February 2023
In LIGHT of the data.
Despite falling $4 million short of pre-pandemic February 2020, February 2023 outperformed all other Februarys going back to 2013. Year-to-date, a strong January kept the Atlantic City casino industry well ahead of pre-pandemic brick and mortar totals at $426 million compared to year-to-date February 2020 at $410 million.
When considering total gross gaming revenue for the month and year-to-date, internet gaming pushed February 2023 to new heights setting new near-term records for single month February and year-to-date February revenues. Internet gaming remains a significant portion of the Atlantic City gaming industry revenue mix accounting for nearly 40% of total gross gaming revenue share for the year-to-date.
Based on seasonal patterns seen in 2021 and 2022, internet gaming generates the highest percentage of GGR share in the first three months and last three months of the year 鈥 the inverse of in-person gaming, which peaks for revenue share in the higher traffic second and third quarters. This pattern may suggest that online casino operations, although not necessarily as lucrative for land-based operators, are successfully capturing player behavior in what is traditionally considered the 鈥渙ff鈥 or 鈥渟houlder鈥 season for Atlantic City.
The ability to engage players year-round and via multiple channels has likely contributed to industry revenue growth overall and may help Atlantic City鈥檚 casino operators stay competitive in an increasingly crowded regional and local market.
Locally, the addition of two new casino resorts to the established seven has disrupted market share. The local market 鈥減ie鈥 has grown, but the way that pie is 鈥渃ut鈥 has changed, shifting in favor of the newest entrants to the market. Local competition for market share, and the threat of more regional competition, has been a catalyst for investment in all aspects of casino resort operations.
Multi-channel player engagement coupled with recent investment in the on-site resort experience will continue to make Atlantic City a distinctive destination for gambling and entertainment, both virtual and in-person.
Atlantic City Gaming Win & Total Casino Revenue
Source:
| Monthly Revenue (Casino Licensees, $ In Millions |
February 2023 |
% Change from Prior Year | February 2022 | YTD
February 2023 |
% Change from Prior Year | YTD February 2022 |
|---|---|---|---|---|---|---|
| Total Gaming Win (includes Internet & Sports Wagering) | 377,539 | 5.8% | 356,728 | 762,904 | 9.5% | 696,839 |
| Sports Wagering Revenue | 19,978 | 39.4% | 14,333 | 40,801 | 23.8% | 32,952 |
| Internet Gaming Win | 142,593 | 9.7% | 129,976 | 295,460 | 10.3% | 267,826 |
| Casino Gaming Win | 214,968 | 1.2% | 212,419 | 426,644 | 7.7% | 396,061 |
| Quarterly Revenue (Industry, $ In Thousands)** | Q3 2022 | % Change from Prior Year | Q3 2021 | YTD September 30, 2022 | % Change from Prior Year | YTD September 30, 2021 |
|---|---|---|---|---|---|---|
| Casino | $469.19 | -7.3% | $505.87 | 1,368.67 | 3.0% | 1,328.80 |
| Rooms | $261.87 | 6.1% | $246.86 | $554.21 | 14.8% | $482.56 |
| Food & Beverage | $160.59 | 13.1% | $142.03 | $396.07 | 33.5% | $296.68 |
| Entertainment & Other | $88.49 | 20.8% | $73.27 | $209.76 | 38.5% | $151.41 |
| Casino Licensees Total Revenue | $980.14 | 1.3% | $968.03 | $2,528.71 | 11.9% | $2,259.45 |
** Data agregated from New Jersey Division of Gaming Enforcement for individual properties, includes amended totals as of August 22, 2022. May not match totals from which represent a 'snapshot' of data at the time of publication and are not retroactively updated.
Atlantic City Hotel Lodging
Source:
| Casino Hotel Lodging Statistics For the Period Ended September 30, 2022 & 2021 |
Q3 2022 | Q3 2021 | YTD 2022 | YTD 2021 |
|---|---|---|---|---|
| Occupancy percentage | 86.66% | 81.25% | 76.2% | 68.0% |
| Average Daily Room Rate (ADR) | $216.55 | $224.61 | $184.71 | $178.07 |
| Revenue Per Available Room (RevPAR)* | $187.66 | $182.50 | $140.75 | $121.09 |
* RevPAR= ADR X Occupancy Percentage
Atlantic City Statistical Transportation Data
Source:
| Travel Mode | January 2023 |
Change from Prior Year |
January 2022 |
YTD January 2023 |
Change from Prior Year |
YTD January 2022 |
|---|---|---|---|---|---|---|
| AC Expressway | ||||||
| Total Toll-Paying Traffic Pleasantville Toll Plaza |
1,216,153 | 14.6% | 1,061,207 | 1,216,153 | 14.6% | 1,061,207 |
| AC Airport | ||||||
| Scheduled Service Passengers | 55,969 | 1.0% | 55,399 | 55,969 | 1.0% | 55,399 |
| Charter Passengers | 4,539 | -31.1% | 6,585 | 4,539 | -31.1% | 6,585 |
| Total Air Passengers | 60,508 | -2.4% | 61,984 | 60,508 | -2.4% | 61,984 |
Atlantic City Meetings and Conventions Data
Source:
| February '23 | February '22 | % Change from Prior Year |
TOTAL 2023 YTD |
TOTAL 2022 YTD |
% Change from Prior Year |
|
|---|---|---|---|---|---|---|
| Conventions/Tradeshows/Meetings* | ||||||
| # of Shows | 6 | 5 | 20% | 12 | 9 | 33% |
| # of Room Nights | 12,879 | 6,745 | 91% | 31,035 | 22,129 | 40% |
| # of Delegates | 60,225 | 27,928 | 116% | 124,592 | 81,337 | 53% |
| Delegate Spending | $14,710,506 | $5,759,148 | 155% | $31,452,433 | $19,231,430 | 64% |
| Boardwalk Hall Bookings | ||||||
| # of Shows | 4 | 3 | 33% | 8 | 6 | 33% |
| # of Attendees | 23,346 | 16,868 | 38% | 33,390 | 31,885 | 5% |
| Hotel Bookings | ||||||
| # of Shows | 11 | 8 | 38% | 17 | 12 | 42% |
| # of Room Nights | 8,363 | 7,854 | 6% | 12,060 | 13,641 | -12% |
| # of Attendees** | 10,010 | 9,240 | 8% | 11,656 | 25,240 | -54% |
| Delegate Spending | $5,572,864 | $5,478,830 | 2% | $7,509,446 | $9,379,644 | -20% |
| Monthly Totals | ||||||
| # Convs_Trade_Mtgs / Boardwalk Hall / Hotel | 21 | 16 | 31% | 37 | 27 | 37% |
| # of Room Nights | 21,242 | 14,599 | 46% | 43,095 | 35,770 | 20% |
| # of Attendees | 93,581 | 54,036 | 73% | 169,638 | 138,462 | 23% |
| Delegate Spending | $20,283,370 | $11,237,978 | 80% | $38,961,879 | $28,611,074 | 36% |
Notes:
*Includes Visit Atlantic City events booked at Boardwalk Hall
**January 2023 vs January 2022 Hotel Attendee variance is due to an event moved from hotel venue in 2022 to Boardwalk Hall1 in 2023
LIGHT Snapshots is a publication of the Lloyd D. Levenson Institute of Gaming, Hospitality
& Tourism, 麻豆传媒社区 School of Business
Jane Bokunewicz, Ph. D., Faculty Director and Associate Professor of Hospitality
Atlantic City Information
Atlantic City aviation entities received $13.3 million in federal funding - As reported by , Atlantic City International Airport (ACY), National Aeronautics Research and Technology Park (NARTP) and the 177th fighter wing of the New Jersey Air National Guard will receive a total of $13.3 million in federally directed appropriations and earmarks. Funding includes approximately $3 million to design and plan a cargo taxiway at ACY that would connect the planned air cargo terminal to existing infrastructure. The taxiway is expected to cost $18 million once built. NARTP will receive about $2 million to contract with companies to develop robotic tools called autonomous vehicles to clear debris from runways, mow grass at airports and more. The 177th fighter wing will receive more than $8 million to upgrade its facilities, including a new high-security gate and maintenance hanger.
Atlantic City City Council introduced two ordinances requiring businesses to install more outdoor lighting, passes resolutions funding streetlight maintenance and demolitions - As reported by , at a recent meeting, Atlantic City Council introduced two new ordinances aimed at reducing dark areas in the city. These areas "pose an ongoing threat to the health, safety and welfare of the community.鈥 The ordinances will have a public hearing and final vote at a future meeting. The Council also passed resolutions to accept $595,649 from the CRDA for a grant for its streetlight maintenance program and a $500,000 CRDA demolition grant.
Atlantic City Police Department (ACPD) partners with Chelsea Economic Development Corporation (EDC) on new safety initiative - According to a City of Atlantic City , in an effort to better protect the city, the Chelsea EDC is using grant money to purchase and install security cameras throughout the neighborhood that will feed real-time video to the ACPD Surveillance Center in the Public Safety Building.
Back Bay residents express concerns over bulkhead project - As reported by The Press of Atlantic City, residents along the back bay in Lower Chelsea have expressed concerns that a $6.5 million bulkhead replacement project may not succeed in addressing flooding issues due to gaps between public and private bulkheads.
CRDA approves cannabis dispensory and consumption lounge for The Claridge Hotel - As reported by and reprinted in , with CRDA approval already secured, the "High Rollers Dispensory" may open as soon as this summer, pending finalization of state regulations on legalized cannabis consumption lounges. The 10,000-square-foot, two-story facility would be located at The Claridge Hotel at Park Place and Indiana Avenue separated from the Boardwalk by Brighton Park and the Korean War Memorial. High Rollers anticipates spending $3.2 million in renovations to the space leased from the hotel and former casino, including building a new entrance on Pacific Avenue near Indiana. The renovation plans also include provisions for a nonalcoholic bar, possible outside food options, live music and pop-up entertainment.
New Jersey Gaming News
Casino smoking ban receives public hearing - As reported by, , and , a bipartisan bill that would close a loophole allowing casinos to have indoor smoking sections received its first public hearing on Feb. 13. Representatives from both sides of the issue were invited to offer testimony regarding , which "eliminates smoking ban exemption for casinos and simulcasting facilities."
First of its kind Responsible Gaming Initiative launches in New Jersey - According to a Feb. 7 news release from the New Jersey Division of Gaming Enforcement (DGE), the DGE will work with online gaming operators to identify problem gamblers using data already collected on player habits. "Operators of gam