Atlantic City Casino Revenue Declines for Second Straight Month


In February, Atlantic City experienced a downturn in casino revenue, marking the second consecutive month of year-over-year decline in the market’s monthly earnings.

Regulated by the New Jersey Division of Gaming Enforcement (DGE), which oversees all gaming activities in the state except for the lottery, the nine casinos along the shore generated a gross gaming revenue (GGR) of approximately $211.6 million. This reflects a 1.6% decrease from February 2023, when the properties amassed nearly $215 million in earnings.

James Plousis, Chair of the New Jersey Casino Control Commission, expressed that the decrease in brick-and-mortar revenue for February did not come as a surprise.

Table games saw a decline of over 5% in revenue, amounting to $52.7 million, while slot earnings remained relatively stable at $158.9 million.

Following a decrease in January, the cumulative casino revenue for Atlantic City’s nine establishments in the first two months of 2024 stands 2.4% lower compared to the same period last year, representing a shortfall of approximately $10.3 million.

In contrast, revenue from online gaming and sports betting continued to surge, effectively offsetting the decline witnessed in brick-and-mortar establishments.

Online gaming GGR, including poker rake collected online, experienced a notable 28% increase, reaching $182.3 million. This figure marks the second-highest result since the inception of online gaming in New Jersey in 2013.

Moreover, sportsbook revenue showed a robust 24% year-over-year growth, with oddsmakers retaining around $67.5 million out of the more than $1 billion wagered.

Overall, New Jersey’s gaming revenue across all verticals in February amounted to $461.48 million, representing a 12% increase compared to February 2023.

Borgata maintained its dominance in the state’s gaming industry, with a total win of $98.1 million from its casino operations, iGaming activities, and sportsbooks. Notably, the casino floor contributed $53.6 million to Borgata’s earnings, while its online gaming and sports betting platforms respectively generated $40 million and $4.5 million in revenue.

Following Borgata, Resorts ranked second with a total revenue of $84.3 million, primarily driven by its online operations. While its physical casino earnings stood at $12.1 million, Resorts’ online gaming sites generated $48 million, and its sportsbooks contributed $24.2 million to the overall revenue.

Golden Nugget secured the third position, with a focus on online gaming. Its casino revenue amounted to $11.6 million, while its iGaming platforms recorded $51.5 million in earnings. However, its sports betting business incurred a loss of $350,000 for the month.

Other notable revenue figures include Hard Rock with $55 million, Ocean with $37.6 million, Tropicana with $30.2 million, Bally’s with $19 million, Harrah’s with $18.7 million, and Caesars with $16.3 million.

Additionally, it’s worth mentioning that Caesars Entertainment’s three casinos – Caesars, Harrah’s, and Tropicana – reported slightly higher revenue figures, as the company consolidates its iGaming revenue under its Caesars Interactive license, totaling approximately $5.6 million for the month.

As March marks Problem Gambling Awareness Month in New Jersey, initiatives are underway to raise awareness about responsible gaming practices. The 1-800-GAMBLER hotline, operated by the Council on Compulsive Gambling of New Jersey, remains a crucial resource for those seeking support, with text messaging options also available.

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