September 2023 Snapshots
In LIGHT of the data.
According to data from the state Division of Gaming Enforcement, September 2023 total gross gaming revenue for Atlantic City’s casino operators has not only exceeded every September since at least 2011, but also surpassed July 2023 ($477 million) to become the second-best performing month so far this year.
Operators statewide are finding success in offering their patrons the gaming products they seem to be looking for. Total sports wagering handle for the month was just shy of $1.3 billion — outpacing September 2022 at $867 million. This handle resulted in a 13.4% year-over-year increase in statewide sports wagering revenue, and a near doubling in sports wagering revenue generated by Atlantic City’s casino operators. Revenue from internet gaming reached near record heights for single month returns. At $163.7 million, September 2023 fell just shy of the record $165.7 million generated in March 2023. While brick-and-mortar revenues were down slightly for the month, they exceeded September year to date 2022 and pre-pandemic 2019, indicating the full integrated casino experience is still a popular choice among gamblers.
Sports wagering and internet gaming have extended the reach of Atlantic City’s gaming operators providing a steady stream of revenue that appears mostly immune from seasonality and poor weather — both of which have been known to impact the brick-and-mortar gaming business. With several sports seasons well underway and the Philadelphia Phillies on an extended run in the Major League Baseball playoffs, New Jersey sportsbooks should continue to be quite busy.
At $3.93 billion, with an entire quarter remaining, total gross gaming revenues for Atlantic City’s casino operators may come close to $5 billion for the year — a feat last accomplished in 2005 and 2006. While market conditions have changed considerably since that time, and revenue streams have evolved with shifts in consumer interests, this would still seem an important milestone, especially ahead of anticipated market headwinds.
Atlantic City Gaming Win & Total Casino Revenue
Source:
| Monthly Revenue (Casino Licensees, $ In Thousands |
September 2023 |
% Change from Prior Year | September 2022 | YTD
September 2023 |
% Change from Prior Year | YTD September 2022 |
|---|---|---|---|---|---|---|
| Total Gaming Win (includes Internet & Sports Wagering) | 481,950 | 11.8% | 430,978 | 3,936,172 | 10.8% | 3,551,464 |
| Sports Wagering Revenue | 71,642 | 62.8% | 43,995 | 358,675 | 80.5% | 198,726 |
| Internet Gaming Win | 163,790 | 21.1% | 135,245 | 1,405,043 | 15.4% | 1,217,904 |
| Casino Gaming Win | 246,518 | -2.1% | 251,738 | 2,172,453 | 1.8% | 2,134,833 |
| Quarterly Revenue (Industry, $ In Thousands)** | Q2 2023 | % Change from Prior Year | Q2 2022 | YTD June 30, 2023 | % Change from Prior Year | YTD June 30, 2022 |
|---|---|---|---|---|---|---|
| Casino | 419,297 | -7.8% | 454,541 | 838,621 | -7.1% | 902,877 |
| Rooms | 179,634 | 3.9% | 172,942 | 319,283 | 9.2% | 292,341 |
| Food & Beverage | 140,970 | 7.0% | 131,757 | 270,105 | 14.7% | 235,471 |
| Entertainment & Other | 79,059 | 13.7% | 69,545 | 147,589 | 21.7% | 121,274 |
| Casino Licensees Total Revenue | 818,961 | -1.2% | 828,785 | 1,575,598 | 1.5% | 1,551,963 |
| Gross Operating Profit (GOP) | 145,996 | -20.5% | 183,629 | 281,432 | -17.9% | 342,647 |
** 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 June 30, 2023 & 2022 |
Q2 2023 | Q2 2022 | YTD 2023 | YTD 2022 |
|---|---|---|---|---|
| Occupancy percentage | 74.4% | 77.4% | 69.8% | 70.39% |
| Average Daily Room Rate (ADR) | $173.22 | $171.79 | $165.50 | $163.21 |
| Revenue Per Available Room (RevPAR)* | $128.86 | $132.99 | $115.56 | $114.89 |
* RevPAR= ADR X Occupancy Percentage
Atlantic City Statistical Transportation Data
Source:
| Travel Mode | August 2023 |
Change from Prior Year |
August 2022 |
YTD August 2023 |
Change from Prior Year |
YTD August |
|---|---|---|---|---|---|---|
| AC Expressway | ||||||
| Total Toll-Paying Traffic Pleasantville Toll Plaza |
1,931,475 | 5.3% | 1,834,159 | 12,230,514 | 4.2% | 11,738,992 |
| AC Airport | ||||||
| Scheduled Service Passengers | 71,268 | -24.9% | 94,937 | 516,342 | -13.5% | 596,914 |
| Charter Passengers | 13,410 | 42.5% | 9,411 | 91,642 | 16.9% | 78,397 |
| Total Air Passengers | 84,678 | -18.9% | 104,348 | 607,984 | -10.0% | 675,311 |
Atlantic City Meetings and Conventions Data
Source:
| September '23 | September '22 | % Change from Prior Year |
TOTAL 2023 YTD |
TOTAL 2022 YTD |
% Change from Prior Year |
|
|---|---|---|---|---|---|---|
| Conventions/Tradeshows/Meetings* | ||||||
| # of Shows | 7 | 7 | 0% | 61 | 63 | -3% |
| # of Room Nights | 3,575 | 13,285 | -73% | 79,320 | 94,321 | -16% |
| # of Delegates | 8,755 | 16,326 | -46% | 404,835 | 381,355 | 6% |
| Delegate Spending | $4,413,013 | $9,909,837 | -55% | $92,143,390 | $87,566,553 | 5% |
| Boardwalk Hall Bookings | ||||||
| # of Shows | 3 | 1 | 200% | 30 | 28 | 7% |
| # of Attendees | 14,647 | 2,800 | 423% | 147,020 | 120,732 | 22% |
| Hotel Bookings | ||||||
| # of Shows | 16 | 18 | -11% | 91 | 115 | -21% |
| # of Room Nights | 11,487 | 14,082 | -18% | 69,304 | 90,369 | -23% |
| # of Attendees** | 14,050 | 9,055 | 55% | 101,532 | 149,329 | -32% |
| Delegate Spending+ | $7,361,765 | $7,380,846 | 0% | $44,497,598 | $57,638,469 | -23% |
| Monthly Totals | ||||||
| # Convs_Trade_Mtgs / Boardwalk Hall / Hotel | 26 | 26 | 0% | 182 | 206 | -12% |
| # of Room Nights | 15,062 | 27,367 | -45% | 148,624 | 184,690 | -20% |
| # of Attendees | 37,452 | 28,181 | 33% | 653,387 | 651,416 | 0% |
| Delegate Spending | $11,774,778 | $17,290,683 | -32% | $136,640,988 | $145,205,022 | -6% |
Notes:
*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
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 City Housing Authority votes to fire Executive Director - As reported by , at a special meeting on September 7, the Atlantic City Housing Authority Board voted to fire Executive Director Matt Doherty "for convenience." Doherty has served as Executive Director of the Authority .
Atlantic County introduces bond ordinance for second aviation park building - As reported by , on September 5, The Atlantic County Board of Commissioners introduced a bond ordinance which would fund the second building at the National Aerospace Research and Technology Park in Egg Harbor Township. The bond ordinance appropriates $2.5 million to cover design and construction of the building at the county-built facility, and issues $2.38 million in bonds to finance it. The county will provide the $120,000 difference in cash. The building would be built in a partnership with the Atlantic County Improvement Authority who would obtain the additional funding to reach the estimated $18.5 million needed to complete the project. The ordinance was set to have a public hearing and final vote at the September 19 meeting of the commissioners. The county hopes to begin constuction of the building in December 2023.
Casino Reinvestment Development Authority (CRDA) rejects grocery store proposals - As reported by , at a September 19 board meeting, the CRDA rejected all four proposals presented for the construction of a full-service grocery store in the city. While the plan to bring a grocery store to the city - and end its status as a 'food desert' - are not dead, the board did not, at the time of the meeting, announce next steps for moving the plan forward. The were from Save-A-Lot under the company name Save Philly Stores, Village Super Market (A new proposal as their ), JAS Group Enterprise and Bailing International Firm.
"Orange Loop" projects credited with reviving Atlantic City neighborhood - As reported by , the work of local developers, begun in 2015, has succeeded in turning around the "Orange Loop" neighborhood comprised of South New York Avenue, St. James Place and South Tennessee Avenue.
New Jersey Gaming News
Casino Control Commission officially closes Playboy casino chip fund - As reported by , on September 13 the Casino Control Commission officially approved the closing of an $875,000 account dedicated to the cashing in of chips from the former Playboy Hotel and Casino. The money will remain with the Unclaimed Property Administrator until legislation is passed to direct the money into another program or fund.
Casino Revenue Fund collects record revenue from casino taxes and fees - As reported by , in 2022 Atlantic City casino operators paid over $504 million in taxes and fees into the Casino Revenue Fund. This represents a new record in single year revenue generation for the fund which was established in 1976 to channel a share of revenues derived from casino gaming into programs benefiting New Jersey's most vulnerable residents. The Casino Revenue Fund finances a variety of projects including perscription drug subsidies, housing assistance and transportation.
Points Bet fined for violations - As reported by , online sports betting company, PointsBet was fined a total $25,000 for three different types of violations of New Jersey sports betting laws.
Rutgers Report on prevalence of gambling finds slight decline in high-risk problem gambling, still three times the national rate - According to a prepared for the New Jersey Division of Gaming Enforcement by 61% of the 3,512 New Jersey residents interviewed in 2021 reported gambling in the past year. this represented a decline from the 70% of residents who reported gambling when interviewed for the released in 2017. The researchers attributed this decline in part to the COVID-19 shutdowns of 2020. At 5.6% the overall rate of high-risk problem gambling for the state declined slightly from the previous study (6.3%), but was still roughly three times the national rate. Further reporting from the and .
ÒùÐÔÊÓƵ Atlantic City Summer Experience: Live-Work-Learn
National Gaming News
Kentucky Launches retail and online sportsbooks - As reported by and , Kentucky launched legal sports betting in person on September 7 and online September 28. In the first two weeks of operating only in person, the state generated $4.5 million in wagers.
MGM, Caesars Entertainment report cyber attacks - As reported by , MGM Resorts and Caesars International experienced cyberattacks on September 7 and September 10 respectively. On September 11, MGM announced that a 'cybersecurity issue' detected on September 10 led the company to shut down computer systems at its properties across the U.S. to protect data. Later that same week, on September 14, Caesars Entertainment announced that it too had been hit by a cyber attack - computer systems at Caesars properties were not disrupted by the attack. The attacks are being un officially attributed to a group called Scattered Spider which used SMS text phishing and phone calls to help desks to gain access to the systems. As of , MGM's computer systems were reported back online. Read and reports to the SEC. Further reporting and updates from , and .
Hospitality & Tourism News
Atlantic City to keep open container rules for Tourism District - As reported by , on September 12, the Casino Reinvestment Development Authority Board unanimously approved a resolution reaffirming a 2020 vote allowing licensed bars and restaurants to sell to-go drinks in plastic cups.
Cape may County Zoo receives national re-accredidation- As reported by , the Cape May County Zoo annouced that it has been nationally re-accredited by two major zoo accrediting bodies, the Association of Zoos & Aquariums and the Zoological Association of America - a rare feat in the country. The zoo is one of the top ranked zoos in the country, bringing in more than 620,000 visitors annually. The zoo was last accredited by both bodies in 2018.
Former Playground Pier in Atlantic City to become movie studio - As reported by , the 550,000-square-foot glass building connected to Caesars Atlantic City via a second-story skybridge is slated to become a live entertainment and production facility called ACX1 Studios. Developers will turn vacant storefronts on the former Playground Pier into over 150 television and media production sets. Additional creative spaces, like a music or art studio, rehearsal spaces and teaching spaces are planned for the use of the community. Tennants like It’s Sugar candy shop will remain and new businesses will open including the Laff House comedy club, an ACX1 brewery and a Barcade type of attraction.
ÒùÐÔÊÓƵ Poll finds increased opposition to offshore wind - As reported by ÒùÐÔÊÓƵ and , continued polling by The William J. Hughes Center for Public Policy at ÒùÐÔÊÓƵ has found a 30% drop in support for offshore wind projects by New Jersey residents. When polled in September 2019, 80% of residents supported the installation of wind turbines off the coast of New Jersey. Four years later when polled in September 2023, only 50% of residents said they supported the effort.
