NJ sports betting, internet gaming pace September gaming report
“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 to become the second-best performing month so far this year,” said Jane Bokunewicz, faculty director of the Lloyd D. Levenson Institute of Gaming, Hospitality and Tourism (LIGHT), Stockton University School of Business, in her analysis of the September numbers released by the state Division of Gaming Enforcement Oct. 16.
Some toplines from the report include:
- Total gaming revenue was $481.9 million, an 11.8% increase from last September’s $430.9 million
- Total gaming revenue, including racetracks, was $521.5 million — a 7.5% increase over last September’s $484 million
- Casino win for the nine properties was $246.5 million, a 2.1% decrease versus last September’s $251.7 million
- Internet gaming win was $163.8 million, a 21.1% increase over last September’s $135.5 million
- The sports wagering handle was just under $1.3 billion with a gross revenue of $111.1 million, a 13.4% increase from last September’s $98 million
The top three performing operators in casino win were Borgata Hotel Casino & Spa, Hard Rock Hotel & Casino Atlantic City and Ocean Casino Resort.
“Atlantic City’s casino win for the month of September was negatively impacted by a widely reported cyber-attack, but it was still the third highest September result since 2012,” said New Jersey Casino Control Commission Chairman James Plousis in his remarks about the report. “Year-to-date casino win achieved its best result in 10 years.
“Atlantic City’s total gaming revenue increased nearly 12% aided by strong internet gaming and sports wagering – internet gaming win recorded its second-best month since inception and sports wagering revenue set a new monthly record,” Plousis added.
“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,” said Bokunewicz. “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.”
Bokunewicz also noted that the year-to-date total gross gaming revenue for the year (without racetracks) is at $3.93 billion, with an entire quarter remaining. That means operators may come close to hitting the $5 billion mark 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,” said Bokunewicz.
“The variety of Atlantic City’s in-person experiences coupled with its robust online offerings have proven to be a great mix that provides resilience and should increase confidence in its long-term potential as a top gaming and leisure destination,” Plousis added.
Four pillars
Tourism, education, medicine and aviation will help diversify Atlantic County’s economy and create more opportunities, according to Sen. Vince Polistina, R-2nd District, who was a panelist at the Greater Atlantic City Chamber’s recent Leadership Series: State of the Region event.
