With the unofficial end to summer during Labor Day weekend, revenue at Atlantic City casinos is expected to decrease in September. And that’s just what happened last month – but to a degree not seen in four years.
The New Jersey Division of Gaming Enforcement reported that properties produced $230.6 million in September revenue. A month-over-month decrease of 21.6% is in line with industry standards after a prime summer month. However, year-over-year totals dipped 6.5%.
While there were some scares over the Atlantic City casino space, it appears as if business is, at least, holding its own. It helped the state achieve $553.8 million in total gambling revenue – which includes land-based, online casinos in New Jersey, and NJ sports betting – for the second-highest total all-time. James T. Plousis, chairman of the New Jersey Casino Control Commission, said in a statement to PlayNJ:
“The ongoing success of internet gaming helped push Atlantic City’s total gaming revenue to its highest figure for the month of September in over a decade.
“For the third consecutive month, total gaming revenue surpassed $500 million. Last year, total gaming revenue eclipsed $500 million only in August.”
Lowest September AC casino revenue total since pandemic
The 6.5% decrease from last September has been an ongoing trend since 2020 for Atlantic City casinos. There’s been a decline each September, from $248.5 million in 2021 to this past month’s total of $230.6 million.
While Atlantic City casino revenue might have been the lowest since 2020, results are clearly above pre-pandemic totals. Here are September totals from 2016 to 2019:
- 2016: $210.4 million
- 2017: $215.4 million
- 2018: $231 million
- 2019: $224.5 million
As the fall and winter continue to progress, revenue is going to decline gradually, which is to be expected.
Atlantic City casinos to take a backseat to iGaming for foreseeable future
July and August are considered primetime months for AC casinos. September is considered a straggler month, where guests try to extend their summer for an extra weekend, or week.
The fall and winter is when online gaming takes over, especially as football and basketball season takes shape. During the month of September, NJ online casinos set another revenue record, producing $208.1 million.
Despite the iGaming record operators set last month, there’s always going to be place for AC casinos, whether it’s during the summer or fall. They’ll be able to co-exist with online casinos, according to Jane Bokunewicz, faculty director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism (LIGHT) at the Stockton University School of Business.
“To be clear, iGaming is not a substitute or replacement for the in-person gaming experience and different patrons may seek different online and in-person gaming products to suit their taste,” she told PlayNJ last month.
“iGaming complements in-person in that it is an extension of the customer experience — a new, often innovative, product that can be accessed on demand.”
While Atlantic City casinos likely won’t get the flashy headlines until next spring or summer, don’t ever count them out.
Breaking down Atlantic City casino revenue
Every AC casinos experienced a decline in month-over-month revenue, which is to be expected for September. However, Ocean Casino Resort had the largest decrease of any property at 35.2%.
On a year-over-year basis, Borgata Atlantic City, as the industry leader, increased nearly 15%. It was the only property to increase from last year.
Ocean Casino also got hit hard from last year, too, as it dipped 27.8% from September 2023.
Resorts, Bally’s, and Golden Nugget also declined slightly, but remained mostly flat.
| Casino | Total Gaming Win | Table Games | Poker | Slot Machines |
|---|---|---|---|---|
| Borgata | $62,395,309 | $19,137,456 | $1,950,431 | $43,257,853 |
| Hard Rock | $44,639,161 | $12,838,101 | --- | $31,801,060 |
| Ocean Casino | $28,455,223 | $4,092,277 | --- | $24,362,946 |
| Caesars | $20,525,853 | $6,845,613 | --- | $13,680,240 |
| Harrah's | $18,610,188 | $3,665,394 | $204,988 | $14,944,794 |
| Tropicana | $17,973,560 | $3,142,333 | $157,192 | $14,831,227 |
| Resorts | $14,358,305 | $2,653,419 | --- | $11,704,886 |
| Bally's | $12,568,128 | $2,813,861 | --- | $9,754,267 |
| Golden Nugget | $11,087,055 | $2,154,830 | --- | $8,932,225 |
| Total | $230,612,782 | $50,497,671 | $2,312,611 | $173,269,498 |
