Slow summer at Atlantic City casinos

It’s been a cruel summer for Atlantic City Casino so far, as they’ve seen revenue decline year-over-year.

The New Jersey Division of Gaming Enforcement reported gross gaming revenue from July for brick-and-mortar casinos late last week. According to the report revenue from July was $272.3 million, which was down 6.1 percent from revenue reported in July, 2023. Slots machine revenue dropped nearly five percent to $207.3 million, while table game revenue fell 10 percent to $65 million.

July was much worse than June which saw a small one percent improvement in revenue when compared to 2023. Combined, the first two months of the summer reported $516.4 million in revenue, down 2.8 percent from June and July, 2023.

Of the nine casinos in Atlantic City only three reported an increase in year-over-year revenue in July. They included the Hard Rock, up three percent with $54.6 million, Resorts Casino, up 1.5 percent with $15.5 million, and the Golden Nugget, up 0.7 percent with $14.1 million.

Borgata Casino once again reported the largest revenue of all casinos with $75.9 million, but that was down three percent when compared to July, 2023.

The drop in revenue by brick-and-mortar casinos was countered by growth in revenues from online gambling. Revenue from online gambling in July was nearly $195.4 million, a 26 percent increase from July 2023.

Another $80 million in revenue was reported from sports betting that occurred outside casino sportsbooks, racetracks, and online. Overall, reported revenue in New Jersey for July was $547.75 million, an eight percent increase ($41.6 million) from July, 2023.

Despite a down month for brick-and-mortar casinos the New Jersey Casino Control Commission (NJCCC) maintains that the state’s gaming industry remains strong.

“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,” NJCCC chair James Plousis said in a statement.