Casino Revenue in Atlantic City Exceeded $200 Million in January

Arsenii Anderson
casino revenue in atlantic city exceeded 200 million in january

The month of January marked 12 consecutive months of gross gaming revenue of more than $200 million, demonstrating how casinos in Atlantic City are putting their COVID issues from 2020 and 2021 behind them.

Nine casinos in the city produced $211.7 million in gross gaming revenue (GGR). At the same time the previous year, there was an increase of 15.3%. Nonetheless, compared to December’s $215.6 million GGR, there has been a decline of -1.8%.

The January income report was made public by the New Jersey Division of Gaming Enforcement on February 16.

Gaming revenue from retail casinos made up 48.4% of the state’s overall gaming revenue, which increased 14.5% year over year to $436.9 million. Sports betting ($72.3 million; +20.2% YoY) and iGaming ($152.9 million; +10.9% YoY) provided the remaining funds.

Although January in AC is typically the weakest month of the year, casinos have already surpassed their projected $2.7 billion in annual earnings for 2022.

While it is far too early to make any predictions, Jane Bokunewicz of Stockton University’s LIGHT noted that continued exceptional performance in land-based GGR could be a sign that operators’ ongoing and recent investment in both the non-gaming and gaming product in Atlantic City is paying off. This would enable the resort to compete successfully in an evermore crowded tri-state gaming industry, as well as amid pressures of inflation and economic worries.

As anticipated, Borgata Hotel Casino & Spa led the state with a GGR of $58.4 million, an increase of 20.6% from $48.4 million in January of the previous year. While GGR from month to month decreased from $60.5 million in December, it was still enough for Borgata to maintain its market share of over 25%.

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