The latest data by the New Jersey Division of Gaming Enforcement has shown that the casino properties in Atlantic City managed to bring as much as $211.6 million from in-person gambling last month.
In-Person Gambling Continues Annual Recovery
The results were up 15% on 2022’s results, but they still trailed behind pre-pandemic levels. Retail betting results are not the only strong performers, with horse tracks, sports betting, and online gambling partners all performing strongly in the month, producing a total yield of $436.8 million, or up 14.5% year-over-year.
However, casino executives are not as optimistic about the results. At a time when smoking is a hot-button topic in Atlantic City, many executives have argued that the results as provided by the regulator are not actually reflective of the industry’s health. Casinos also partner with a lot of interactive third parties that are entitled to much of the revenue.
In fact, some 70% of the revenue is shared with such third parties, including tech providers, sportsbooks, online gaming brands and more. While January has still posted another improvement in the results, the month is usually the weakest in terms of revenue for the retail sector. In-person gambling though is the core of casino operations and the best gauge for how healthy the sector is, insiders insist.
Looking at this same metric, Borgata managed to bring in $58.3 million from in-person gamblers, beating the YOY results by 20.6%. Then, there was Hard Rock which brought in $35.9 million, up 3.4%. Most of the other properties also posted a strong increase in their overall results. Ocean Casino Resort won $30.5 million which was a 26.4% increase for the property.
Harrah notched up another 15.9% gain to $20.1 million. Caesars Entertainment $16.8 million, an increase of 5%. Tropicana then added $16.2 million during the month, or up 11.9%. Even Bally’s, which has been struggling with its interactive division, reported $11.5 million, a robust increase of 31.4% in the month. Resorts and Golden Nugget won $11.1 million and $10.9 million, up 20.1% and 5.6% respectively.
Online Gambling Results Continue to Soar in the United States
Factoring in the online gaming revenue, the results change dramatically, with Borgata grabbing the pole position with a total of $105.9 million, up 14.7% year-over-year.
Next is Resorts Digital, which has won $52.9 million, up 22.5%. Golden Nugget managed to post $51.6 million, or up 10.1%, and Hard Rock won $43.2 million, up 2.2%.
Ocean then added a total of $34.6 million, up 31%. Overall, online properties continued to perform strongly, but once again, third parties are entitled to a fair share of the total or around 70% as previously stated.