Atlantic City casinos finished behind online casinos for revenue for only the second time in the months of January. However, it’s not the retail necessarily had a poor month, considering the vertical increased 2.6% from January 2024.
The New Jersey Division of Gaming Enforcement reported that Atlantic City casinos produced $210.1 million in January revenue. Despite the year-over-year bump, the main story is that the retail sector placed behind online gambling once again.
As Atlantic City faces the height of its offseason, it’s no surprise that revenue is dropping. It is notable that online casinos have picked up as much as they have during winter months. The summer will tell a much more interesting story.
Expert says that Atlantic City casinos should be encouraged
There have been discussions over the last several months the impact iGaming has on the retail industry. It is extremely hard to quantify, which makes for an interesting debate.
There is no denying that the COVID-19 pandemic changed the gambling behavior of consumers at some capacity. Even so, this past January was better than those months in 2019 and 2o20, when casinos recorded $177.3 million and $192.1 million, respectively.
Jane Bokunewicz, faculty director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism (LIGHT) at the Stockton University School of Business, is not worried about the direction of Atlantic City casinos. She said in a statement emailed to PlayNJ:
“Brick-and-mortar gaming is not being left behind by internet gaming. While internet gaming again surpassed brick-and-mortar for total gaming revenue, brick-and-mortar still realized a year-over-year increase in January (despite harsher winter weather than we’ve seen recently). This is an encouraging sign for the year ahead.”
January fell more favorably for properties as it had four full weekends to work with, plus the start of a fifth at the end of the month.
AC casinos dipped on a month-over-month basis
January was not a bad month for Atlantic City casinos by any means. However, the fact that online casinos raced ahead for the second time will command headlines.
Despite the strong month, properties did decline at a 9.4% rate, which not uncommon in recent years.
February could see an extra boost in revenue, considering many establishments hosted Super Bowl parties, which featured the hometown Philadelphia Eagles. It also features Presidents’ Day, which is a three-day weekend for most of the workforce.
Atlantic City casinos must get through the rest of winter and spring before it regains the headline of leading the New Jersey gambling market over the summer.
Breaking down Atlantic City casino January revenue
| Casino | Total Gaming Win | Table Games | Poker | Slot Machines |
|---|---|---|---|---|
| Borgata | $60,365,648 | $17,844,442 | $2,370,579 | $40,150,627 |
| Hard Rock | $38,059,461 | $12,452,894 | $--- | $25,606,567 |
| Ocean Casino | $35,180,322 | $13,437,426 | $--- | $21,742,896 |
| Harrah's | $17,076,683 | $4,076,406 | $226,949 | $12,773,328 |
| Tropicana | $15,078,957 | $3,910,465 | $136,013 | $ 11,032,479 |
| Caesars | $13,674,057 | $3,251,314 | $--- | $10,422,743 |
| Golden Nugget | $10,214,088 | $2,654,916 | $--- | $7,559,172 |
| Resorts | $10,739,749 | $1,967,093 | $--- | $8,772,656 |
| Bally's | $9,668,742 | $2,288,429 | $--- | $7,380,313 |
| Total | $210,057,707 | $61,883,385 | $2,733,541 | $145,440,781 |
