June 2024

 

LIGHT Snapshots

 
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鈥檚 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 鈥 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.

Offshore wind project gets hearing in Atlantic City - As reported by , on June 25 representatives of wind energy company Atlantic Shores presented a proposal to run high-voltage transmission cables under the Atlantic City beach, Boardwalk, streets, park and other city land. Atlantic Shores is seeking a state NJDEP Green Acres diversion for the project, which will allow it to transfer electricity from a wind farm roughly 10 miles off the coast to a generation station in Egg Harbor Township. Opponents of offshore windfarms earlier in the day. The U.S. Interior Department on July 2. 

Renovation of Atlantic City's Pop Lloyd Stadium begins - As reported by , on June 17 city officials broke ground on a $5 million renovation to turn the historic baseball field into a multisport recreation center. 

 New Jersey Gaming News

888Casino and 888Poker apps close in New Jersey - As reported by , the888Casino and 888Poker apps officially closed on June 17. The closure follows a series of strategic moves including a partnership between a new 888 platform, Evoke (Poker8) and Hard Rock Digital. 

Bally's Atlantic City celebrates 45th Anniversary, Hard Rock Atlantic City celebrates sixth - As reported by and , celebrated its 45th year in business on June 28. also reported that celebrated its sixth year in business on the same day. 

Constitutional amendment proposed to allow wagering on in-state college teams in New Jersey - As recorded by the New Jersey legislature and reported by and , on June 28 Assemblyman Michael Venezia introduced a constitutional amendment, , that would allow New Jersey sports betting 鈥渢hrough casinos and current or former horse racetracks on all college sport or athletic events.鈥 

Jackpot.com, TheLotter online lottery courier sites launch in New Jersey - As reported by , two online lottery courier sites Jackpot.com and TheLotter launched in New Jersey on May 28 and June 7, respectively. The state now hosts three lottery couriers including (launched in 2019).

New Jersey governor establishes responsible gaming task force - According to a June 14 , New Jersey Gov. Phil Murphy has by established a Responsible Gaming Task Force "responsible for providing advice and recommendations to the Governor鈥檚 Office and to the Attorney General regarding reforms to support responsible gaming and to address problem gambling in New Jersey." Coverage by  and .

New Jersey legislators approve bills to 'stabilize and financially support' horse racing industry - As recorded by the New Jersey legislature and reported by , on June 28 lawmakers voted unanimously in support of a bill (/) that would extend a $20 million subsidy for horse racing purses. A second bill, , allows for the automatic renewal of off-track betting licenses simplifing the licensing process.

New Jersey state budget for FY 2025 does not include increased internet gaming tax revenue from sports betting and online casinos - As reported by , in spite of a recently enacted and legislation () introduced in New Jersey proposing a similar tax rate increase in the state, an increase in internet gaming tax revenue was not included in the . 

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

 National Gaming News

Bally's launches free-to-play online social casino - As reported by  and , Bally鈥檚 Corporation has partnered with social casino gaming company Ruby Seven Studios to launch Bally Play, an online social casino with in-app purchases, but no possibility of winning actual money.

Connecticut Lottery launches iLottery - As announced by , after a soft launch period in June, Connecticut launched iLottery on July 1. Purchase options are limited to draw games; no scratchers and instant-win games are available. Coverage by .

Delaware bill to expand state's online sports betting dies with end of legislative session - As reported by , with the end of Delaware's legislative session a bill () that would have authorized two skins each for the state鈥檚 three casinos - expanding the state's online sports betting operators to seven has died. The state continues to offer online sports betting through a single operator, the Delaware Lottery, which partners with BetRivers. 

Evolution partners with Rush Street Interactive to bring live dealer games to BetRivers Casino in Delaware - As reported by , through an expanded partnership with Rush Street Interactive, Evolution will now offer live dealer games in Delaware. The company has a presence at all three Delaware Lottery-operated online casinos. 

New York Gaming Facility Location Board provides updated timeline - As reported by , updated the timeline for the issuance of three downstate casino concessions. Applications for the downstate licenses will be due by June 27, 2025 and, after a bidding and review process, winners will be announced by December 1, 2025. Further reporting by . 

Pennsylvania Online casinos pass $200 million in revenue for fourth consecutive month - As reported by , online casino operators in Pennsylvania realized $216,491,295 in May win. This is the second-highest single-month revenue total in state history and the fourth consecutive month of online gaming revenues of over $200 million. More information from the . 

Tribal Casinos generated record Gross Gaming Revenue in government fiscal year 2023 - As reported by , tribal casinos in the United States generated a record $41.9 billion in gross gaming revenue (GGR) during the federal government鈥檚 2023 fiscal year (Oct. 1, 2022, through Sept. 30, 2023). Tribal casinos saw their gaming win increase by $1 billion during the 12-month span, a 2.4% year-over-year increase.

UNLV releases report on impact of casino free-play promotions - According to a June 25 , a recent conducted by a researcher at UNLV鈥檚 Harrah College of Hospitality, found that reducing the amount of free-play resulted in minimal to no change in visitation or visit-level spend. Further reporting by . 

U.S. Supreme Court denies appeal to Florida's decision regaring tribal gaming compact - As reported by , on June 17, the United States Supreme Court announced it won鈥檛 accept an appeal of Florida鈥檚 decision to allow the Seminole Tribe to operate online sports betting through computer servers located on Native American sovereign land.

Washington, D.C. may end mobile sports wagering monopoly - As reported by and , the includes an amendment that would broaden the mobile sports wagering market by ending FanDuel's monopoly and allowing up to seven additional District-wide mobile sportsbooks. 

 

Hospitality & Tourism News

American Hotel and Lodging Association (AHLA) responds to June jobs report - As reported in an news release, the records total U.S. hotel employment as of June 2024 at 1.92 million, 196,000 fewer workers than in February 2020 just before the start of the pandemic. Despite increased wages, benefits and workplace flexibility, operators are still finding it difficult to fill open hotel positions amid a nationwide workforce shortage. As of May 2024, reported 8.1 million job openings for 6.6 million unemployed people. 

Atlantic City Aquarium reopening date pushed to September - As reported by after receiving funding in January for a revamp of the city's aquarium located in Gardner's Basin, and announcing a reopening date of July 1 following exterior renovations, officials have announced that the reopening of the Atlantic City Aquarium has been delayed to September. The aquarium has been closed since the March 2020 COVID-19 shutdown. 

Atlantic City Beer and Music Festival canceled - As reported by , for the first time in the history of the Atlantic City Beer and Music Festival, organizers planned two events for this year. The first event in April at the Atlantic City Convention Center drew 14,000 to the resort (down from 26,000 when a single annual event was held at the Convention Center in 2019). The second festival, scheduled for July 13 at Bader Field, has been canceled due to low ticket sales. The Beer Fest has been a staple in Atlantic City since its launch in 2006.

Atlantic City Honors World War II veteran with memorial, monument unveiling on 80th Anniversary of D-Day - As reported by , Atlantic City marked the 80th Anniversary of D-Day, June 6, 1944, with a memorial and unveiling of a monument honoring local war medic Bernie Friedenberg in O鈥橠onnell Memorial Park.

Atlantic City makes "Top 25 list" of convention cities - As reported by , according to the (compiled annually by since 2020), Atlantic City has joined the top 25 cities in the U.S. for convention business unseating San Francisco for the number 25 spot in 2024. From number 21 to 24 just ahead of Atlantic City are San Antonio, Texas; Washington, D.C.; St. Louis, Missouri; and Miami Beach, Florida. Larger destinations, Chicago (#1), followed by Atlanta, Dallas, Orlando and Houston make the top five.

Cape May County Board of Commissioners take steps to retake control of the Cape May County Airport - As reported by , the Commissioners have given notice to the Delaware River and Bay Authority (), which has operated through a 25-year-old lease agreement, that it will not automatically renew the lease and "has decided to terminate this agreement and engage with other interested parties to operate, manage and develop" the airport. Not all of the commissioners were in agreement, as Commissioner voted against the move.

Emergency beach project in North Wildwood 'saves summer' - As reported by , an emergency beach replentishment project in North Wildwood is complete. According to Wildwood mayor, Patrick Rosenello, the restored beaches were critical for local tourism and economic activity this summer and will help protect North Wildwood from storm-powered tides this winter. 

Margate hosts 13th annual Beachstock at Margate City Public Library - As reported by , more than 5,000 people gathered June 29 for the 13th annual Beachstock.The free 14-hour event is organized by the Margate Business Association in conjunction with the city and event sponsors to bring the community together and provide entertainment for the entire family.

Room rates on Las Vegas strip expected to rise as market loses inventory with Tropicana and Mirage closures - As reported by , with Tropicana closed as of April (1,467 guestrooms) and Mirage to close on July 17 (3,044 guestrooms), the Las Vegas strip is expected to lose 4,511 rooms from its inventory. The decreased supply is expected to drive up room rates at least until Hard Rock completes its renovations of the Mirage and returns that inventory (and more) to the market sometime around the Spring of 2027. The Tropicana property is being demolished for redevelopment - possibly as an MLB stadium. 

淫性视频, Atlantic City host events to commemorate Juneteenth - As reported by 淫性视频 and , on June 15 Community Resource Services Inc. hosted a Juneteenth Freedom Day event at Atlantic City's Brown's Park. On June 17, members of the community also gathered in the Kesselman Hall quad on the Atlantic City campus to mark the events of June 19, 1865 with a program titled 鈥淏lack Power and Appreciation.鈥  

'The Hook' celebrates first year at Caesars Atlantic City - As reported by , Spiegelworld, producers of 'The Hook,' celebrated the show's first anniversary on June 13.  

Wildwood Board of Commissioners approved backpack ban - As reported by , Wildwood's Board of Commissioners approved an ordinance banning backpacks and other bags larger than 8 inches from the beaches and Boardwalk after 8 p.m. The ordinance, similar to one passed in Ocean City last year is intended to prevent young people from bringing alcohol or other contraband to the beach and Boardwalk.

Wildwood hosts 101st National Marbles Tournament and Fourth Barefoot Country Music Festival - As reported by , Wildwood hosted the 101st from June 17 to 20 at Ringer Stadium on the beach near East Wildwood Avenue. The event is the longest running kids tournament in the country. Also as reported by Wildwood hosted the for the fourth year from June 20 - 23. Despite the National Weather Service issuing a heat advisory for the region, the four-day, outdoor beach concert was considered a success with attendance predicted to be 125,000 - 130,000. Further reporting from . 

Wildwood Naval Air Station and Museum hosts 'Wings and Things Festival' - As reported by , the Naval Air Station Museum hosted the 'Wings and Things Festival' on June 29. The fourth annual festival featured 100 muscle cars, more than 25 craft vendors and more.

 


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