Atlantic City Casinos See a Great December Spike as They Close Out 2023
By the end of 2023, the monthly in-person gaming revenue of eight out of the nine casinos in Atlantic City had increased. But for the year, the bulk of the market saw a modest decline.
As to the latest figures released by the New Jersey Division of Gaming Enforcement (NJ DGE), the famous Atlantic City casinos brought in little less than $232.5 million in December, signifying a 7.8% rise in total income from the previous year. The market’s top-performing property, Borgata Hotel Casino & Spa, was the only one to fall short of December 2022’s returns last month.
Revenue from in-person gaming in Atlantic City’s casinos increased 2.2% in the year over 2022. The industry’s 2023 total of $2.85 billion from table games and slots is the highest since 2013 ($2.86 billion).
But just four of the city’s casinos reported higher yearly in-person gaming revenues in 2023 than they did the year before, with two of those establishments seeing YoY growth of less than 1%. The declines at the other five casinos ranged from 1.5% to 3.3%.
World’s Playground is Topped by the Top Three Casinos in AC
Despite an unusual decline in December, Borgata maintained its position as the market leader, following a pattern that has prevailed for more than 20 years. A 2.9% drop from December 2022 to $58.8 million was retained by the Marina District casino from in-person players. Borgata reported $729.7 million in revenue from tables and slots for the year, a 0.7% increase over 2022.
Hard Rock Hotel & Casino Both Atlantic City and Ocean Casino Resort have made their marks in Atlantic City; they have commemorated their five-year anniversaries in 2023.
Hard Rock made $44.9 million in December, a respectable 19.9% YoY gain. In 2023, Hard Rock AC made $512.4 million, a 4.1% yearly gain.
In 2023, Ocean emerged as the primary disruptor in the industry, with a 16.3% YoY increase in land-based gaming revenue. Ocean brought in $415 million in income at the end of the year. DGE statistics show that the Boardwalk casino brought in $33.1 million in revenue last month, a 12.4% increase over December 2022.
