March 2022 Snapshots
In LIGHT of the data.
Total single month revenue for Atlantic City casino operators in March 2022 ($382.9 million) improved on February 2022 ($356.7 million) by 7%, but outperformed pre-pandemic March 2019 ($273.7 million) by 40%. Brick-and-mortar revenues for the month ($216.6 million) unfortunately tell a slightly different story, improving on February 2022 but falling short of March 2019 ($223.2 million).
Total gross gaming revenues for casino operators in the first three months of 2022 ($ 1,079.7 million) represent a new near term high, outpacing the same period in 2019 ($726.7 million) by 49% and 2011 ($793.9) by 36%. This performance is almost entirely driven by online and sports wagering revenues as evidenced by Casino Win (brick-and-mortar revenue) for the same three-month period ($612.7 million), which was promisingly on par with 2019 Casino Win ($597.1 million), but well short of 2011 ($793.9 million), which pre-dates both internet gaming and sports wagering in the state.
With such a strong start to the year we have every reason, barring as yet unforeseen complications, to expect 2022 to set new near-term records for total annual gross gaming revenue. However, operators may still struggle to gain ground on pre-pandemic 2019 in terms of brick-and-mortar gaming revenues.
Market pressures such as gas prices likely had an impact on March 2022 totals, which fell short of 2019. In comparison, January and February 2022 each exceeded 2019 single month brick and mortar revenue totals.
One indicator that has been slow to recover from the pandemic is casino employment. As the industry heads into the summer season, traditionally a period with higher demand for in-person gaming, we will begin seeing the restoration of some casino jobs in the city. But it is unlikely to result in pre-pandemic levels of employment, at least in the short term.
Atlantic City Gaming Win & Total Casino Revenue
Source:
Monthly Revenue (Industry, $ In Thousands) |
March 2022 |
% Change from Prior Year | March 2021 | YTD March 2022 | % Change from Prior Year | YTD March 2021 |
---|---|---|---|---|---|---|
Total Gaming Win (includes Internet & Sports Wagering) | $382,893 | 17.8% | $324,994 | $1,079,732 | 22.8% | $878,960 |
Sports Wagering Revenue | $25,627 | -3.1% | $26,451 | $58,580 | -21.5% | $74,596 |
Internet Gaming Win | $140,655 | 23.7% | $113,669 | $408,481 | 31.3% | $311,240 |
Casino Gaming Win | $216,611 | 17.2% | $184,874 | $612,672 | 24.2% | $493,124 |
Quarterly Revenue (Industry, $ In Thousands)** | Q4 2021 | % Change from Prior Year | Q4 2020 | YTD December 31, 2021 | % Change from Prior Year | YTD December 31, 2020 |
---|---|---|---|---|---|---|
Casino | $452,937 | 21.8% | $372,012 | $1,781,740 | 44.0% | $1,237,617 |
Rooms | $135,229 | 77.8% | $76,059 | $617,785 | 93.1% | $319,936 |
Food & Beverage | $111,653 | 105.3% | $54,390 | $408,335 | 95.3% | $209,036 |
Entertainment & Other | $64,262 | 80.2% | $35,659 | $215,671 | 80.5% | $119,490 |
Casino Licensees Total Revenue | $764,081 | 42.0% | $538,120 | $3,023,530 | 60.3% | $1,886,079 |
** Data agregated from New Jersey Division of Gaming Enforcement for individual properties, includes amended totals as of April 12, 2022. 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, 2021 & 2020 |
Q4 2021 | Q4 2020 | YTD 2021 | YTD 2020 |
---|---|---|---|---|
Occupancy percentage | 66.39% | 46.25% | 67.60% | 61.75% |
Average Daily Room Rate (ADR) | $156.60 | $121.58 | $172.88 | $139.74 |
Revenue Per Available Room (RevPAR)* | $103.97 | $56.24 | $116.87 | $86.28 |
* RevPAR= ADR X Occupancy Percentage
Atlantic City Statistical Transportation Data
Source:
Travel Mode | February 2022 |
Change from Prior Year |
February 2021 |
YTD February 2022 |
Change from Prior Year |
YTD February 2021 |
---|---|---|---|---|---|---|
AC Expressway | ||||||
Total Toll-Paying Traffic Pleasantville Toll Plaza |
1,189,222 | 28.8% | 923,004 | 2,250,430 | 18.8% | 1,894,512 |
AC Airport | ||||||
Scheduled Service Passengers | 63,925 | 98.7% | 32,166 | 121,354 | 93.1% | 62,831 |
Charter Passengers | 7,192 | 392.9% | 1,459 | 13,777 | 406.0% | 2,723 |
Total Air Passengers | 71,117 | 111.5% | 33,625 | 135,131 | 106.1% | 65,554 |
Atlantic City Meetings and Conventions Data
Source:
March '22 | March '21 | % Change from Prior Year |
TOTAL 2022 YTD |
TOTAL 2021 YTD |
% Change from Prior Year |
|
---|---|---|---|---|---|---|
Conventions/Tradeshows/Meetings* | ||||||
# of Shows | 9 | 1 | 800% | 18 | 1 | 1,700% |
# of Room Nights | 8,393 | 1,778 | 372% | 30,522 | 0 | N/A |
# of Delegates | 93,029 | 1,200 | 7,652% | 174,366 | 36 | 484,250% |
Delegate Spending | $13,329,123 | $1,331,747 | 901% | $32,560,553 | $4,125 | 789,247% |
Boardwalk Hall Bookings | ||||||
# of Shows | 2 | 0 | N/A | 8 | 0 | N/A |
# of Attendees | 23,199 | 0 | N/A | 55,084 | 0 | N/A |
Hotel Bookings | ||||||
# of Shows | 12 | 5 | 140% | 24 | 3 | 700% |
# of Room Nights | 12,202 | 1,970 | 519% | 25,843 | 448 | 5,660% |
# of Attendees | 11,863 | 5,106 | 132% | 37,103 | 11,375 | 226% |
Delegate Spending | $8,319,847 | $978,389 | 750% | $17,699,491 | $2,232,463 | 693% |
Monthly Totals | ||||||
# Convs_Trade_Mtgs / Boardwalk Hall / Hotel | 23 | 6 | 283% | 50 | 4 | 1,150% |
# of Room Nights | 20,595 | 3,748 | 449% | 56,365 | 448 | 12,481% |
# of Attendees | 128,091 | 6,306 | 1,931% | 266,553 | 11,411 | 2,236% |
Delegate Spending | $21,648,970 | $2,310,136 | 837% | $50,260,044 | $2,236,588 | 2,147% |
Notes:
Reduction in figures beginning mid-March 2020 are due to cancellations and/or shut downs as a result of COVID-19
January 2021 hotel attendees reflect virtual attendance numbers
*Includes Meet AC events booked at Boardwalk Hall
LIGHT Snapshots is a publication of the Lloyd D. Levenson Institute of Gaming, Hospitality
& Tourism, ÒùÐÔÊÓƵ School of Business
Jane Bokunewicz, Ph. D., Faculty Director and Associate Professor of Hospitality
Atlantic City Information
Atlantic Avenue 'No Tolerance' policy begins - As reported by , starting March 1, the city began posting more police officers on Atlantic Avenue in an effort to address neighborhood complaints. Continuing coverage from .
Atlantic City jobs training program begins at City Hall - As reported by , under the guidance of Community Development Block Grant Director Marc A. Starling, the Atlantic City program has committed $150,000 in grant funds to get individuals back in the workforce. City residents participating in the program will receive assistance with job searches and have access to job counselors who will follow up with clients after 30, 60 and 90 days of employment to help with any problems, such as transportation or child care, that might impede a person’s ability to stay employed.
Masks no longer required in city buildings - As reported by , effective March 16 masks were no longer required in Atlantic City-owned buildings.
Neighborhood Revitalization Tax Credit to fund more than $2 million in projects for Atlantic City - As reported by , the N.J. Department of Community Affairs has announced that a total $14 million will be awarded to 19 community-based nonprofits accross the state including a total $2.05 million to three Atlantic City non-profits — $985,000 to the Atlantic City Development Corp. for use in the Chelsea neighborhood; $540,000 to the AtlantiCare Foundation, to be spent in Midtown; and $521,000 to the Atlantic County Economic Alliance for the Ducktown neighborhood.
New Jersey governor announces new executive director of Casino Reinvestment Development Authority - According to a March 17 , New Jersey Governor Phil Murphy announced the appointment of Sean M. Pattwell as executive director of the Casino Reinvestment Development Authority (CRDA). Mr. Pattwell was unanimously approved by the CRDA’s Board of Directors on March 15.
PILOT hearing set for April 25 - As reported by , a hearing on the motion to reconsider changes to the Atlantic City Payment In Lieu of Taxes (PILOT) law wil be held on April 25. The hearing had originally been scheduled for April 1.
New Jersey Gaming News
Bally's Atlantic City names new General Manager - As reported by , and , former Assistant General Manager, Michael Monty has been named General Manager of Bally's Atlantic City. Former General Manager, Nick Polcino is reported to be moving to another Bally's Corp. property in the Northeast as General Manager.
Bill authorizes Casino Reinvestment Development Authority to finance transportation projects - As recorded by the and reported by T, Bill "authorizes CRDA to finance transportation projects between Atlantic City Airport and Atlantic City Tourism District." Under current guidelines, CRDA must commit all assets and revenues to community development and the Tourism District in Atlantic City. The Bill, which passed out of the Senate Committee on March 24, would permit a limited expansion of this focus.
Bill proposes to use 1.25 percent tax on sports wagering for local Atlantic City tax relief - As recorded by the and reported by , Bill "provides that 1.25 percent of tax on sports wagering revenues be used for local tax relief purposes for Atlantic City." Funds collected from the 1.25 percent tax on sports wagering are currently directed to the Casino Reinvestment Development Authority (CRDA) for the marketing and promotion of the city. The Bill's sponsor estimates that passage of the bill would make and estimated $2.5 million available to the city annually. As of March 24 the Bill was referred to the Senate Budget and Appropriations Committee.
Debate of Atlantic City casino indoor smoking ban continues - According to reporting from , , and others, the debate over a ban on indoor smoking in Atlantic City casinos continues. According to as of March 21, 35 members of the state Assembly and Senate had sponsored a measure () to "eliminate the smoking ban exemption for casinos." The issued a statement opposing the ban.
DraftKings fined $150,000 for accepting proxy bets - As reported by , on March 2, the New Jersey Division of Gaming Enforcement announced that it had come to an agreement with DrafKings concerning proxy betting incidents that are forbiden under state regulations. The company was fined $150,000 for allowing a Florida man to make online bets through a friend in New Jersey. Further coverage from .
National Gaming News
American Gaming Association (AGA) estimates 45 million Americans wager on March Madness - According to a March 13 and , the AGA estimated more than 17% of American adults will wager $3.1 billion on the 2022 NCAA Men’s Division I Basketball Tournament.
Congressional Gaming Caucus introduces federal legislation, SLOT Act - As reported by , , and , members of the Congressional Gaming Caucus introduced the Shifting Limits on Threshold Act () on March 3. The act seeks to increase the Internal Revenue Service (IRS) reporting limit for single-spin jackpots from $1,200.00 to $5,000.00. The current limit was set by Congress in 1977 and has remained unchanged since. The released a statement in support of the legislation.
Maryland sportsbooks take less bets in second full month of operation, mobile sports betting on hold - According to , following a stagered launch in December 2021, Maryland's five retail sportsbooks took 21.5% less in handle in February 2022 (their second full month of operation) than January 2022. A date for the launch of mobile sports betting, seen as crucial for the growth of the Maryland sports betting market, has yet to be set. The Sports Wagering Application Review Commission cannot set rules for mobile wagering until receiving the results of a new disparity study. As of the disparity study was underway with no timeline for completion.
New York online casinos unlikely in 2022, possible in 2023 - According to , online casino gambling, or "iGaming" was not included in the 2022 New York state budget. State Senator Joseph Addabbo told the press that it would be a "full-court press" to have iGaming included in the 2023 state budget. Allowing time for regulatory steps between legalization and launch, the earliest New York State could enter the online casino market would be late 2023.
Pennsylvania gross gaming revenue (GGR) declines for third consecutive month - As reported by , Pennsylvania's February 2022 GGR declined 4.4% compared to January 2022 making it the third consecutive month of month-to-month declines following record high revenues in November 2021. Sports betting losses may have suppressed state total GGR for the month as sports books lost $442,847 in February 2022 compared to a win of $16.3 million in February 2021. Further coverage from and .
PokerStars announces Spring Championship Tournaments - According to , PokerStars hosted the Spring Championship of Online Poker (SCOOP) series in New Jersey, Pennsylvania and Michigan from March 25 through April 11. New Jersey players had their choice of 105 tournaments as part of the series, Pennsylvania had 120 tournaments and Michigan had 120 tournaments at various buy in levels. This is the first year PokerStars ran the Spring Series in all three states concurrently, "setting the stage for the possibility of the three states joining the same pool on a larger PokerStars network." Further New Jersey coverage from .
Sportsbooks nationwide see drop in handle in February - According to , New Jersey sportsbooks (-26.9%) weren't the only books to experience a month to month drop in handle from January 2022 to February 2022. Iowa (-28.8%), Tennessee (-18.8%), Indiana (-18.2%) and New York's newly launched books (-9%) all experienced month to month declines in handle. Declines can be attributed to a reduced sports calendar with the Super Bowl not quite making up for the lack of other football games, and the NBA and NHL both on All-Star breaks.
Virginia State Legislators push for high school gaming education - As reported by , Virgina legislators introduced House Bill 108, which if passed, would instruct the Virginia Board of Education to provide public schools with programs to teach the dangers of gambling in the same manner as drugs and alcohol are presented. Virginia became a commercial gaming state in 2021 with the introduction of legal mobile sports betting.
West Virginia Satelite Gaming bill - As repoted by , , which would have permitted the state's five commercial casinos to each build smaller satelite gaming venues, stalled in committee and is now 'dead' with the end of the 2022 legislative session on March 12.
New Jersey Hospitality & Tourism News
Atlantic City City Council applies to Casino Reinvestment Development Authority (CRDA) for funds to improve and operate ice skating rink -As reported by , on March 16, Atlantic City's City Council voted to authorize application to the CRDA for capital improvement ($675,000) and operating funds ($135,000 of which $44,000 has been already received) for the now city run ice rink near Bader Field. The city has taken over opperation of the 23-year-old after former operator, Black Bear Sports Group, and the CRDA failed to reach a new lease agreement.
Cape May announces 2022 Summer Concert Series - As reported by , Cape May has announced a series of nine performances to fill Convention Hall for Summer 2022.
Cornhole League, Pickleball Championship tournaments come to Atlantic City - As reported by , from March 18 to 20, Showboat Atlantic City hosted The American Cornhole League Tournament which was nationally televised. In September the Atlantic City Convention Center will host the Indoor Open Pickleball Championship. Both sports, growing in popularity nationwide, are expected to bring "substantial good publicity" to the resort.
Metro Atlantic Athletic Conference (MAAC) extends contract to hold men's and women's basketball tournaments at Jim Whelan Boardwalk Hall - as reporeted by , MAAC will extend their tournament contract with Boardwalk Hall for one more year. MAAC innitially signed a three-year contract with Boardwalk Hall starting in 2020. The 2020 tournament was cut short by COVID and attendance of the 2021 tournament was limited to family and friends due to pandemic restrictions. The 2022 tournament (March 8-12) is the first to be offered in a "post-COVID environment." Despite being cut short, the 2020 tournament brought a 10,089 attendees to the city who generated 2,619 room nights and $3.7 million in economic output.
Former Atlantic City rooming houses to become 'boutique hotel' - As reported by , on March 15, the Casino Reinvestment Development Authority (CRDA) Board of Directors voted to unanimously approve the sale of three former rooming houses to a developer for $150,000. The developer, Liberty Hudson Holdings LLC, plans to combine the properties at California Avenue and Albion Place into a single boutique hotel operating nine guest rooms in each building. The developers are not seeking any financial subsidies from the CRDA other than the reduced price of the buildings, which stand less than a block away from the beach and boardwalk.
Progressive Atlantic City Boat Show returned for 2022 - After a year hiatus due to COVID, one of the Atlantic City Convention Center's largest annual events returned to the city March 2 through March 6. ACBoatShow.com and .
National Hospitality & Tourism News
Frontier and Spirit Airlines announce expanded Las Vegas operations ahead of merger - As reported by , and Airlines have each announced expanded service through Harry Reid International Airport – Las Vegas (LAS). Last year, Spirit and Frontier collectively facilitated 8.6 million passengers through Las Vegas’ international airport.
Global hotel companies shut down operations in Russia in response to invasion of Ukraine - As reported by , several major hospitality companies have announced plans to close offices in Russia and to provide support for refugees. , , , and are among them. The industry has also launched the initiative, which is activly providing information and hotel rooms to Ukrainian refugees.
San Diego State University releases 'Analysis' of in-person business travel and meetings in comparison to virtual options - According to Analysis () released by San Diego State University, "in-person business travel and meetings have undeniable advantages over virtual options, and... businesses and organizations that resume business travel and meetings more quickly are likely to have a competitive edge over those that do not."
Transportation Security Administration (TSA) extends mask mandate to April 18 - According to a March 10 , TSA has extended the "security directive for mask use on public transportation and transportation hubs" for one month as public health organizations, including the CDC, work on a revised policy framework for mask requirments. Further coverage by .
U.S. Travel Association responds to February 2022 jobs report - According to the released by the US Bureau of Labor Statistics March 4, 73 percent of jobs still lost due to the pandemic are in leisure and hospitality. Further coverage by . In a March 4 , U.S. Travel Association Executive Vice President of Public Affairs and Policy Tori Emerson Barnes, noted: "While overall U.S. employment is just 1.4% below 2019 levels, L&H is down a disproportionate 9%." Barnes called on the President and Congress to take action saying, "today’s job numbers reflect the great need to accelerate the return of business and international inbound travel and the recovery of these L&H positions."