Investments by Atlantic City casinos help reinvent itself as a destination
July was a stellar month for Atlantic City with gaming revenue reaching $606.2m, internet gaming hit a record $247.3m up 26.6 per cent year-over-year and the nine casinos, led by Borgata, seeing win increase by 4.3 per cent to $284.1m.
Total gaming revenue for casinos, racetracks, and their skins came in at $606.2m, an increase of 10.7 per cent, although sports betting revenue fell 6.6 per cent to $74.8m. Borgata led the way with $79.9m, marking an increase of 5.2 per cent. Hard Rock was the second best performer with $55.1m, up 0.8 per cent, with Ocean Casino in third place with revenue of $43.1m, an incease of 18.2 per cent.
New Jersey Casino Control Commission Chairman James Plousis said: “Atlantic City’s solid summer season continued in July. Over the past four years, Atlantic City’s casino hotels have invested more than $1.1bn improving their properties to provide a world-class experience for visitors. Those investments have helped Atlantic City reinvent itself as a destination, with a robust diversity of gaming, leisure, dining, and entertainment options that cater to every taste.”
“Atlantic City’s year-to-date casino win strengthened, marking the highest result at this point of the year since 2013. New Jersey’s year-to-date total gaming revenue approached $4bn in July, an impressive figure achieved faster compared to every other year,” he added.
Jane Bokunewicz, faculty director, LIGHT, Stockton University, added: “These positive results in brick-and-mortar revenue suggest that, even with record growth in internet gaming, visitors still enjoy the full resort experience of in-person gaming. As for the year-to-date, Atlantic City’s land-based operations have realized $1.66bn in total gross gaming revenue – outpacing the same period in 2024 by 2.2 per cent and comparing favorably to recent years.”
“If this trend continues, we can expect to see both brick-and-mortar and total gross gaming revenues improve on 2024 by year-end. Whether this will translate to gross operating profits (a measure of industry profitability) is another question.”
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