This July 25, 2019 photo shows casino employees bringing inflatable pool toys to Santa at the outdoor pool at the Ocean Casino Resort in Atlantic City, N.J. Figures released Aug. 14, 2019 by the New Jersey Division of Gaming Enforcement show the casinos took in $323 million, an increase of 7.8% from July 2018. (AP Photo/Wayne Parry)
- Atlantic City Casino Revenue July 2019 Calendar Printable Free
- Atlantic City Casino Revenue July 2019
A ccording to data released Monday by the New Jersey Division of Gaming Enforcement, significant year-over-year declines in brick-and-mortar casino revenue resulted in a nearly 10% overall dropoff for the entire industry. Atlantic City’s nine casinos reported $260.86 million in total gaming revenue last month, compared with $288.6 million in November 2019. Statewide, the total. Aug 15, 2019 This July 25, 2019 photo shows casino employees bringing inflatable pool toys to Santa at the outdoor pool at the Ocean Casino Resort in Atlantic City, N.J. Figures released Aug. 14, 2019 by the. Aug 24, 2020 How bad are the second quarter revenue figures for the Atlantic City casinos? The state Division of Gaming Enforcement, in its press release filed on Monday afternoon, declared, “In light of the casino closures, the Net Revenue and Gross Operating Profit (Loss) for the 2nd quarter and year-to-date are not comparable to the 2019 period.”. Aug 12, 2020 Atlantic City’s casinos reported just shy of $248.7 million in total gaming revenue last month, a significant decrease from July 2019’s $323.3 million, according to figures released Wednesday.
ATLANTIC CITY, N.J. — A year after two new casinos opened in Atlantic City, the seaside resort’s gambling and sports betting revenue is up nearly 8%, and its top casino had its best month ever.
Figures released Wednesday by the New Jersey Division of Gaming Enforcement show the casinos took in $323 million, an increase of 7.8% from July 2018.
That’s when the city’s two newest casinos, Hard Rock and Ocean, were in their first full month of operation. July’s figures were the first true apples-to-apples comparison in a year of how the Atlantic City casino market had been doing.
But perhaps the biggest news of the month was a record-setting performance from the Borgata, which has long been Atlantic City’s top casino. It took in nearly $88 million in casino and sports betting revenue, the most it ever had won in a single month. That’s an increase of nearly 15% from a year earlier.
It came during the first full month of operation of a $12 million sports betting and entertainment project the casino opened.
“Playing lucky in table games, complemented by healthy July volumes, led to Borgata enjoying an all-time record in total gaming revenue,” Marcus Glover, the casino’s president and chief operating officer, said in an emailed statement.
The Ocean Casino Resort took in $20.1 million from gamblers in July, up 18% from a year earlier, when it was in its first month of operation.
“We are very pleased with the continued profitability and growth of the property,” said Michael Donovan, Ocean’s senior vice president and chief marketing officer.
July, he said, marked the best month in the casino’s history for gross and net slot revenue and hotel occupancy, including the two-plus years it operated as Revel.
The figures illustrate the recovery Atlantic City’s casino industry has undergone in recent years. Just three years ago, the Hard Rock’s predecessor, the Trump Taj Mahal, shut down, marking the fifth of the 12 Atlantic City casinos that operated in 2014 to go out of business.
The reopenings of Taj Mahal as Hard Rock and Revel as Ocean have restored several thousand jobs and boosted casino revenue, even as profits collectively fall for the resort, which now has more competitors than it did just a few years ago.
But the numbers also indicate potential problems for the three Atlantic City casinos owned by Caesars Entertainment, which was recently acquired by Eldorado Resorts, the owner of the Tropicana. The newly combined company owns four Atlantic City casinos, including the three Caesars properties — Caesars, Bally’s and Harrah’s — and there has been speculation the company may seek to divest itself of one or more of its New Jersey properties.
Hard Rock has seized the No. 2 spot in the Atlantic City market. It took in $40.7 million in July, an increase of nearly 25% from its first month a year ago.
The Golden Nugget won $34.5 million in July, up 17.4%; Tropicana won nearly $33 million, which was down 11% from a year ago; and Harrah’s, which has fallen to the No. 4 spot after being second to Borgata for years, won just under $30 million, down 5% from a year ago.
Caesars, at just under $25 million, was down 15.2%; Bally’s, at $18.2 million, was down 11.3%; and Resorts, at $18.1 million, was up 1.8%.
Internet gambling brought in more than $39 million, an increase of nearly 52% from last year. Among internet-only entities, Resorts Digital took in $10.5 million in July, up nearly 169% from a year ago, and Caesars Interactive-NJ won just over $5 million, up nearly 35%.
So far this year, the casinos have taken in $1.84 billion, an increase of more than 18% from the same period last year.
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Follow Wayne Parry at http://twitter.com/WayneParryAC
How bad are the second quarter revenue figures for the Atlantic City casinos?
The state Division of Gaming Enforcement, in its press release filed on Monday afternoon, declared, “In light of the casino closures, the Net Revenue and Gross Operating Profit (Loss) for the 2nd quarter and year-to-date are not comparable to the 2019 period.”
So, that bad.
Instead of its quarterly listing of gross operating profits, the period of April, May, and June — when all of the casinos were shuttered the entire time due to the COVID-19 crisis — the DGE had to report a gross operating loss for once, of $112 million.
DGE won’t compare that figure to Q2 2019, but we will: In that period, the casinos had gross operating profits of $159.3 million. (The latter figure was down slightly compared to Q2 2018, by the way.)
For the year, the casinos have lost $82.4 million, while in 2019 the first six months generated $245.1 million in profit to those casinos.
Hotel occupancy rates for the period were zero, of course, compared to 81.5% in Q2 2019.
Market leader Borgata, which at $55.4 million had just over one-third of the industry’s profits in Q2 2019, this time had the same proportion of the industry’s losses — $40.2 million.
Every casino lost money except Golden Nugget, whose remarkably strong online casino product enabled it to eke out a $3.1 million profit for the quarter. Still, that was down two-thirds from Q2 2019’s $10 million in Golden Nugget profits.
Tropicana’s “variance” of the two second-quarter numbers of minus 152% qualified as the second-least worst of the casinos. Ocean Casino’s industry-worst figure of 885% reflects a loss of $1.2 million in 2Q 2019 — the only AC casino to show a loss in that span — and then $11.8 million in this year’s second quarter.
All of 2020 is a bust for AC casinos
The first quarter 2020 numbers only included two weeks of March when the casinos were closed due to the pandemic.
Atlantic City Casino Revenue July 2019 Calendar Printable Free
But that period normally would have included the NCAA men’s basketball March Madness tournament, which is a large driver of both gambling on the games and also hotel stays by groups of fans who annually also spend plenty of additional money on casino game play, food and beverage, and shopping.
So in that first quarter, the casinos’ net revenues decreased 14.5% to $595.7 million compared to Q1 2019, while the gross operating profit of $29.6 million was a drop of 65.4% compared to the same period in 2019.
The hotel occupancy rate in first quarter 2020 also slipped by 4.5 percentage points to 68.1% occupancy.
What’s next?
Eight of the nine casinos reopened on July 4 weekend, with Borgata following three weeks later. So all of the casinos will have two months of operation and most will have nearly the entire third quarter with hotel guests.
But casino capacity is limited to 25%, and neither alcohol nor substantial food offerings are allowed inside the casino walls.
Still, industry observers have estimated that the casinos will recoup more than 25% of Q3 2019 figures, because the “high rollers” who stay in luxury suites can have high-end food and drink brought to the room. Those same players have plenty of disposable income, and a pent-up demand to play after 3 1/2 months away from their familiar haunts.
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Atlantic City Casino Revenue July 2019
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