Operator News

Eight out nine Atlantic City casinos enjoy growth in March as online continues to boom

By Phil - 17 April 2024

Online gambling rocketed to new heights in March in New Jersey increasing by 20 per cent to $197.2m, prompting an overall gambling high of $526.6m for the Garden State.

There was good news forand despite in-person betting in casinos too with every casino aprt from market-leader Borgata, posting a positive trajectory compared to last year.

Revenue from land-based gambling came in at $239.8m, up 4.9 per cent year-on-year and 14.1 per cent from last month. Whilst that total was better, slightly, than the collectively total pre-pandemic, only two casinos performed better than they did in the March before the pandemic.

Slots were up 4.8 per cent to $172.7m whilst tables were up 4.9 per cent at $67m.

In terms in land-based results, Borgata led the way again with GGR of $56.5m , marking a fall of 8.1 per cent. Hard Rock was up 11 per cent at $44.3m, whilst Ocean was also up by 17.6 per cent at $40.6m. Small gains were felt at Harrah’s, up two per cent at $21m and Tropicana who saw an increase of 2.5 per cent to $19.8. Caesars enjoyed an eight per cent increase taking its total to $18.5m whilst Golden Nugget was up 11.4 per cent at $13.6. Resorts enjoyed a six per cent increase to $13.4m and Bally’s saw an 11.2 per cent rise to $11.7m.

Online betting continued to grab the headlines though, up 19.9 per cent to $197.2m. Online gaming generated $42.6m with online slots up 19.4 per cen to $194.8m. Golden Nuggetled the online market with revenue of $57.1m. Resorts Digital came in second placed with $48.9m, followed by Borgata with $43.8m.

Whilst sports betting revenue dropped by 3.6 per cent to $89.7m, this was a 32.7 per cent improvement from February’s $67.6m, a month earlier. Meadowlands led the betting market with partners FanDuel, PointsBet and SuperBook.

For 2024 so far, collective market revenue for the three months to the end of March came in at $1.55bn, showing a 15.7 per cent improvement on the same point in 2023. Land-based remains pretty level at $656.1m whilst sports betting is up 22 per cent.

“The first quarter of 2024 brought several exciting events to our city, such as The Pool & Spa Show, Alpha Kappa Alpha – North Atlantic Regional Conference and the Discover Boating Atlantic City Boat Show,” said Larry Sieg, President and CEO of Visit Atlantic City. “We’re looking forward to the continued reinvestment into our community, such as updates to our boardwalk and hotels, which will help put Atlantic City on the map as the go-to seaside destination on the East Coast. Between additions on Tennessee Avenue and renovations at the Golden Nugget, to the opening of the Nobu Hotel, Atlantic City is ramping up for its best year yet.”