In July 2023, the gaming industry in Atlantic City witnessed a robust performance, with casinos, horse tracks, and online platforms collectively generating a remarkable $506 million in revenue. This marked a substantial 5.3% increase compared to the same period in 2022.
Casino Performance:
Borgata Casino:
The Borgata Casino emerged as a frontrunner, reporting an impressive revenue of $127 million, reflecting a commendable 3% growth. Notably, this surpasses its previous monthly revenue record set in July 2022 at $124 million.
Hard Rock:
Hard Rock demonstrated resilience with a revenue of $62.7 million, witnessing a substantial 5% increase during July 2023.
Golden Nugget:
Golden Nugget showcased a stellar performance, reporting $54 million in revenue, marking an impressive 10% growth.
Ocean:
Ocean, while slightly down by 2%, still maintained a substantial revenue of $42.4 million, showcasing its stability in the market.
Tropicana:
Tropicana faced a 10% decline, reporting $32.3 million in revenue, indicating the challenges within the competitive landscape.
Harrah’s and Caesars:
Harrah’s and Caesars reported revenues of $25.2 million (down 4.2%) and $25.1 million (down 1.5%), respectively, reflecting a moderate dip in their performance.
Bally’s and Resorts:
Bally’s demonstrated an outstanding growth of over 16%, achieving a revenue of $24.1 million. Meanwhile, Resorts faced a decline of more than 16%, reporting $15.3 million in revenue.
Online Gaming Performance:
Resorts Digital:
Resorts Digital, the online arm of Resorts Casino, experienced remarkable success with a revenue of $59.5 million, soaring by nearly 53%. This underscores the increasing prominence of online platforms in the industry.
Caesars Entertainment Interactive NJ:
Caesars Entertainment Interactive NJ, operating exclusively online, reported $8.5 million in revenue, experiencing a decline of 22%. This sheds light on the competitive challenges faced by online-only entities.
Sports Betting:
Total Sports Bets:
In July 2023, the collective sports bets placed in casinos and three horse tracks amounted to an impressive $587 million, indicating a robust engagement in sports betting activities.
Revenue from Sports Bets:
Out of the total sports bets, the industry retained $61 million as revenue after settling winning bets and covering various expenses.
Internet Betting:
Internet betting continued to be a significant revenue driver, bringing in $155 million and witnessing a substantial growth of 13.5%.
The gaming industry in Atlantic City showcased remarkable resilience and growth in July 2023. While some traditional casinos experienced slight downturns, the overall industry thrived, driven by the success of online platforms and the sustained popularity of sports betting. These trends underscore the dynamic nature of the gaming landscape and the need for industry stakeholders to adapt to evolving consumer preferences.