June 2024
In LIGHT of the data.
Total gross gaming revenue (GGR) for the month increased 7.4% year-over-year and by this metric was the strongest June in recent history for Atlantic City’s casino operators. Likewise, at the halfway point of the year, total GGR increased 9.1% over 2023 and has generated the most revenue year-to-date in recent history – more revenue than the industry made in some recent 12-month periods.
However, with the brick-and-mortar casino revenue essentially flat for the month and year-to-date, it is clear that most of these gains can be attributed to the online gaming market.
While internet gaming provides a number of benefits: revenues taxed at a higher rate, appeal to more/different players, an innovative and evolving gaming experience etc. it is not a replacement for brick-and-mortar gaming activity in terms of total economic impact for Atlantic City and the state. In-person gaming activity does not occur in a vacuum. Patrons visiting Atlantic City casinos are also likely to spend money on things beyond the casino floor, and their presence in the city directly and in-directly supports a variety of businesses (lodging, food & beverage, entertainment etc.) as well as thousands of jobs.
A growth of 1% in the year-over-year brick-and-mortar casino revenues for June is positive, but perhaps not as much growth as operators would have liked to see given the importance of in-person gaming to their overall business strategy. As we look forward to the rest of the summer, it will be important to monitor year-over-year revenues for brick-and-mortar operations.
Atlantic City Gaming Win & Total Casino Revenue
Source:
| Monthly Revenue (Casino Licensees, $ In Thousands |
June 2024 |
% Change from Prior Year | June 2023 | YTD
2024 |
% Change from Prior Year | YTD 2023 |
|---|---|---|---|---|---|---|
| Casino Gaming Win | $244.1 | 1.0% | $241.6 | $1,356.1 | 0.0% | $1,355.7 |
| Internet Gaming Win | $186.8 | 25.2% | $149.3 | $1,129.6 | 21.4% | $930.8 |
| Sports Wagering Revenue | $27.1 | -23.9% | $35.7 | $214.6 | 13.9% | $188.3 |
| Total Gaming Win (includes Internet & Sports Wagering) | $458.1 | 7.4% | $426.5 | $2,700.3 | 9.1% | $2,474.8 |
| Quarterly Revenue (Industry, $ In Thousands)** | Q1 2024 | % Change from Prior Year | Q1 2023 | YTD March 31, 2024 | % Change from Prior Year | YTD March 31, 2023 |
|---|---|---|---|---|---|---|
| Casino | 417,741 | -0.4% | 419,324 | 417,741 | -0.4% | 419,324 |
| Rooms | 148,126 | 6.1% | 139,649 | 148,126 | 6.1% | 139,649 |
| Food & Beverage | 129,686 | 0.4% | 129,135 | 129,686 | 0.4% | 129,135 |
| Entertainment & Other | 72,359 | 5.6% | 68,530 | 72,359 | 5.6% | 68,530 |
| Casino Licensees Total Revenue | 769,923 | 1.8% | 756,638 | 769,923 | 1.8% | 756,638 |
| Gross Operating Profit (GOP) | 155,397 | -8.7% | 170,177 | 155,397 | -8.7% | 170,177 |
** Data agregated from New Jersey Division of Gaming Enforcement for individual properties, includes amended totals as of August 22, 2023. 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 March 31, 2024 & 2023 |
Q1 2024 | Q1 2023 | YTD 2024 | YTD 2023 |
|---|---|---|---|---|
| Occupancy percentage | 64.82% | 65.18% | 64.82% | 65.18% |
| Average Daily Room Rate (ADR) | $164.20 | $156.52 | $164.20 | $156.52 |
| Revenue Per Available Room (RevPAR)* | $106.40 | $102.02 | $106.40 | $102.02 |
* RevPAR= ADR X Occupancy Percentage
Atlantic City Casino Operator Taxes & Fees
Source:
Total Paid Taxes & Fees |
$214,709,000 | $181,307,000 | 18.4% | |||
|---|---|---|---|---|---|---|
Taxes & Fees |
Q1 2024 | Q1 2023 | % | |||
|
Casino Gaming Gross Revenue Tax |
$42,013,000 | $41,808,000 | 0.5% | |||
|
Internet Gaming Gross Revenue Tax |
$84,576,000 | $69,260,000 | 22.1% | |||
|
Sports Wagering - Retail Gross Revenue Tax (includes racetracks) |
$866,000 | $735,000 | 17.8% | |||
|
Sports Wagering - Internet Gross Revenue Tax (includes racetracks) |
$41,479,000 | $27,740,000 | 49.5% | |||
| Investment Alternative Tax/CRDA Obligations | $22,297,000 | $19,739,000 | 13.0% | |||
| 1.25% Additional Tax | $1,525,000 | $1,132,000 | 34.7% | |||
| 1.25% EDT | $2,582,000 | $1,657,000 | 55.8% | |||
| Luxury Tax | $9,074,000 | $8,654,000 | 4.9% | |||
| Tourism Promotion Fee | $1,825,000 | $1,876,000 | -2.7% | |||
| Hotel Room Fee | $2,706,000 | $2,677,000 | 1.1% | |||
| Hotel Room Surcharge | $1,804,000 | $1,784,000 | 1.1% | |||
| Parking Fees | $3,962,000 | $4,245,000 | -6.7% | |||
Atlantic City Casino Operator Spending
Source: - Member Reported
| Total | $195,709,608.74 | $166,359,279.56 | 17.64% | ||
|---|---|---|---|---|---|
Purchase of Goods and Services From New Jersey Vendors(By County) |
Q4 2023 | Q4 2022 | % Change | ||
| Atlantic | $104,259,719.11 | $105,505,857.06 | -1.18% | ||
| Bergen | $3,824,016.84 | $3,270,061.78 | 16.94% | ||
| Burlington | $3,748,472.55 | $5,605,478.74 | -33.13% | ||
| Camden | $5,710,417.47 | $6,146,934.11 | -7.1% | ||
| Cape May | $1,973,663.17 | $1,579,216.09 | 24.98% | ||
| Cumberland | $5,057,329.16 | $6,030,951.57 | -16.14% | ||
| Essex | $10,882,741.16 | $7,678,367.27 | 41.73% | ||
| Gloucester | $1,887,327.78 | $1,936,096.3 | -2.52% | ||
| Hudson | $429,999.969 | $498,204.85 | -13.69% | ||
| Hunterdon | $43,220.22 | $55,761.85 | -22.49% | ||
| Mercer | $6,323,970.47 | $6,506,703.72 | -2.81% | ||
| Middlesex | $2,701,846.96 | $3,717,282.54 | -27.32% | ||
| Monmouth | $2,779,287.96 | $3,806,751.83 | -26.99% | ||
| Morris | $2,441,912.24 | $4,440,407.01 | -45.01% | ||
| Ocean | $920,066.49 | $505,796.14 | 81.90% | ||
| Passaic | $1,055,955.44 | $924,441.32 | 14.23% | ||
| Salem | $96,747.31 | $20,920.11 | 362.46% | ||
| Somerset | $1,927,588.7 | $1,877,649.47 | 2.66% | ||
| Sussex | $8,492.97 | $5,640.00 | 50.58% | ||
| Union | $4,545,688.69 | $6,239,387.54 | -27.15% | ||
| Warren | $1,096.77 | $7,370.26 | -85.12% | ||
Other Spending |
Q4 2023 | Q4 2022 | % | |||
|---|---|---|---|---|---|---|
| Capital Expenditures | $64,227,515 | $71,180,013 | -9.77% | |||
| PILOT Contributions (Includes PILOT & additional payments under PILOT legislation) | $28,242,109 | $27,505,652 | 2.68% | |||
| CRDA Special Improvement District | $322,582 | $243,627 | 32.41% | |||
| Municipal/Atlantic City Fees- Water | $1,410,845 | $1,130,895 | 24.75% | |||
| Municipal/Atlantic City Fees- Sewer | $1,251,941 | $1,061,249 | 17.97% | |||
|
Municipal/Atlantic City Fees- Other (permits, boardwalk seating, mercantile etc.) |
$494,103 | $677,473 | -27.07% | |||
| Charitable Contributions | $252,181 | $294,895 | -14.48% | |||
Total Spending |
$96,201,276 | $102,093,806 | -5.77% |
|---|
Atlantic City Statistical Transportation Data
Source:
| Travel Mode | May 2024 |
Change from Prior Year |
May 2023 |
YTD 2024 |
Change from Prior Year |
YTD 2023 |
|---|---|---|---|---|---|---|
| AC Expressway | ||||||
| Total Toll-Paying Traffic Pleasantville Toll Plaza |
1,546,793 | 0.4% | 1,540,042 | 6,870,376 | 2.3% | 6,716,443 |
| AC Airport | ||||||
| Scheduled Service Passengers | 86,508 | 34.8% | 64,157 | 408,164 | 26.1% | 323,807 |
| Charter Passengers | 13,878 | -2.3% | 14,201 | 42,735 | -13.9% | 49,634 |
| Total Air Passengers | 100,386 | 28.1% | 78,358 | 450,899 | 20.7% | 373,441 |
Atlantic City Meetings and Conventions Data
Source:
| June '24 | June '23 | % Change from Prior Year |
TOTAL 2024 YTD |
TOTAL 2023 YTD |
% Change from Prior Year |
|
|---|---|---|---|---|---|---|
| Conventions/Tradeshows/Meetings* | ||||||
| # of Shows | 3 | 7 | -57% | 36 | 44 | -18% |
| # of Room Nights | 1,906 | 6,266 | -70% | 58,257 | 63,112 | -8% |
| # of Delegates | 8,470 | 19,609 | -57% | 267,139 | 317,529 | -16% |
| Delegate Spending | $2,592,423 | $6,107,669 | -58% | $61,295,600 | $69,884,531 | -12% |
| Boardwalk Hall Bookings | ||||||
| # of Shows | 6 | 8 | -25% | 21 | 24 | -13% |
| # of Attendees | 13,597 | 30,678 | -56% | 101,319 | 126,139 | -20% |
| Hotel Bookings | ||||||
| # of Shows | 19 | 14 | 36% | 77 | 63 | 22% |
| # of Room Nights | 14,023 | 6,195 | 126% | 58,539 | 40,843 | 43% |
| # of Attendees | 35,029 | 38,805 | -10% | 81,225 | 72,647 | 12% |
| Delegate Spending | $11,550,659 | $7,402,244 | 56% | $39,067,862 | $28,569,719 | 37% |
| Monthly Totals | ||||||
| # Convs_Trade_Mtgs / Boardwalk Hall / Hotel | 28 | 29 | -3% | 134 | 131 | 2% |
| # of Room Nights | 15,929 | 12,461 | 28% | 116,796 | 103,955 | 12% |
| # of Attendees | 57,096 | 89,092 | -36% | 449,683 | 516,315 | -13% |
| Delegate Spending | $14,143,082 | $13,509,913 | 5% | $100,363,462 | $98,454,250 | 2% |
*Includes Visit Atlantic City events booked at Boardwalk Hall
Atlantic City Information
AtlantiCare launches Community Mobile Market - As reported by on June 12 launched a 'grocery store on wheels' to help provide Atlantic City residents with low-cost groceries and reduce food insecurity.
Atlantic City Boardwalk Improvement Group (BIG) focuses efforts to address homelessness, encampments in city and under Boardwalk - As reported by , multiple interested parties, focused by BIG, are working collaboratively to clear homeless encampments from under the Boardwalk and citywide, while encouraging those living in them to accept help.
Atlantic County bond ratings reaffirmed by Moody's Investors Service and Standard and Poor's Global Ratings - As reported by , the county's ratings have been reaffirmed for the 16th straight year "based on budgetary performance and the county's efforts to diversify its economy."
Casino Reinvestment Development Authority (CRDA) rejects 'Road Diet' - As reported by , on June 25 the CRDA voted to reject a plan to reduce the number of lanes in a section of Atlantic Avenue from four to two.
C.R.O.P.S. (Communities Revolutionizing Open Public Spaces) moves Food Hub location to Tennessee Avenue - As reported by , community nonprofit C.R.O.P.S. has moved its Food Hub from a location in the Tanger Outlets The Walk to a new venue on South Tennessee Avenue.