Atlantic City finally seems to be getting back on its feet, as the casinos that are part of this area managed to record a very good start of 2020. The gambling revenue for January for the entire state of New Jersey managed to top $300 million.
The New Jersey’s Division of Gaming Enforcement released figures on Wednesday, stating that the nine brick-and-mortar casinos achieved a total of $192 million in revenue in January (this includes both slots and table games). Compared to the same period last year, the numbers were up by 8.3%. However, compared to December 2019, the numbers were actually down a bit since revenue for that month was $208.5 million.
The main type of game that had the biggest contribution to the overall revenue [https://www.pressofatlanticcity.com/news/casinos_tourism/atlantic-city-casino-revenue-up-to-start/article_0e26c3ca-a688-5529-80c7-d06ac289411a.html] was slot machines. Their revenue was up 11.3% compared to the same period last year. Slots alone earned a total of $140.3 million in January. Table games also recorded growth, albeit minor, as they managed to improve for 1.1%, earning a total of $51.75 million in the process.
What also contributed to the revenue is sports betting and online casinos. Both types of gambling have been gaining popularity recently. If we add the revenue made by betting and online gambling, the total revenue would be $270.55 million, which is a 22.6% year-on-year increase. Finally, we need to take into account racetracks and their share. If that is added to the equation as well, we get a total of $300.7 million in revenue for January. It means that the year-on-year increase was almost one-third.
Which Casinos Had The Biggest Success?
Borgata has been the market leader in the AC for a very long time, and that hasn’t changed in January 2020. The revenue made by its table games and slots was $54.7 million for January, recording an 8.5% year-on-year increase. However, the casino that managed to record the biggest increase was Hard Rock Atlantic City, which earned a total of $21.5 million. Compared to the same period last year, that’s an astonishing 38% increase.
Ocean Casino Resort also had a very successful month of January, as it managed to earn $16.9 million for that period, which is a 36.2% year-on-year increase.
However, not all casinos had positive growth last month. In fact, four of them reported an overall decline in revenue. Bally’s AC was hit the hardest as its revenue was down by 11.6%, earning only $10.7 million. Caesars Atlantic City also reported a small decline of approximately 0.5%, earning $17 million. Finally, Tropicana was down for 2.7% ($20.4 million), and Resorts Casino Hotel was down by 2.6% ($12.3 million).
The competition in AC is definitely stiff, and some people think that nine casinos are too much for the area. However, time will tell whether that is true and whether AC can thrive under the current circumstances.
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