By
Jane Shaw
Senior Editor Updated: 08/28/2024
We count on Jane to inform our readers about the latest slot games in the US market. With her passion for video games and a degree in engineering, she’s our gambling tech expert. Jane’s also active in our blog section, where she tackles the curiosities and changes in the industry.
Atlantic City Casinos Experience Slow Summer
According to recently released data, 2024 is proving to be a slow summer for casinos in Atlantic City, with figures coming in far slower compared to last year. Many casinos in the area were hoping to cash in on the busy summer season when tourists flock to Atlantic City. However, things have gone much slower than they had hoped over the course of the summer.
Figures released by the New Jersey Division of Gaming Enforcement showed that the gross gaming revenue from physical casinos in the area for July stood at $272.3 million. Compared to July of the previous year, this reflects a drop of more than six percent.
The data also showed that slot win had fallen to $207.3 million, a drop of close to five percent. Hold on table games fell by ten percent to around $65 million.
The earlier part of the summer was a little better for casinos in Atlantic City, with casino revenue for the month showing a one percent increase compared to the same period in 2023. However, the summer as a whole appears to have been something of a washout for the nine brick-and-mortar casinos.
A breakdown of the data showed that just one-third of the area’s nine casinos reported gaming win increased for July. This included Resorts, Golden Nugget, and Hard Rock. The latter saw gaming win rise by three percent year-on-year in July, while the others saw increases of 1.9 percent and 0.7 percent respectively.
The leading casino in Atlantic City, Borgata, experienced a drop of more than three percent in in-person gross gaming revenue, with the figure coming in at just under $76 million. Ocean Casino also experienced a drop in revenue, falling by 3.3 percent to $36.5 million. An even bigger drop was seen at Tropicana, where the win fell by 4.2 percent to $23.1 million.
Caesars also reported a huge drop in gross gaming revenue for July compared to the same month in 2023. The figures show that revenue dropped by a huge 20 percent to under $20 million. Harrah’s in the Marina District saw a drop of 24 percent to $19.2 million, while Bally’s experienced a 23 percent drop to $13.3 million.
Despite the bleak figures reported by the majority of in-person casinos in Atlantic City, officials said that this had been offset by strong online gambling activity, including sports betting. According to some, this has resulted in positive GGR figures for the state, despite the drops seen at many brick-and-mortar gaming properties.
James Plousis, chair of the New Jersey Casino Control Commission, said,
Atlantic City’s total gaming revenue reached its highest level for the month of July in over a decade, thanks to near-record internet gaming win and strong sports wagering revenue.
He added that although there had been drops in gaming revenue at the majority of Atlantic City’s nine casinos, the overall gambling industry in the state remained strong.
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