AC Casinos Saw Just Modest Gains; Only Two Properties Showed Improvement from Five Years Ago
Eight of the nine Atlantic City casinos reported more in-person gaming revenue in March compared to the previous year, making it one of the best months the industry has had in a long time.
Since 2012, when there were twelve casinos along the Jersey Shore, March 2024 has actually been the strongest month for AC casinos. For a market and land-based casino business that has been struggling recently, this is a little victory.
However, only two operators performed better in March 2024 compared to March 2019.
When compared to the same time in 2023, land-based gaming income, or casino win, is nearly level for the year (+0.1%). The NJ Division of Gaming Enforcement published statistics this week that show the casinos in Atlantic City brought in around $239.8 million in revenue last month—a 4.9% YoY increase.
Examining Casino Earnings in Atlantic City
The month’s total gaming income, which includes sports betting, online gaming, and AC casino wins, was $468.1 million, a 6.1% rise from March 2023. In March, New Jersey’s online casinos brought in $197.2 million (+19% YoY), setting a new monthly high.
Back on land, the DGE data shows that Borgata Atlantic City, AC’s biggest and best-performing casino, was the sole operator to record a YoY loss (-8.1%) in March. The casino floor of the MGM Resorts resort brought in $56.5 million. Revenues from land-based gaming at Borgata have decreased 5.4% year to year when compared to the first quarter of 2023.
The largest improvements were recorded by Hard Rock Atlantic City and Ocean Casino Resort, the other two top performers in the market. Ocean’s gains from tables and slots last month came to about $40.7 million, a 17.6% YoY (+$6.1M) rise. Hard Rock, on the other hand, made over $44.4 million, an 11% YoY increase (+$4.4M).
