Atlantic City Casinos Post Big March For Revenue, On Strength Of NJ Gambling Sites

[toc]Buoyed by record online gambling numbers, Atlantic City casino revenue had a banner month in March.

The top-line AC gambling numbers

It was pretty much good news across the board for AC casinos, according to the most recent figures from the New Jersey Division of Gaming Enforcement:

  • Total gaming revenue ticked upward in a major way in March, from $203 million in 2016 to $221.9 million this year. That resulted in a 9.3 percent increase.
  • NJ gambling sites accounted for $21.7 million in revenue, up from $15.5 million a year ago, an increase of more than 40 percent. That’s the first time iGaming revenue eclipsed $20 million.
  • It was a great month for land-based casinos, too. Revenue was up more than $12 million ($187.5 to $200.1 million), a 6.7 percent increase.

More from The Associated Press on the big month:

“Every month should be as good as March was,” said Matt Levinson, chairman of the New Jersey Casino Control Commission. “When coupled with the very strong earnings report that came out last week, it’s clear that casinos have started to grow the market and increase their profits. That is generating a lot of positive interest in Atlantic City and has already attracted significant new investment in this market.”

Winners and losers for AC casinos

It was a good month for just about every casino, with a few exceptions:

  • Caesars had a huge month, up more than $7 million year on year, or more than 30 percent. The online side was disappointing, as revenue was flat even as other operators posted big gains.
  • Resorts crushed it on both sides. The casino was up 25 percent ($3.3 million) YoY. Online gambling was a huge winner, more than doubling from $1.9 to $4.2 million.
  • Tropicana followed Resorts’ lead. Casino was up $9 million (40 percent). Online climbed 22 percent ($700K)
  • Golden Nugget saw revenue at its casino dip slightly. But it was a big winner online, more than doubling gaming win from $3 million to $6.2 million.
  • Borgata gaming win (casino and online) increased 11 percent year-on-year, or more than $6 million. Its land-based casino still generates about twice as much revenue ($59 million)as its nearest competitors.

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Online definitely isn’t cannibalizing land-based casinos

What should be resonating outside of New Jersey is this revelation: Land-based casinos and online casinos are growing side-by-side.

Far from validating the myth that online gambling cannibalizes revenue from brick-and-mortar facilities, New Jersey is proving the obverse is true.

Pennsylvania lawmakers — which are currently considering online gambling legalization and regulation — should certainly take note of the success story that is NJ online gambling.

About the Author

Warren Jones

Aside from his role as editor at LegalSportsReport.com, Warren Jones writes extensively about the legal online gaming and US online poker industries, having played poker recreationally for his entire adult life. He has also covered sports for The Washington Post and the D.C. Examiner, among others.