bets on the Super Bowl were permitted in New Jersey.
Online and mobile sports betting continued to
account for the majority of wagers in the Garden State. Of the $320.4 million
wagered in February, 80.8 percent was done online or through a mobile
For all your Residential and Commercial Real Estate Appraisal needs please contact:James M. Hanson Associates, Inc.Phone: (609) 884-9185Email: Info@AppraiseNewJersey.comCommunity Resource LinksCape May Chamber of CommerceCape May County Chamber of CommerceAvalon Chamber of CommerceAtlantic City Chamber of Commerce
Mortgage buyer Freddie Mac said yesterday that the average rate on the benchmark 30-year, fixed-rate mortgage rose to 4.46 percent, from 4.45 percent last week. Despite the recent declines, home borrowing rates are above last year's levels. The key 30-year rate averaged 4.22 percent a year ago.
The average rate this week for 15-year, fixed-rate loans ticked up to 3.89 percent from 3.88 percent.
The Federal Reserve held its benchmark interest rate steady Wednesday and sent its strongest signal to date that it sees no need to raise rates anytime soon.
The average fee on 30-year fixed-rate mortgages rose this week to 0.5 point from 0.4 point. The fee on 15-year mortgages held steady at 0.4 point.
The average rate for five-year adjustable-rate mortgages increased to 3.96 percent from 3.90 percent last week. The fee was unchanged at 0.3 point.
were down 2.6% compared to September 2017 but are up 7.7% year-to-date. Prices
were down 2.5% compared to last September and are now the same year-to-date.
Foreclosure sales were 21% of September's sales, down from 23% in September
number of homes for sale during September decreased by 0.6% and is 14.6% below
the 2017 level compared to an 18% shortfall throughout the region. The Months
Supply of Inventory is at 4.9 months, down from 6.0 months a year ago.
were down 2.6% compared to last September but are up 7.7% year-to-date.
Foreclosure sales were down 14% from September 2017 and comprised 21% of all
sales in September while normal sales were up 1.7% from September 2017. The
Property Marketing Period was 44 days, down from 50 days last September.
median sold price in September was down 2.5% from last September and is the
same as 2017 year-to-date. When the foreclosure sales are removed, the
non-foreclosure sales had a median sales price of $195,000 compared $197,000
last September, a 1.0% decrease.
sold price to original list price ratio of 96.2% was above the normal range of
93-95%. In September the sold price to list price ratio was at 98.4% compared
to 98.2% last year.
were down 10.2% compared to last September but are up 30% year-to-date.
Foreclosure sales were 22% of all sales this month and had a median sale price
of $53,000 compared to $154,975 for non-foreclosure sales.
decreased by 45 listings this month but is 8.7% higher than a year ago. The
Months Supply of Inventory dropped to 6.4 in September, compared to 7.0 months
this month were down 10.2% compared to last year but are up 30.4% year-to-date.
median sold price in Cumberland County was up 21.3% compared to a year ago and
is up 8.3% year-to-date.
sold price to original list price ratio was at 95.1% in September and 94.6%
year-to-date. The sale price to list price ratio in September was 98.1%.
Thank you, we'll be in touch!