January 2024

 

LIGHT Snapshots

 
January 2024
 

In LIGHT of the data.

Despite harsher weather than 2023, January 2024 returned a greater than 15% increase in total gaming revenue for Atlantic City's casino operators. The majority of this gain came from off-site operations with both internet gaming and sports betting turning in record single-month returns. Seasonal weather typically impacts the industry and that contributed in January 2024 to brick-and-mortar returns that were 3% less than 2023 when the weather was milder. 

It鈥檚 likely brick-and-mortar activity was diverted to online channels boosting the internet gaming and online sports betting totals. The return of fairer weather will likely lead to better year-over-year gains for Atlantic City's brick-and-mortar casino operations.

Atlantic City Gaming Win & Total Casino Revenue

Source:

Monthly Revenue (Casino Licensees, $ In Thousands

January 2024

% Change from Prior Year January 2023 YTD

January 2024

% Change from Prior Year YTD January  2023
Casino Gaming Win 205,044 -3.1% 211,675 205,044 -3.1% 211,675
Internet Gaming Win 183,281  19.9% 152,867 183,281 19.9% 152,867
Sports Wagering Revenue 56,412 170.9% 20,823 56,412 170.9% 20,823
Total Gaming Win (includes Internet & Sports Wagering) 444,738  15.4% 385,365 444,738 15.4% 385,365
Quarterly Revenue (Industry, $ In Thousands)** Q3 2023 % Change from Prior Year Q3 2022 YTD September 30, 2023 % Change from Prior Year YTD September 30, 2022
Casino 433,501 -7.6% 469,191 1,272,122 -7.3% 1,372,068
Rooms 263,111 0.5% 261,869 582,394 5.1% 554,210
Food & Beverage 169,137 5.3% 160,595 439,242 10.9% 396,066
Entertainment & Other 106,032 19.8% 88,486 253,621 20.9% 209,760
Casino Licensees Total Revenue 971,781 -0.9% 980,141 2,547,378 0.6% 2,532,104
Gross Operating Profit (GOP) 281,213 -7.5% 304,070 632,127 -4.2% 660,140

** 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
September 30, 2023 & 2022
Q3 2023 Q3 2022 YTD 2023 YTD 2022
Occupancy percentage 85.6% 86.7% 75.2% 76.2% 
Average Daily Room Rate (ADR) $217.74 $216.55 $185.61 $184.71
Revenue Per Available Room (RevPAR)* $186.38 $187.75 $139.58 $140.75

* RevPAR= ADR X Occupancy Percentage

Atlantic City Casino Operator Taxes & Fees

Source:

Total Paid Taxes & Fees

$211,573,000 $178,606,000 18.5%

Taxes & Fees

Q3 2023 Q3 2022

Casino Gaming Gross Revenue Tax

$51,364,000 $53,579,000 -4.3%

Internet Gaming Gross Revenue Tax

$70,998,000 $60,505,000 17.3%

Sports Wagering - Retail Gross Revenue Tax

(includes racetracks)

$763,000 $301,000 153.5%

Sports Wagering - Internet Gross Revenue Tax

(includes racetracks)

$33,546,000 $10,959,000 206.1%
Investment Alternative Tax/CRDA Obligations $22,043,000 $20,392,000 8.1%
1.25% Additional Tax $2,131,000 $1,113,000 91.5%
1.25% EDT $1,223,000 $1,492,000 -18.0%
Luxury Tax $15,724,000 $16,055,000 -2.1%
Tourism Promotion Fee $2,559,000 $2,599,000 -1.54%
Hotel Room Fee $3,625,000 $3,628,000 -0.1%
Hotel Room Surcharge $2,418,000 $2,414,000 0.2%
Parking Fees $5,179,000 $5,569,000 -7%

Atlantic City Casino Operator Spending

Source: - Member Reported

Total 183,102 183,251 -0.08%

Purchase of Goods and Services From New Jersey Vendors

(By County)

Q2 2023 Q2 2022
Atlantic  $129,091,000 $140,881,000 -8.37%
Bergen $3,808,000 $2,582,000 47.47%
Burlington $5,057,000 $4,238,000 19.30%
Camden $6,243,000 $5,336,000 16.98%
Cape May $2,834,000 $2,151,000 31.76%
Cumberland $6,628,000 $5,483,000 20.88%
Essex $5,005,000 $7,537,000 -33.59%
Gloucester $2,269,000 $2,456,000 -7.60%
Hudson $800,000 $669,000 19.60%
Hunterdon $32,000 $45,000 -29.03%
Mercer $678,000 $8,582,000 -92.10%
Middlesex $3,422,000 $3,337,000 2.55%
Monmouth $3,195,000 $2,894,000 10.39%
Morris $1,285,000 $1,017,000 26.36%
Ocean  $1,413,000 $532,000 165.62%
Passaic $777,000 $871,000 -10.79%
Salem $81,000 $12,000 580.82%
Somerset $2,132,000 $2,370,000 -10.07%
Sussex $10,000 $8,000 27.92%
Union $7,258,000 $7,325,000 -0.92%
Warren $1,000 $1,000 94.30%

Other Spending

Q2 2023 Q2 2022 %
Capital Expenditures $82,333,000 $109,136,000 -25%
PILOT Contributions (Includes PILOT & additional payments under PILOT legislation) $29,126,000 $28,946,000 1%
CRDA Special Improvement District $314,000 $249,000 26%
Municipal/Atlantic City Fees-  Water $1,207,000 $1,122,000 8%
Municipal/Atlantic City Fees- Sewer $3,963,000 $2,322,000 71%

Municipal/Atlantic City Fees-

Other (permits, boardwalk seating, mercantile etc.)

$1,229,000 $392,000 214%
Charitable Contributions $333,000 $272,000 22%

Total Spending

$301,606,000 $325,689,000 -7%

Atlantic City Statistical Transportation Data

Source:

Travel Mode December
2023
Change
from Prior
Year
December
2022
YTD December
2023
Change
from Prior
Year

 

YTD December 2022

AC Expressway
Total Toll-Paying Traffic
Pleasantville Toll Plaza
1,296,053  2.3% 1,266,808  17,840,652  3.2% 17,296,280
AC Airport
Scheduled Service Passengers 75,818 22.5%  61,894 799,394 -5.0% 841,464
Charter Passengers  4,379 70.1% 2,575  126,718 10.7% 114,483
Total Air Passengers 80,197 24.4% 64,469  926,112 -3.1% 955,947

Atlantic City Meetings and Conventions Data

Source:

  January '24 January '23 % Change
from Prior Year
TOTAL
2024 YTD
TOTAL
2023 YTD
% Change
from Prior Year
Conventions/Tradeshows/Meetings*
# of Shows 8 6 33% 8 6 33%
# of Room Nights 19,956 18,156 10% 19,956 18,156 10%
# of Delegates 46,279 64,367 -28% 46,279 64,367 -28%
Delegate Spending $17,046,132 $16,741,927 2% $17,046,132 $16,741,927 2%
Boardwalk Hall Bookings
# of Shows 1 4 -75% 1 4 -75%
# of Attendees 5,860 10,044 -42% 5,860 10,044 -42%
Hotel Bookings
# of Shows 10 6 67% 10 6 67%
# of Room Nights 8,077 3,697 118% 8,077 3,697 118%
# of Attendees** 8,784 1,646 434% 8,784 1,646 434%
Delegate Spending+ $5,087,121 $1,936,582 163% $5,087,121 $1,936,582 163%
Monthly Totals
# Convs_Trade_Mtgs / Boardwalk Hall / Hotel 19 16 19% 19 16 19%
# of Room Nights 28,033 21,853 28% 28,033 21,853 28%
# of Attendees 60,923 76,057 -20% 60,923 76,057 -20%
Delegate Spending $22,133,253 $18,678,509 18% $22,133,253 $18,678,509 18%

*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 Hall* in 2023

+May 2022 Convention Center delegate spending updated due to an error in calculation formula

Atlantic City Information

Atlantic City CitiStat meetings to be held once per month - As reported by , Business Administrator Anthony Swan announced that future CitiStat meetings will be held once per month in the evenings. Swan cited decreased in-person attendance from the public as the reason for discontinuing the bi-monthly meeting schedule, and hoped a once-monthly meeting would boost attendance. 

Atlantic City Mayor gives State of the City address, announces new projects and completion of ongoing projects - As reported by , Atlantic City Mayor Marty Small Sr., gave his State of the City address on Feb. 2. The city faces a number of and opportunities heading into 2024. Mayor Small told the audience that progress was being made on a $3.7 million federal grant to add 30 more police officers, including 10 that would be assigned to city schools, 10 that would be assigned to walking the beat on Pacific and Atlantic avenues and 10 that would be assigned to a motorcycle unit. Pop Lloyd Stadium on Martin Luther King Jr. Boulevard will be renovated as a hub for youth sports, and the , shuttered since March 2020, will reopen July 1 following renovations financed by American Rescue Plan Funds. There was no announcement regarding development of Bader Field, however the Mayor said he hoped to announce a redevelopment agreement with DEEM Enterprises since the company has lined up financing. The Mayor also announced that the city would get citywide Wi-Fi capability in 2024, the courtyard between City Hall and the city鈥檚 public library and Atlantic County office building will be renovated and named in honor of former DCA Commissioner and Lt. Gov. Sheila Oliver, who died last year,  a dog park will be opened in the Inlet and work to strengthen the Boardwalk from Bellevue to Missouri avenues (financed by a $6 million federal grant) will soon begin. Also speaking at the event, Department of Community Affairs (DCA) Commissioner Jacqueline Suarez noted that in the last seven years $255.2 million in debt service has been paid down and the city has maintained a solid fund balance while lowering property taxes. She said that the DCA continues to build capacity of city government to function efficiently, and indicated that the DCA was close to announcing homeless support plans for the city. 

In the wake of deaths, Atlantic County Prosecutor calls for a collaborative effort to address public safety issues, independent study of police staffing levels - As reported by on Jan. 12, after in the city during the first week of the year, Atlantic County Prosecutor Will Reynolds called on city entities to work to collaborate on public safety issues. , with city officials at an impasse over police staffing, Reynolds called for the commissioning of an independent study on the issue. A on Jan. 20. For the past three years, the annual number of homicides in the city had gone down, from 13 in 2021 to seven in 2022 and 2023. A was held in the city on Jan. 13. 

Judge will not temporarily stop "Road Diet" ahead of trial - As reported by on Jan. 26, Judge Michael Blee ruled that there would be no irreparable harm if Phase II of the "road diet" was completed while the overall goes to trial beginning in February. Opponents to the project argue the 鈥渞oad diet鈥 will cause traffic congestion and prevent emergency vehicles from getting to AtlantiCare鈥檚 emergency department as quickly as possible. The city says federal transportation agencies, state agencies and the city鈥檚 professional staff have all concluded that the road diet will not hinder emergency vehicles on Atlantic Avenue and will improve traffic flow. Phase I of the project (from Maine Avenue in the Inlet to Tennessee Avenue in midtown) is already complete. Phase II is set to begin after the Summer 2024 season and to be completed by Spring 2025 at the latest. 

Pharmaceutical grade air cargo facility at Atlantic City International Airport among plans announced for Atlantic County economic development - As reported by , the Atlantic County Economic Alliance is working to bring new companies into the area in and around the Atlantic City International Airport. Projects include hotels, a youth sports facility and a cargo operation.

Repairs to fire-damaged Boardwalk begin - As reported by , repairs to the section of Boardwalk damaged by a in front of Resorts Casino Hotel have begun. Costs for Boardwalk repairs will be covered by insurance. 

 New Jersey Gaming News

Bill to eliminate smoking ban exemption for casinos moves forward in state senate - According to records of the New Jersey State Legislature, Bill / was introduced to the state Senate and Assembly on Jan. 9 and referred to the Senate Health, Human Services and Senior Citizens Committee and the Assembly Tourism, Gaming and the Arts Committee. The Senate committee approved the bill on Jan. 29, the first of several necessary approvals on a bill that was initially introduced four years ago. Further reporting by  and .

Judge rules casinos have no legal obligation to stop compulsive gamblers from betting - As reported by the on Jan. 31, a judge dismissed a lawsuit brought by a self-described problem gambler who accused Borgata and parent company MGM Resorts International of sending him offers to gamble despite knowing about his adiction. The judge ruled that the rules and regulations governing gambling in New Jersey do not impose a legal duty on casinos to cut off compulsive gamblers. 

淫性视频 Atlantic City Summer Experience: Live-Work-Learn

 National Gaming News

American Gaming Association estimates record number of American adults will wager on Super Bowl LVIII - According to a Feb. 6 , the American Gaming Association expects a record 67.8 million American adults will wager on the Super Bowl in some form, risking $23.1 billion on the gaming (up from $16 billion in 2023). Americans continue to migrate to the legal sports betting market with 28.7 million American adults planning to wager using legal U.S. sportsbooks. 

Nevada Gaming Control Board website hacked - As reported by , on Jan. 26, the Nevada Gaming Control Board (NCGB) confirmed that their website had been hacked. No personal information or financial records were believed to be stolen. 

New York casino licenses could be awarded in 2025 - As reported by , New York Governor Kathy Hochul's budget for the state, which runs through March 31, 2025, does not include revenue from casino licensing fees. The exclusion of the fees, which could be $500 million to $1 billion per licensee, suggests that the casino permits will not be awarded prior to first quarter 2025. 

New York online sports betting generated $862 million in tax revenue for the state; state ranks third for overall gambling handle - As reported by , in their second year of operation, New York's online sportsbooks generated $862 million in tax revenue for the state. New York state ranks third overall in total gaming handle ($35.7 billion) behind New Jersey ($44.2 billion handle) and Nevada ($35.7 billion in handle) for 2023. 

Ohio bettors wager $7.6 billion in first year of legal sportsbooks - As reported by the , gamblers in Ohio wagered more than $7.6 billion with online and retail sportsbooks in 2023 resulting in $936.9 million in gross gaming revenue and $133.1 million in tax revenue. The 32nd state to authorize sportsbetting, based on handle, Ohio was the sixth largest sports betting market in 2023. In addition to retail and online sportsbooks, Ohio allows sports betting via kiosks at bars, restaurants, bowling alleys, grocery stores and other establishments. reports that the Kroger grocery store chain has installed betting kiosks at 20 locations in the greater Cincinnati and Dayton areas.The self-service sports betting machines are operated by UBet Ohio.

Pennsylvania Gaming Control Board (PGCB) reports record gaming revenue in 2023 - According to a Jan. 18 from PGCB, Pennsylvania casinos, fueled by a nearly 28% in iGaming revenue, reported record total gaming revenue in 2023 of $5.7 billion, a 9.3% increase over 2022. The state also generated record gaming tax revenue of $2.3 billion. Further reporting by  and . 

 

Hospitality & Tourism News

Cape May-Lewes Ferry reports increase in ridership, highest since 2010 - As reported by the Delaware River and Bay Authority (DRBA), operators of the ferry, the Delaware Memorial Bridge and the Cape May and Wilmington airports, that in 2023 ridership was up 2% over pre-pandemic 2019 and was the highest since 2010. Fare revenue also increased as did other revenues (vessel, and food and retail).

Indoor Sports Complex planned for Cape May Airport - As reported by , the to lease land for the construction of an 80,000 square-foot indoor sports complex at the Cape May Airport in Lower Township. The project, opperated by  Aviation Sports Complex LLC, is set to break ground in Spring 2024. The airport has been a hub for economic development in the area for several years. 

New Jersey liquor license reform - As reported by , and , on Jan. 16, overhauling the state's liquor license laws for the first time in nearly a century. The new laws ease restrictions on breweries and distilleries and among other things allow breweries more freedom to hold events and partner with food vendors. The new laws also address inactive or "pocket" licenses by requiring license holders to use or sell licenses within a period of two consecutive license terms 鈥 a total of two years. In instances where an inactive consumption license has lapsed and not been renewed for the last eight years, municipalities may issue a new consumption license at public sale for use at a licensed premises located within the town. This could result in as many as 1,356 licenses going back on the market, a 15% increase over the 8,905 currently active licenses. 

Ocean Casino Resort Valets organize - As reported by , the 52 valets at Ocean Casino Resort have voted to join Teamsters Local 331. They join more than 5,000 casino workers nationwide represented by the Teamsters.

Showboat Resort Atlantic City names new general manager- As reported by , Anthony Faranca has been named as the new general manager of Showboat Resort Atlantic City.


LIGHT Snapshots is a publication of the Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism, 淫性视频 School of Business

Jane Bokunewicz, Ph. D., Faculty Director and Associate Professor of Hospitality