Atlantic City Records Growth For Third Consecutive Year
Atlantic City has reported its third year of growth, with a seven percent annual rise. However, individual casinos in Atlantic City all recorded a slight decline in December, as stated in the New Jersey Division of Gaming Enforcement’s report.
According to the NJDGE, all nine casinos in Atlantic City managed to generate a combined revenue of $208.5 million on slot and table games in December 2019. When this figure is compared to the same period in 2018, there is a small decline visible. Namely, the revenue dropped by 0.2 percent, which is not that big a deal when the entire picture is taken into account.
On the other hand, when December is compared to November 2019, there’s a significant drop in revenue, since casinos managed to earn as much as $224 million on games during that period.
Tables were more unlucky in December compared to slots. In fact, table games recorded a decline of 6.4 percent year-on-year, earning a total of $58.5 million. On the other hand, the popularity of slot machines in Atlantic City increased by 2.4 percent, as they earned $150 million.
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Only three casinos out of nine that currently operate in Atlantic City recorded an increase in revenue in December. Even Borgata, which is usually the most successful out of all casinos there, recorded a decrease last month. It earned approximately $55 million, which is 4.3 percent less compared to December 2018.
Caesars was the ultimate loser in December, as it recorded a decline of 15.5 percent, earning only $18.1 million. The Golden Nugget wasn’t any better, with a decline of 13.4 percent and revenue of $14.3 million.
On the other hand, the casino which recorded the highest increase was Ocean Casino Resort. The year-on-year gain for this venue was 75.4 percent, as it earned almost $20.9 million. The reason for this is table hold, which doubled up to 17.6 percent.
The other casino that recorded a huge increase in December is Hard Rock Atlantic City, as it managed to earn 9.5 percent more compared to the same period last year. The total revenue for December for Hard Rock was $25.88 million. Harrah’s had similar success in December with a $25.65 million in revenue and an 8.7 percent increase.
Full-Year Overview — Atlantic City Wins In The End
The slightly disappointing December results were nothing compared to the entire year. Casinos in Atlantic City recorded a seven percent increase in 2019, earning a total of $2.68 billion. Slots alone recorded an increase of 6.7 percent, with $1.92 billion in revenue. Moreover, table games increased by 7.7 percent, as they earned $764.7 million last year.
The year 2019 was third consecutive one of Atlantic City casinos recording an increase in revenue. Before that, there was a long decline that lasted for a decade. After 2006, things started going south for casinos in Atlantic City until it all changed three years ago.
Sports Betting and Online Gambling
Land-based casinos now also offer sports betting and provide players an opportunity to do it all on the web. The total revenue which was made when these options are taken into account is $3.29 billion in 2019.
Overall, that’s 15.1 percent better compared to 2018. In fact, this is the first time since 2012 that the $3 billion mark was breached.
Hopefully, the casinos in Atlantic City will continue to work full steam ahead and report another year of increase in 2020. Things are really looking good in Atlantic City at the moment, especially when it comes to sports betting.