In September this year, the combined revenue of casinos, horse tracks, and their online counterparts offering gambling services reached $485 million, marking a growth of almost 7% compared to September 2021.
In another significant development, Hard Rock and Ocean collectively surpassed the revenue generated by Atlantic City’s Casino industry in September 2019, prior to the implementation of COVID restrictions. Their combined earnings for the previous month reached $252 million, marking a 1.3% increase.
The revenue generated from gamblers visiting in-person is a crucial measure for the seaside gambling resort’s recovery from the economic consequences of COVID restrictions. Encouragingly, last month, six out of the nine casinos managed to surpass their earnings from in-person gamblers compared to September 2019.
Jane Bokunewicz, the director of the Lloyd Levenson Institute at Stockton University, stated that the pleasant weather in September played a significant role in the successful beginning of the fall season for Atlantic City’s casino operators. Bokunewicz also mentioned that if the current trend continues, the casino operators in Atlantic City are expected to achieve and possibly surpass the revenue levels seen before the pandemic, both in terms of physical casino operations and overall gaming revenue by the end of the year.
According to the Casino Association of New Jersey, Bally’s experienced a 10.3% decline, Borgata saw a 1.2% decrease, Caesars had a 9.3% drop, Golden Nugget witnessed a 25.2% decrease, Harrah’s observed a 17.2% decline, Resorts had a 5.9% decrease, and Tropicana faced a 16.8% decline in the first nine months of this year compared to the same period in September 2019.
In September of this year, Atlantic City’s trio of horse racing tracks, which provide sports betting services, generated a total of approximately $867 million, resulting in a net revenue of around $98 million. This remarkable performance contributed to a 19% increase in the sports betting revenue sector compared to the same period last year.
Last month, online casinos generated a revenue of $135 million, marking a growth of more than 10% compared to September of the previous year.
- Bally’s online revenue has surged to $3.7 million, a significant increase from last year’s $337,000. Additionally, they have earned $905,000 from sports betting, compared to $126,000 previously. In-person gambling has also contributed significantly, generating $15.9 million in revenue.
- Borgata’s online revenue increased by 7.6% to reach $41.1 million. However, their sports betting revenue declined to $10 million, compared to $13.4 million in the previous year. On the other hand, they experienced a 3.5% increase in earnings from in-person gamblers, totaling $62.3 million.
- Caesars witnessed a significant increase in sports bets, totaling $1.5 million, in comparison to the $380,000 loss experienced last year. Additionally, they recorded a revenue of $22.4 million from in-person gamblers, marking a slight 1.8% growth.
- The Golden Nugget reported a significant increase in its online revenue, reaching $34 million, which reflects a growth of 10%. Additionally, their sports betting sector experienced a substantial surge, generating $224,000 in revenue, representing an impressive rise of almost 100%. Moreover, the casino witnessed a notable increase in earnings from in-person gamblers, totaling $13.5 million, showcasing a growth rate of 4.3%.
- Hard Rock reported a decrease of 2% in online revenue, amounting to $5.7 million. The sports betting sector contributed $1.8 million to this figure, which remained relatively unchanged compared to the previous year. On the other hand, revenue from in-person gamblers showed a significant increase of 6.3%, reaching $43.6 million.
- Harrah’s experienced a decline in their online earnings, losing $83,000, in contrast to their earnings of $386,000 last year. Additionally, their in-person gambling revenue dropped by 15.5% to $23.2 million.
- The Ocean’s online revenue increased to $2.4 million, which is double the amount earned in the previous year. However, sports bets dropped from $1.6 million to $536,000. On the other hand, in-person gamblers contributed $30.6 million, showing a 5.2% increase.
- Resorts and its online affiliate, Resorts Digital, experienced a 20.5% increase in revenue, amounting to $34 million. Sports bets through online platforms reached $229,000, which is half of the previous year’s total. Additionally, in-person gamblers contributed $16.7 million to Resorts’ earnings, reflecting a 3% decrease.
- Tropicana’s online revenue witnessed a decline of 32% to $4.9 million, while their in-person gamblers contributed $23.3 million, marking a 4% decrease.
- Caesars Interactive Entertainment reported a decline of 11%, with online revenues amounting to $9 million.
