The New Jersey Division of Gaming Enforcement released the state’s numbers for December 2022 with casino win for the nine casino hotel properties coming in at $215.6m, marking a 1.8 per cent increase compared to $211.8 for December 2021.
Total Gaming Revenue reported by casinos, racetracks, and their partners was $454.8m for December 2022, reflecting a 12.5 per cent increase from $404.1m reported in December 2021. For year-to-date, Total Gaming Revenue reported by casinos, racetracks, and their partners was $5.21bn reflecting a 10 per cent increase from $4.74bn reported in the prior period.
“In 2022, the Atlantic City casino industry continued to face challenges, including the lingering effects from the pandemic, a difficult economy and high inflation,” said Mark Giannantonio, president of the Casino Association of New Jersey. “As we move into a new year, Atlantic City casinos are committed to providing the best possible experience for our customers, which includes making significant investments that will continue to solidify Atlantic City’s position as a world-class resort destination with top-notch dining, shopping and entertainment offerings.”
A multitude of gaming enhancements will take place to create one of the market’s first casinos of the future. A brand-new Caesars Rewards experience center will bring digital and in-person gaming together with tablets and a Caesars Sportsbook app center in a shared space. The experience center will feature self-service kiosks to check accounts and print cards, and a state-of-the-art video wall. Additionally, there will be 240 new games, with over 200 new titles on the floor. The entire gaming floor will be revamped, including new carpeting, to enhance the overall guest experience.
Golden Nugget Atlantic City continues to invest in its hotel and casino offering its loyal patrons the very best in gaming, amenities, and accommodations. In 2023, the hotel will begin a multi-million-dollar remodeling project redesigning its rooms and suites as well as making improvements to back-of-house infrastructure areas such as elevators, cooling towers, among others. The gaming floor will also incorporate the newest and most popular slot machines.
Hard Rock Hotel & Casino Atlantic City is investing over $30m in live entertainment in 2023 cementing itself as the market leader in headliner entertainment.
Collectively, the casinos have invested over $1bn into the marketplace over the past several years. These new investments will create world class attractions, generate additional employment opportunities, and attract more visitors to the beachfront resort in the upcoming year. As the cost of air travel continues to impact Americans, one-third of the U.S. population can travel to Atlantic City on a tank of gas, which makes the city an even more attractive tourist destination.
“Our industry is facing strong economic headwinds, like most businesses across America, as we continue to experience uncertain days ahead. With that in mind, our ongoing partnership with the local and state officials to further advance the economic growth of Atlantic City is vital to the long-term success and viability of our historic seaside resort,” added Giannantonio.
Year-to-date, the nine casino hotel properties recorded $2.79bn, which is a nine per cent increase compared to the $2.55bn for the prior period.
For the month of December 2022, Internet Gaming Win reported by casinos and their partners was $151.5m, reflecting growth of 13.7 per cent compared to $133.2m for the prior period. For the year-to-date period, Internet Gaming Win reported by casinos and their partners was $1.66bn, reflecting growth of 21.6 per cent compared to $1.37bn for the prior year-to-date period.
Sports Wagering Gross Revenue reported by casinos, racetracks, and their partners was $87.7m for December 2022, reflecting a 48.5 per cent increase when compared to $59m in the prior period. Sports Wagering Gross Revenue reported by casinos, racetracks, and their partners was $763m for the year-to-date, reflecting a 6.5 per cent decline when compared to $815.8m for the prior period.