Almost Flat February Casino Revenue in Atlantic City, Down Compared to Pre-Pandemic Levels
In-person gaming revenues from Atlantic City casinos are barely up year over year.
According to figures provided on March 16 by the NJ Division of Gaming Enforcement, revenue from slot machines and table games increased by 1.2% last month compared to the same period in 2022. The nine casinos in the city recorded overall in-person gambling revenue of slightly under $215 million.
The casinos in AC saw improvements in brick-and-mortar revenue for the fourth straight month in February.
According to the most recent monthly financial statistics, the AC industry is still regaining its footing after the COVID-19 epidemic.
James Plousis, chairman of the New Jersey Casino Control Commission, said the slight monthly growth maintained an encouraging pattern for the gaming market.
The February data for the casinos in Atlantic City is quite contradictory.
Five casinos reported growth in in-person gaming from YtY. The biggest gains were seen at Bally’s AC (+14.3%), Borgata Hotel Casino & Spa (+8.8%), Harrah’s Resort AC (+8.1%), Caesars AC (+1.4%), and Hard Rock Hotel & Casino AC (+0.3%).
Double-digit percentage decreases were seen at the Golden Nugget AC (-13.9%) and Ocean Casino Resort (-11.5%), while smaller declines were seen at the Resorts Casino Hotel (-2%) and Tropicana AC (-0.7%).
Revenue from physical gaming is now growing by 4% and 7.7% over 2020 and 2022, respectively. According to the NJ DGE, casinos made $426.6 million in their first two months of 2023.
The YoY results are encouraging for the casino industry, which is trying to recapture its pre-COVID figures. Yet, the latest data reveals that several operators are still performing below pre-pandemic levels.