In February, Atlantic City casino revenue decreased, marking the second straight month of year-over-year losses in the market.
The New Jersey Division of Gaming Enforcement (DGE) oversees all types of gaming in the Garden State, except for the state-operated lottery. The regulator reported that the nine casinos along the coast produced gross gaming revenue (GGR) of around $211.6 million in February, marking a 1.6% decline from February 2023, when the nine establishments earned nearly $215 million.
James Plousis, chair of the New Jersey Casino Control Commission that supervises the DGE, stated that the February physical casino figures were not unexpected.
"Casino win in the midst of the traditional off-season has been relatively consistent. In each of the past three years, February’s casino win has exceeded $210 million,” Plousis wrote to Casino.org.
Last month, the casinos experienced a downturn, with table game revenue dropping over 5% to $52.7 million. Slot winnings were nearly unchanged at $158.9 million.
Due to a decline in January’s brick-and-mortar casino revenue, Atlantic City’s nine casinos are currently 2.4% lower over the first two months of 2024 compared to the same period last year. The 2.4% variance amounts to roughly $10.3 million.
Income from internet gaming and sports wagering easily compensated for the losses in physical locations.
iGaming GGR, along with online poker rake, surged 28% to reach $182.3 million. The online gaming earnings marked New Jersey’s second-best performance since the sector began in 2013.
Oddsmakers retained approximately $67.5 million from the over $1 billion bet. Sportsbook revenue increased by 24% compared to the previous year.
New Jersey's GGR in February across all sectors reached $461.48 million, which is 12% greater than in February 2023.
Borgata maintained its superiority in the state gaming sector. The casino in the Marina District, managed by MGM Resorts, generated $98.1 million from its casino, iGaming activities, and sportsbooks.
Borgata's casino floor generated $53.6 million, whereas its iGaming and sports betting sectors earned $40 million and $4.5 million, respectively.
Resorts ranked second at $84.3 million, largely earning its revenue online from the Boardwalk property. Although the land-based casino earned only $12.1 million, Resorts’ online gaming platforms made $48 million and the sportsbooks generated $24.2 million.
The Golden Nugget, in third place, also emphasizes online operations, generating $11.6 million from its casino and $51.5 million from its iGaming platforms. Its sports wagering operations recorded a $350K deficit for the month.
Regarding the other casinos, Hard Rock declared a GGR of $55 million, Ocean stated $37.6 million, Tropicana recorded $30.2 million, Bally’s earned $19 million, Harrah’s earned $18.7 million, and Caesars earned $16.3 million.
The revenue figures for the three casinos run by Caesars Entertainment — Caesars, Harrah’s, and Tropicana — were marginally increased, as the company consolidates its iGaming earnings into its Caesars Interactive license. The company’s digital division earned approximately $5.6 million in the month.
March is recognized as Problem Gambling Awareness Month in New Jersey, aligning with the national designation of March as National Problem Gambling Awareness Month.
"This time each year, we pause to acknowledge that some people develop problems with gambling or are at risk for addiction,” Plousis said. “Education and treatment programs are available. If you or anyone you know has a gambling problem, call 1-800-GAMBLER.”
The 1-800-GAMBLER hotline was launched nationwide last year after the Council on Compulsive Gambling of New Jersey consented to provide the number to the National Council on Problem Gambling. The nonprofit located in DC collaborates with state affiliate members to minimize the personal, social, and economic impacts of problem gambling.
If you prefer to send a text rather than make a call, you can contact the 1-800-GAMBLER hotline by texting “800GAM.”
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