May 2024

 

LIGHT Snapshots

 
May 2024
 

In LIGHT of the data.

Both brick-and-mortar and total gross gaming revenues (GGR) compared favorably to May 2023 and April 2024, turning in totals that were the highest seen in recent years. Brick-and-mortar revenue for the month exceeded 2019 (best May since 2014) and total GGR for the month was the best May seen since before 2011.
Despite a slow start to the year, revenues in May brought brick-and-mortar operations in 2024 to near level with 2023, while total GGR for the year-to-date continued an upward trend buoyed by gains in internet and sports wagering revenues.

While revenues increased, so have expenses, and while revenues for the month and year-to-date compare favorably to prior periods, they may not translate into similar increases in gross operating profit down the line.
Inflation impacts both operators (in the form of costs of goods and wages) and consumers (in the form of prices), so it is especially Interesting that, even in times of inflationary pressure, consumers still seem willing to spend their discretionary money with New Jersey鈥檚 casino operators. 

Atlantic City Gaming Win & Total Casino Revenue

Source:

Monthly Revenue (Casino Licensees, $ In Thousands

May 2024

% Change from Prior Year May 2023 YTD

 2024

% Change from Prior Year YTD   2023
Casino Gaming Win 239,131 5.2% 227,347  1,112,019 -0.2% 1,114,112
Internet Gaming Win 192,073 19.0% 161,412 942,763 20.6% 781,520
Sports Wagering Revenue 36,026 4.0% 34,654 187,422 22.8% 152,630
Total Gaming Win (includes Internet & Sports Wagering) 467,230 10.3% 423,412  2,242,205 9.5% 2,048,263
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 April
2024
Change
from Prior
Year
April
2023
YTD 
2024
Change
from Prior
Year

 

YTD  2023

AC Expressway
Total Toll-Paying Traffic
Pleasantville Toll Plaza
1,373,389 2.4% 1,341,194 5,323,583  2.8% 5,176,401
AC Airport
Scheduled Service Passengers 84,156 12.8% 74,640 321,656 23.9% 259,650
Charter Passengers  9,854 -14.6% 11,533 28,857 -18.6% 35,433
Total Air Passengers 94,010 9.1% 86,173 350,513 18.8% 295,083

Atlantic City Meetings and Conventions Data

Source:

  May'24 May '23 % Change
from Prior Year
TOTAL
2024 YTD
TOTAL
2023 YTD
% Change
from Prior Year
Conventions/Tradeshows/Meetings*
# of Shows 6 6 -17% 33 37 -11%
# of Room Nights 10,894 10,228 7% 56,351 56,846 -1%
# of Delegates 47,883 55,244 -13% 258,669 297,920 -13%
Delegate Spending $10,594,526 $11,236,694 -24% $58,703,177 $63,776,862 -8%
Boardwalk Hall Bookings
# of Shows 6 4 50% 15 16 -6%
# of Attendees 30,035 29,634 1% 87,722 95,461 -8%
Hotel Bookings
# of Shows 12 11 9% 58 49 18%
# of Room Nights 8,228 8,973 -8% 44,516 34,648 28%
# of Attendees 7,084 6,225 14% 46,196 33,842 37%
Delegate Spending $4,988,872 $5,283,502 -6% $27,517,203 $21,167,475 30%
Monthly Totals
# Convs_Trade_Mtgs / Boardwalk Hall / Hotel 24 21 14% 106 102 4%
# of Room Nights 19,122 19,201 0% 100,867 91,494 10%
# of Attendees 85,002 91,103 -7% 392,587 427,223 -8%
Delegate Spending $15,583,398 $16,520,196 -6% $86,220,380 $84,944,337 -2%

*Includes Visit Atlantic City events booked at Boardwalk Hall
7/17/24 - Please note May 2024 Convention/Tradeshow/Meetings figures have been updated due to final audits being received after reporting deadline.

Atlantic City Information

Caesars Entertainment makes gifts to local charities - As reported by , Caesars Entertainment resorts in Atlantic City recently donated $140,000 to local organizations, including the 200 Club of Atlantic and Cape May Counties, Avanzar, Boys and Girls Club of Atlantic City, CASA (Court Appointed Special Advocates) and Community FoodBank of New Jersey 鈥 Southern Branch, on behalf of the Caesars Foundation.

Department of Community Affairs open to discussing extension of Atlantic City takeover beyond 2026 - As reported by , the state Department of Community Affairs (DCA) is open to discussing an extension of the state takeover of Atlantic City past 2026, and is working with another state agency and the federal Department of Housing and Urban Development to help fund improvements to public housing in the resort.

New Jersey Economic Development Authority awards over $4.4 million in grants for for mixed-use development projects in the Orange Loop - As reported by , Authentic City Partners LLC was awarded more than $3.4 million in funds through the New Jersey Economic Development Authority's Atlantic City Revitalization Grant Program to redevelop a vacant six-floor property at 151 S. New York Avenue into 17 residential units and a restaurant with a rooftop bar. Realty Managment ink received $1 million from the same program to transform a three-story building at 215 S. Tennessee Ave. into a Monopoly-themed boutique hotel called "The Top Hat."

'Road Diet' on hold - As reported by , on May 14, Atlantic County Superior Court Assignment Judge Michael Blee granted the Casino Reinvestment Development Authority (CRDA) a preliminary injunction to stop work on Phase 2 of the Atlantic Avenue 'road diet.' The judge gave the CRDA 45 days to review the city's plans for the project.

Testimony given in lawsuit over conditions at Stanley Holmes Village, residents ask for their turn to speak - As reported by , Atlantic City Housing Authority Executive Director Tom Sahlin testified June 5 for the first time in a lawsuit over conditions at Stanley Holmes Village. About 146 residents of the 420-unit complex are suing over a lack of heat and hot water, frequent gas leaks, mold and pest infestations, water intrusion and more. A lawyer representing the residents when some of her plaintiffs can testify.

 New Jersey Gaming News

Caesars Palace Online Casino updates app - As reported by , "the upgraded Caesars Palace Online Casino NJ app introduces an industry-first feature with its multi-lobby navigation system, providing users with a dynamic and curated gaming environment." The design is said to mimic a real-life casino floor with "lobbies" for popular games such as slots and live dealer experiences. 

Evolution files plans for $75 million Live Casino Dealer Studio Campus - As reported by , and , on May 21, iGaming company Evolution presented plans to the CRDA to build a dedicated live dealer casino games studio at 2301 Fairmont Ave. in Atlantic City.

Jackpot.com, lottery courier, launches in New Jersey - As reported by , Jackpot.com, a new online lottery courier, launched in New Jersey on May 29. New Jersey marks the sixth state for Jackpot.com, which enables consumers to purchase lottery tickets online via a web marketplace or on a mobile device.

Monmouth Park Racetrack breaks ground on Caesars trackside sportsbook - As reported by and , on May 7, officials with Darby Development and Caesars Entertainment ceremonially broke ground on a project that will bring a standalone 16,000-square-foot sports betting facility to a location off the southern end of the Monmouth Park grandstand. The sportsbook, expected to open in 2025, will feature indoor and outdoor seating, a staffed betting window, and 25 self-service wagering kiosks. 

Ocean Casino Resort adds direct helicopter service to and from New York - As reported by , Ocean Casino Resort has launched a new commercial booking service to make helicopter travel accessible to a wider range of guests. Ocean has partnered with Blade Air Mobility, an aviation company headquartered in New York City, to provide helicopter transportation service between the beachfront property and Blade's terminal on West 30th Street in Manhattan.

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

 National Gaming News

Culinary Union Local 226 led 48-hour strike against Virgin Hotels Las Vegas - As reported by the and , more than 700 workers with Culinary Union Local 226 walked off the job at Virgin Hotels in Las Vegas on May 10 and ended the strike on May 12. The strike was meant to pressure the property to agree to a five-year contract on wages and benefits. As reported by , Virgin Hotels presented its 鈥渓ast, best and final offer鈥 on May 22. 

Dave & Buster's peer-to-peer in-app betting gets pushback from regulators - As reported by , following announcement of a new in-app betting feature, Dave and Buster's received pushback from state lawmakers and regulators in commercial gaming states. Ohio's state gaming commission voiced 'serious concerns' about betting being facilitated for arcade games. Illinois lawmakers introduced a bill to prohibit the company from allowing the in-app betting. After the Nevada Gaming Control Board recommended that the Nevada Gaming Commission adopt a regulation prohibiting arcades from facilitating any form of social peer-to-peer betting, Dave & Buster's announced that the betting function would be disabled within Nevada. Dave & Buster's operated 162 locations in the U.S.

Delaware legislatures advance bill to expand sports betting, end monopoly - According to , Delaware state legislators have advanced a bill () that would expand sports betting in the state beyond the current BetRivers lottery monopoly. 

Details of $3 billion integrated casino resort, The Coney, released in bid for New York casino development on Brooklyn's Coney Island - As reported by , a consortium consisting of Saratoga Casino Holdings, the Chickasaw Nation鈥檚 Global Gaming Solutions, Legends Hospitality Group, and Thor Equities, is targeting five acres of land in Coney Island at Surf and Stillwell avenues for the development of a $3 billion integrated casino resort to be called "." The consortium pledges to dedicate space inside the resort for locally owned businesses, to hire thoughsands of people (with a preference for area residents) and to turn the seasonal terminus into a year-round destination. Plans released include a 500-room hotel, 2,500-seat concert venue, over a dozen restaurants and bars, 90,000 square feet of meeting space, and a 鈥渨orld-class gaming facility.鈥

Dispute with city halts planned Encore Boston Harbor addition - As reported by , , and , a proposed expansion of the Encore Boston Harbor has been postponed indefinitely due to a disagreement between casino officials and city leaders over fees and taxes. Plans to expand Encore Boston Harbor from a casino into a full-fledged entertainment center have been in consideration since 2022. 

Illinois legislture passes budget bill including tiered sports betting tax increase - According to , members of the Illinois House of Representatives voted to pass the state's $53.1 billion budget bill. The bill includes $1.1 billion in new revenues, including a tiered Illinois sports betting tax hike that raises rates based on total revenue collected. The original tax rate of 15% will increase to 20% with additional increases up to 40% based on revenue. Online and in-person sports betting revenue will be taxed separately. The 40% rate will be the second-highest sports betting tax in the US, behind New York鈥檚 51%.

Massachusetts legislators fail in attempt to increase tax on sports wagering - As reported by , legislators in Massachusetts failed in their efforts to raise the state鈥檚 effective tax rate on gross revenue won by online sportsbooks from 20% to 51%. Legal, in-person sports betting at Massachusetts鈥 three casinos began on Jan. 31, 2023. Online sportsbooks went live on March 10, 2023.

Mirage in Las Vegas closes July 17 - As reported by and , the iconic Mirage Hotel and Casino on the Las Vegas strip closed on July 17. The 3,000-room resort opened in 1989 by Steve Wynn will undergo a three-year renovation to remove the property's tropical theme. The resort will reopen in 2027 as Hard Rock Las Vegas. 

New York state senator seeks to legalize online poker by declaring it a game of skill, increase revenue from fantasy sports - As reported by , New York State Senator Joseph Addabbo Jr. (D-15th) has filed a bill () that would legalize online poker in the Empire State by having it declared a game of skill. A previous bill, which would have legalized online casino gaming and online poker, failed to gain support as have past bills seeking to legalize online poker alone. Legislators have been trying to legalize the online game almost every year since 2014. According to , Addabbo has also proposed a bill that would increase revenue for the state by charging a $5 million initial registration fee for fantasy sports wagering operators and a renewal fee of 1% of gross revenue every five years. The bill would also increase the legal fantasy sports wagering age from 18 to 21 and allow peer-to-peer pick鈥檈m fantasy sports contests . 

Operators seek end of DC mobile sports betting monopoly - As reported by , representatives from BetMGM, Caesars Sportsbook, DraftKings, and Fanatics Betting & Gaming gave testimony before the Washington, D.C., City Council鈥檚 Committee Business and Economic Development Committee seeking to add additional mobile sports betting operators to the current DC market. FanDuel, which recently took over the responsibilities of the company behind GamBetDC, is presently the sole mobile sportsbook operator for the district. 

States and casinos weigh indoor smoking policies - As reported by Casino.org, discussion continues around smoking in the casino environment. voted to reject a proposal to ban indoor smoking at the company's 15 casinos, shelved smoke-free casino legislation, and the tribal in Miami, Florida, plans to open a new dedicated smoking room. in Rhode Island adds second nonsmoking casino space. 

United States Department of the Interior (DOI) asks Supreme Court to dismiss challenge to Florida tribal gaming compact - As reported by , the DOI has asked the Supreme Court to dismiss a lawsuit that challenges the 2021 Class III gaming compact between the Seminole Tribe and Florida. West Flagler and Bonita-Fort Myers raised the lawsuit alleging the compact violates the Indian Gaming Regulatory Act (IGRA) because it allows the tribe to offer a mobile sports wagering platform that accepts wagers from any eligible player provided they are located within state borders - i.e. to conduct gambling operations outside of its sovereign property. The Seminole tribe and Florida government say the compact does not violate IGRA because the online sportsbook's servers remain on the tribe's land. DOI attorneys agree with this assessment. 

Hospitality & Tourism News

Brigantine hires new code enforcement personnel to help with rental property issues and maintenance complaints - As reported by , the city of Brigantine has announced the hiring of a new code enforcement supervisor and a part-time inspector to help with rental property issues and maintenance complaints. The hires are part of a plan to help enforce short-term rental rules.

Cape May, NJ hosts filming of movie about Bob Dylan - As reported by The Press of Atlantic City, Cape May stood in for 1965 Newport, Rhode Island, in filming for the Bob Dylan movie, "A Complete Unknown," starring Timothe茅 Chalamet. 

Memorial Day weekend brings unrest to shore downs - As reported by , Ocean City and Wildwood experienced 'problems with thousands of rowdy teens, including multiple reports of fights, vandalism, shoplifting and disruptive behavior' over the holiday weekend. In Ocean City and in Wildwood an led to the declaration of a state of emergency and shutdown of the boardwalk from 12:18 a.m. to 6 a.m. Monday. Further coverage from , , , and . 

National Restaurant Association predicts 525,000 jobs added for summer 2024 - According to the 鈥檚 annual Eating and Drinking Place Summer Employment Forecast, restaurant operators will add 525,000 jobs for the 2024 summer season. This is the first time on record that demand has reached this level two summers in a row.

Record number of airline travelers screened at U.S. airports ahead of Memorial Day weekend, AAA projects 43.8 million total travelers - As reported by according to the Transportations Security Agency (TSA) more than 2.9 million travelers were screened at US airports on the Friday of Memorial Day weekend, surpassing a previous record set last year on the Sunday after Thanksgiving. projected 43.8 million total travelers would head 50 miles or more from home over the Memorial Day holiday travel period (Thursday, May 23 to Monday, May 27, 2024). Further coverage by , , and . 


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