Gambling revenue in Atlantic City hits impressive highs during July
While Atlantic City experienced a slightly disappointing second quarter, the Atlantic City Gambling Revenue report in July 2022 was all about positivity and new highs. In fact, one record was completely broken with figures on the whole being at their highest levels since 2016. There is no other way of describing July’s figures other than being amazing – the month saw revenue almost hit the $300 million mark. According to the New Jersey Division of Gaming Enforcement, these figures represent a huge jump from what was recorded in June.
To be fair, June hadn’t been a bad month in itself, with earnings coming in at $229 million. To see July’s revenue grow by some 31% is truly unbelievable. While the nine casinos have had good months in the past, you have to back to November 2016 to find when revenues last exceeded $300 million.
The hope is that this all signals that Atlantic City casinos are heading back to where they were pre-Covid. Now that restrictions have been completely shelved, all sectors are on the path to recovery and casinos are almost back to where they were. It’s not just the gambling industry that’s on the up: retailers have reported revenue exceeding $212 million for the last six months in a row.
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July’s jump leaves the Atlantic City Gambling Revenue in a strong position
Compared to last year, it’s fair to say that casinos in Atlantic City are in a great position. With just over $1.6 billion in earnings for the first seven months of 2022, the casinos are significantly ahead of where they were at the same time last year.
Perhaps looking at last year, or even the year before isn’t the best judge as to how Atlantic City is performing right now. The two pandemic years saw profits plunge and any comparisons are less than meaningful. To get a true feel of how well the sector here is performing, you need to be making comparisons with 2019. The good news here is that July 2022 has far beaten all that July 2019 brought with a gap as large as $22 million.
The reality is that Atlantic City would usually expect a good June and July: it’s just how those months go. However, a boost of more than 30% is something that’s more than just a little worthy of note and is something that completely smashed all forecasts.
We’ll be looking at this in more detail soon, but it was the Borgata that led the pack in terms of revenue. It managed to clock up just shy of $77 million. If you look at last year, this represents a 21% increase and if you look at June this $77 million is a 41% boost.
Ocean Casino also has plenty to be pleased about. With revenue going past the $40 million mark it’s boasting a 33.2% rise from last year. This saw the Ocean being the third best performer and only just behind the second-placed Hard Rock.
Hard Rock itself saw profits just missing $53 million, which represents a 10.8% increase year on year. It’s also an impressive 19% up on June.
While all casinos in Atlantic City were up on June, there were some trailing in terms of their year-on-year figures. Those lacking behind are:
- Caesars
- Golden Nugget
- Harrah’s
- Resorts
- Tropicana
A more detailed look at the spending – Atlantic City Gambling Revenue Report
So, just where did these casinos come good, and what games saw them falling short? Let’s have a look at each of these in turn:
Bally’s
- Table and other games – $4, 041, 541
- Poker – N/A
- Slots – $12, 778, 755
- Totals – $16, 820, 296
Borgata
- Table and other games – $21, 678, 595
- Poker – $1, 394, 168
- Slots – $53, 657, 028
- Totals – $76, 729, 791
Caesars
- Table and other games – $8, 496, 504
- Poker – N/A
- Slots – $16, 659, 718
- Totals – $25, 156, 222
Golden Nugget
- Table and other games – $2, 346, 547
- Poker – N/A
- Slots – $12, 140, 463
- Totals – $14, 487, 010
Hard Rock
- Table and other games – $17, 063, 188
- Poker – N/A
- Slots – $35, 827, 283
- Totals – $52, 890, 471
Harrah’s
- Table and other games – $5, 764, 556
- Poker – $293, 477
- Slots – $20, 374, 006
- Totals – $26, 432, 039
Ocean Casino
- Table and other games – $12, 817, 265
- Poker – N/A
- Slots – $27, 553, 500
- Totals -$40, 370, 765
Resorts
- Table and other games – $3, 361, 331
- Poker – N/A
- Slots – $14, 780, 010
- Totals – $18, 141 341
Tropicana
- Table and other games – $5, 656, 037
- Poker – $227, 846
- Slots – $22, 078, 805
- Totals – $27, 962, 688
Totals
- Table and other games – $81, 255, 564
- Poker – $1, 915, 491
- Slots – $215, 849, 568
- Grand total – $298, 990, 623
Table games on the up
July was a great month for table games at Atlantic City, New Jersey casinos. June saw blackjack, baccarat, roulette and other casino games in the table game category racking g up just $58 million whereas July was just shy of $82 million. With a 15% increase, it has to be said that table games have seen a great recovery.
Slots were up too but not by such an impressive margin. Racking up just under $216 million, there was a 5.5% increase year on year. What this really shows is that the popularity of slots seems to endure regardless of what else may be happening. Slots in June brought in around $45 million and so July enjoyed a 26% increase in comparison. Now’s the time to start looking at where figures for August ended too.
Borgata’s record month
We mentioned at the beginning of this article that Borgata was at the fore when it came to July’s figures. The money generated in that month set a new record as the best month ever for any Atlantic City casino.
While the US has seen some disappointing figures across the board when it comes to gambling revenue, there are signs that this is all set to change. Certainly, Atlantic City casinos, and Borgata in particular, are bucking the trend and showing other states that there is light at the end of the Covid tunnel.
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