The time to shine for Atlantic City casinos is during the summer months. After the industry endured a disappointing July, the New Jersey Division of Gaming Enforcement reported that properties produced $294 million in August revenue.
It marked the best single month for retail casinos in over two years. What’s more, it was the third-highest revenue total in a single month going back to 2016.
There had been concerns of in-person gambling revenue not reaching the standard it normally hits on a seasonal basis, as the summer months are considered crucial. However, properties rebounded in a nice way last month, and perhaps silenced some of the critics, for now.
“Overall business in Atlantic City remains stable, with operators gaining competitive advantage from a unique combination of impressive gaming options and first class in-person experiences,” James T. Plousis, chairman of the New Jersey Casino Control Commission, said in a statement.
“There is great opportunity for continued momentum in the fall season.”
Atlantic City casinos hit 2024 high in August
The Atlantic City casino industry had been under scrutiny lately for down performances, especially in July, during the heart of summer. In August, though, properties produced its highest total over the last two years and the third-best month since 2016.
AC casinos benefitted from an August bump, which the city needed badly. Here are month-by-month totals from 2024:
- January: $205 million
- February: $211.6 million
- March: $239.7 million
- April: $216.8 million
- May: $239.1 million
- June: $244.1 million
- July: $272.3 million
- August: $294 million
August had nine weekend days compared to the eight in July, which could have caused a bump in totals. Also, Labor Day weekend started in August, which could have led to more casino-goers starting their holiday weekend early.
Atlantic City casinos experienced an 8% month-over-month increase and a 4.9% year-over-year increase.
In-person revenue trending up alongside NJ online casinos
It has been well-publicized how NJ online casinos have grown astronomically in the Garden State while retail locations have remained stagnant over a period of time. In August, both verticals took massive steps forward.
Online casino operators have been stealing the headlines as of late, setting a record for monthly revenue in August. However, AC facilities casinos boasted a strong month of July and grew revenue at a higher rate than online platforms.
August just saw a 1.5% month-over-month increase in online casino earnings, despite setting a new bar. Land-based casinos, as previously mentioned, experienced an 8% growth in Atlantic City casino revenue.
Totals are expected to drop in Atlantic as the fall approaches, but it’s a good sign that properties can still flirt with $300 million of revenue during a key summer month.
Breaking down Atlantic City casino revenue
Despite Borgata Atlantic City being the top facility in New Jersey, it actually declined in month-over-month revenue. The property reported $74.2 million, which is a 2.4% drop from July.
Every other property experienced increases from July. The ones with the biggest include:
- Harrah’s Atlantic City: 30.7% month-over-month increase
- Ocean Casino Resort: 20.5% month-over-month increase
- Caesars Casino: 20% month-over-month increase
Revenue is expected to drop as the fall approaches. However, Atlantic City casinos ended the 2024 summer on a high note.
| Casino | Total Gaming Win | Table Games | Poker | Slot Machines |
|---|---|---|---|---|
| Borgata | $74,191,751 | $19,272,954 | $1,356,300 | $53,562,497 |
| Hard Rock | $55,376,590 | $15,311,038 | --- | $40,065,552 |
| Ocean Casino | $44,043,639 | $12,120,276 | --- | $31,923,363 |
| Harrah's | $25,110,944 | $4,540,724 | $244,364 | $20,325,856 |
| Tropicana | $24,941,126 | $4,508,241 | $200,673 | $20,232,212 |
| Caesars | $24,014,975 | $6,221,904 | --- | $17,793,071 |
| Resorts | $16,092,965 | $2,038,753 | --- | $14,054,212 |
| Bally's | $15,638,296 | $3,118,852 | --- | $12,519,444 |
| Golden Nugget | $14,630,081 | $3,475,136 | --- | $11,154,945 |
| Total | $294,040,367 | $70,607,878 | $1,801,337 | $221,631,152 |
