Revenue at the Casinos in Atlantic City Fell in September. Are Cyberattacks at Fault?
Although September saw a modest decline in casino revenue in Atlantic City, the situation might have been considerably worse.
The nine casinos in AC recorded $246.5 million in in-person gambling revenue last month, a 2.1% decrease from the same period in 2022. In September 2023 compared to September 2022, just two properties, Ocean Casino Resort and Hard Rock Hotel & Casino Atlantic City, saw an increase in revenue.
Did the MGM and Caesars Hacking Affect Gambling Revenue in AC?
How much the cyberattacks on MGM Resorts International and Caesars Entertainment contributed to the decline in Atlantic City casinos’ revenue last month is uncertain. The four AC casinos controlled by those two businesses, however, were down overall by 9.1% and contributed over $12 million to the YoY deficit.
Increase of Gaming Throughout the State
NJ online casinos and sportsbooks are on a consistent trend for an East Coast gambling center in the post-COVID period, as seen by the monthly results coming out of Atlantic City. Last month, the AC casinos and licensed NJ online casino operators reported a total gaming revenue of $430.9 million, up 11.8% from September 2022. This figure includes land-based, online, and sports betting operations.
The second-best month ever for revenue for online casinos brought in $163.8 million. Revenue from regulated sports betting reached around $1.3 billion, the third-highest monthly total ever. More than $71.6 million in sports betting revenue was attributable to AC casinos and their online/mobile partners, a YoY increase of 62.8%.