The New Jersey Division of Gaming Enforcement has revealed that July again brought mixed fortunes for the Garden State’s gambling companies with online gambling revenue surging by 26 per cent to reach $195m in July whilst Atlantic City’s nine casinos declined by 6.1 per cent year-on-year to $272.3m.
Whilst gambling overall increased by 8.2 per cent to reach $548m, land-based slots fell by 4.8 per cent and table games by ten per cent. Sports betting meanwhile continued to flourish reaching $80m to mark a 31.2 per cent increase from July last year.
Jane Bokunewicz, director of Stockton University’s Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism, said: “While many were hopeful that the summer of 2024 for Atlantic City casinos would see a rebound in drive-in visitors after last year’s trend of people taking their ‘dream vacation’ and flying to destinations, the July in-person gaming numbers suggest that is not the case. More people are choosing fly-to destinations for their vacations compared to drive-to destinations or even ‘staycations. This would be a reversal or more likely a rebound of recent trends that have favored drive-to destinations as the result of some travelers’ post-pandemic reluctance to fly.”
Just three of the nine casinos reported revenue increases with Hard Rock up the most at three per cent to reach at $54.6 m. Resorts was up 1.9 per cent to reach $15.5m with Golden Nugget up 0.7 per cent to reach $14.1m.
Borgata, the long-time market leader, saw its GGR dip by three per cent to come in at $75.9m. Ocean Casino was down 3.3 per cent to $36.5m, Tropicana dropped 4.2 per cent to $23.1m whilst Caesars dipped by a concerning 20 per cent to $19.9m. Harrah’s was down four per cent at $19.2m whilst Bally’s remained in bottom place with a further slide of 23 per cent taking its revenues down to $13.3m.
Looking at the overall picture, James Plousis, Chair of the New Jersey Casino Control Commission, said: “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. July’s monthly casino win did not keep pace in comparison to recent years, partly due to a calendar with fewer weekend days. It fared better over a longer range, ranking as the fifth-best casino win for July in 11 years.”
