February saw a decrease in Atlantic City casino income, marking the market's second consecutive month-over-month monthly win loss.
All gambling in the Garden State is governed by the Division of gambling Enforcement (DGE) of New Jersey, with the exception of the state lottery. According to the regulator, the nine casinos along the shore brought in over $211.6 million in gross gaming revenue (GGR) in February 2023, a 1.6% decrease from the previous year when the nine establishments won close to $215 million.
The chair of the New Jersey Casino Control Commission, which is in charge of the DGE, James Plousis, stated that the brick-and-mortar numbers for February were expected.
"Casino win in the midst of the traditional off-season has been relatively consistent. In each of the past three years, February’s casino win has exceeded $210 million,” Plousis wrote to Casino.org.
Last month, the casinos weren't as fortunate as they saw a more than 5% decline in table game revenue to $52.7 million. $158.9 million was nearly flat for the slot win.
The nine casinos in Atlantic City as of the first two months of 2024 are 2.4% fewer than they were at this time last year, even with January's brick-and-mortar casino win down. The $10.3 million gap is equivalent to 2.4%.
iGaming and Sports Betting Keep Growing
The income from sports betting and internet gaming more than made up for the declines in physical stores.
With the addition of online poker rake, iGaming GGR increased by 28% to $182.3 million. Since the vertical's establishment in 2013, New Jersey has achieved its second-highest result from online gambling.
Of the more than $1 billion staked, the oddsmakers retained almost $67.5 million. Year over year, sportsbook revenue increased by 24%.
February's GGR in New Jersey across all verticals was $461.48 million, a 12% increase over February 2023.
Borgata remained the industry leader in the state's gaming market. $98.1 million was won by the MGM Resorts-run Marina District casino from its sportsbooks, iGaming, and casino.
The iGaming and sports betting divisions of Borgata brought in $40 million and $4.5 million, respectively, while the casino floor took home $53.6 million.
Resorts came in second place with $84.3 million; the Boardwalk resort mostly generates revenue via internet sales. Sportsbooks made $24.2 million and Resorts' iGaming sites won $48 million, while the main casino only made $12.1 million.
Golden Nugget, in third place, is similarly heavily focused on the internet; its iGaming platforms brought in $51.5 million, while its casino won $11.6 million. Its sportsbook experienced a $350,000 monthly loss.
Regarding the remaining casinos, Bally's won $19 million, Harrah's won $18.7 million, Caesars won $16.3 million, Hard Rock claimed $55 million in GGR, Ocean reported $37.6 million, and Tropicana reported $30.2 million.
Since Caesars Entertainment incorporates its iGaming revenue under its Caesars Interactive license, the revenue figures for the three casinos it operates—Caesars, Harrah's, and Tropicana—were marginally higher. About $5.6 million was won by the business's digital division throughout the month.
March is Responsible Gaming Month
March is National Problem Gambling Awareness Month, and in New Jersey, March is Problem Gambling Awareness Month.
"This time each year, we pause to acknowledge that some people develop problems with gambling or are at risk for addiction,” Plousis said. “Education and treatment programs are available. If you or anyone you know has a gambling problem, call 1-800-GAMBLER.”
Following the Council on Compulsive Gambling of New Jersey's agreement to donate the number to the National Council on Problem Gambling, the 1-800-GAMBLER hotline was implemented nationwide last year. The Washington, DC-based charity seeks to lower the financial, social, and personal toll that problem gambling takes from its state affiliate members.
Those who would like to text rather than call can reach the 1-800-GAMBLER hotline by texting "800GAM."
