Atlantic City Casinos Earn $214.6 Million In November Revenue

Written By Hill Kerby on December 20, 2022 - Last Updated on June 19, 2023
Ocean Casino Resort Blackjack

November is typically a slower month for Atlantic City casinos, as many people favor the Shore during the warmer months.

Nonetheless, land-based gaming revenue totaled $214.5 million for the month. The city’s nine casinos had a slight dip from October’s $220.6 million (-2.8%) but were up 3.7% year-over-year after reporting $206.9 million in November 2021. 

Atlantic City casino revenue accounted for nearly 50% of the state’s $441.1 million total gaming revenue (including NJ sports revenue from the three NJ racetracks). iGaming reported $146.2 million in revenue, second all-time, and sports wagering made up the remaining $84.2 million.

Through 11 months, year-to-date revenue is $2.6 billion. Like the YoY increase, YTD numbers also represent a growth in the industry, up 9.7% from last year’s $2.34 billion for the same period.

Atlantic City October revenue by casino

The following table breaks down Atlantic City casino revenue by the property, including figures for table games, slots and poker. 

CasinoTable GamesPokerSlot MachinesTotal Gaming Win
Bally's$2,204,689$ -$7,829,820$10,034,509
Borgata $14,371,124$1,290,363$39,348,832$55,010,319
Caesars$5,884,919$ -$13,121,323$19,006,242
Golden Nugget$2,069,186$ -$9,245,698$11,314,884
Hard Rock$10,220,064$ -$25,253,650$35,473,714
Harrah's$4,405,624 $286,774$16,345,044$21,037,442
Ocean Casino$9,609,650$ -$21,374,931$30,984,581
Resorts $3,116,331$-$9,407,124$12,523,455
Tropicana $4,335,371$66,564$14,748,444$19,150,379
Total $56,216,958$1,643,701$156,674,866$214,535,525

Borgata remains the clear leader

Borgata Hotel Casino & Spa retained its position as the industry leader in the Garden State, generating $55 million in casino revenue. Borgata made less money than in October ($62.4 million; -11.9%), but its YoY revenue increased by 13.9% from October 2021’s $48.3 million. Its slot revenue ($39.3 million) was also more than any other casino’s monthly revenue.

Hard Rock Hotel Casino Atlantic City ($35.5 million; -4.9% YoY) and Ocean Casino Resort ($31 million; 8.7% YoY) followed. Though neither came close to challenging Borgata, both properties broke $30 million for the first time in three months.

Harrah’s Resort ($21 million; -6.4% YoY) was the only other casino above $20 million, as Tropicana ($19.2 million; 2.2% YoY) and Caesars ($19 million; 16.6%) fell just short of that mark. Caesars’ YoY improvement was the highest of all casinos, even surpassing Borgata’s impressive 13.9% growth. 

Resorts ($12.5 million; 3.1% YoY) and Golden Nugget ($11.3 million; -5.3% YoY) followed, with Bally’s ($10 million; -10.1% YoY) barely staying above eight figures after having the highest YoY drop.

Atlantic City casinos experience YTD growth nearly across the board

With one month left in the year, seven of nine casinos have 2022 YTD revenue figures greater than in 2021.

The state’s three largest casinos, Borgata, Hard Rock and Ocean, have also grown the most this year. Despite a poor month, Bally’s is also experiencing double-digit growth.

Meanwhile, Tropicana and Harrah’s will need strong Decembers to display an increase in YoY YTD revenue.

YTD revenue by casino: 

  • Borgata: $663.9 million (+10.4% YoY)
  • Hard Rock: $454.9 million (+15% YoY)
  • Ocean: $327.3 million (+16.8% YoY)
  • Harrah’s: $237.6 million (-2% YoY)
  • Tropicana: $230.5 million (-1.5% YoY)
  • Caesars: $218.7 million (+0.4% YoY)
  • Resorts: $156.1 million (+1% YoY)
  • Bally’s: $142.9 million (+10.4% YoY)
  • Golden Nugget: $137.9 million (+1% YoY)

Atlantic City casino tax revenue is a fraction of iGaming

New Jersey has a casino gross revenue tax of 8%, which brought the state $13.6 million in November and has generated $165.5 million in 2022.

However, iGaming revenue is taxed at 15%, creating even more opportunity for tax revenue in a growing industry.

According to Stockton University’s LIGHT, iGaming is up 248.7% over YTD pre-pandemic numbers from 2019 and is “indisputably a major source of revenue and economic activity for Atlantic City’s casino operators.” Due to these factors, NJ online casinos had a tax bill of $21.7 million in November, nearly 60% greater than retail casino tax revenue. So far, they’ve contributed $226.6 million to the state this year.

Photo by Wayne Parry/AP
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Hill Kerby

Hill Kerby comes from a background of poker, sports and psychology. He brings all of that expertise into his writing, where he contributes content in the growing legalized sports betting, online casino and gambling industry.

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