Atlantic City gaming revenue up 25% in March

Casino gaming revenue has increased by double digits every month since the opening of Hard Rock Hotel & Casino Atlantic City and Ocean Casino Resort in June 2018. The addition of legalized sports betting has also increased gaming revenue for Atlantic City’s nine casinos.

“March numbers clearly indicate strength in the gaming market,” said Rummy Pandit, executive director of the Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism.

In March, the casinos and their online and mobile partners reported US$ 11.4 million in revenue. Since its introduction in June, sports bettors have wagered more than US$ 2 billion statewide.

“Two billion dollars in bets in nine months shows just how much pent-up demand for legal sports betting existed in New Jersey,” said Dustin Gouker, lead sports betting analyst for PlayNJ.com. “As quickly as the industry has ramped up, though, the next milestone should come more quickly. Three billion dollars is certainly within reach by the industry’s first anniversary in June.”

Online gaming accounted for US$ 39.1 million in March, an increase of 53% compared to the same month last year. “Online sports betting is clearly driving online casino growth,” said Steve Ruddock, lead online gambling analyst for PlayNJ.com. “March has become a predictable spark for New Jersey’s online gambling industry and a first-half indicator for what gains the industry will make in the second half of the year. That pattern should continue this year.”

Golden Nugget Atlantic City and its online partners continue to lead the industry in internet gaming, reporting monthly revenue of more than US$ 14.2 million in March.

Borgata Hotel Casino & Spa reported total gaming revenue in March of US$ 65.7 million, more than double the next-closest property.

Bally’s Atlantic City, Harrah’s Resort Atlantic City and Tropicana Atlantic City all reported decreases in total gaming revenue in March compared to last year. Harrah’s reported the largest monthly (16.1%) and yearly (13.5%) decreases in total gaming revenue.