January 2024
In LIGHT of the data.
Despite harsher weather than 2023, January 2024 returned a greater than 15% increase in total gaming revenue for Atlantic City's casino operators. The majority of this gain came from off-site operations with both internet gaming and sports betting turning in record single-month returns. Seasonal weather typically impacts the industry and that contributed in January 2024 to brick-and-mortar returns that were 3% less than 2023 when the weather was milder.
It’s likely brick-and-mortar activity was diverted to online channels boosting the internet gaming and online sports betting totals. The return of fairer weather will likely lead to better year-over-year gains for Atlantic City's brick-and-mortar casino operations.
Atlantic City Gaming Win & Total Casino Revenue
Source: N.J. Division of Gaming Enforcement
| Monthly Revenue (Casino Licensees, $ In Thousands |
January 2024 |
% Change from Prior Year | January 2023 | YTD
January 2024 |
% Change from Prior Year | YTD January 2023 |
|---|---|---|---|---|---|---|
| Casino Gaming Win | 205,044 | -3.1% | 211,675 | 205,044 | -3.1% | 211,675 |
| Internet Gaming Win | 183,281 | 19.9% | 152,867 | 183,281 | 19.9% | 152,867 |
| Sports Wagering Revenue | 56,412 | 170.9% | 20,823 | 56,412 | 170.9% | 20,823 |
| Total Gaming Win (includes Internet & Sports Wagering) | 444,738 | 15.4% | 385,365 | 444,738 | 15.4% | 385,365 |
| Quarterly Revenue (Industry, $ In Thousands)** | Q3 2023 | % Change from Prior Year | Q3 2022 | YTD September 30, 2023 | % Change from Prior Year | YTD September 30, 2022 |
|---|---|---|---|---|---|---|
| Casino | 433,501 | -7.6% | 469,191 | 1,272,122 | -7.3% | 1,372,068 |
| Rooms | 263,111 | 0.5% | 261,869 | 582,394 | 5.1% | 554,210 |
| Food & Beverage | 169,137 | 5.3% | 160,595 | 439,242 | 10.9% | 396,066 |
| Entertainment & Other | 106,032 | 19.8% | 88,486 | 253,621 | 20.9% | 209,760 |
| Casino Licensees Total Revenue | 971,781 | -0.9% | 980,141 | 2,547,378 | 0.6% | 2,532,104 |
| Gross Operating Profit (GOP) | 281,213 | -7.5% | 304,070 | 632,127 | -4.2% | 660,140 |
** Data agregated from New Jersey Division of Gaming Enforcement Quarterly Financial Reports for individual properties, includes amended totals as of August 22, 2023. May not match totals from Quarterly Press Releases and Statistical Summaries, which represent a 'snapshot' of data at the time of publication and are not retroactively updated.
Atlantic City Hotel Lodging
Source: N.J. Division of Gaming Enforcement
| Casino Hotel Lodging Statistics For the Period Ended September 30, 2023 & 2022 |
Q3 2023 | Q3 2022 | YTD 2023 | YTD 2022 |
|---|---|---|---|---|
| Occupancy percentage | 85.6% | 86.7% | 75.2% | 76.2% |
| Average Daily Room Rate (ADR) | $217.74 | $216.55 | $185.61 | $184.71 |
| Revenue Per Available Room (RevPAR)* | $186.38 | $187.75 | $139.58 | $140.75 |
* RevPAR= ADR X Occupancy Percentage
Atlantic City Casino Operator Taxes & Fees
Source: N.J. Division of Gaming Enforcement
Total Paid Taxes & Fees |
$211,573,000 | $178,606,000 | 18.5% | |||
|---|---|---|---|---|---|---|
Taxes & Fees |
Q3 2023 | Q3 2022 | % | |||
|
Casino Gaming Gross Revenue Tax |
$51,364,000 | $53,579,000 | -4.3% | |||
|
Internet Gaming Gross Revenue Tax |
$70,998,000 | $60,505,000 | 17.3% | |||
|
Sports Wagering - Retail Gross Revenue Tax (includes racetracks) |
$763,000 | $301,000 | 153.5% | |||
|
Sports Wagering - Internet Gross Revenue Tax (includes racetracks) |
$33,546,000 | $10,959,000 | 206.1% | |||
| Investment Alternative Tax/CRDA Obligations | $22,043,000 | $20,392,000 | 8.1% | |||
| 1.25% Additional Tax | $2,131,000 | $1,113,000 | 91.5% | |||
| 1.25% EDT | $1,223,000 | $1,492,000 | -18.0% | |||
| Luxury Tax | $15,724,000 | $16,055,000 | -2.1% | |||
| Tourism Promotion Fee | $2,559,000 | $2,599,000 | -1.54% | |||
| Hotel Room Fee | $3,625,000 | $3,628,000 | -0.1% | |||
| Hotel Room Surcharge | $2,418,000 | $2,414,000 | 0.2% | |||
| Parking Fees | $5,179,000 | $5,569,000 | -7% | |||
Atlantic City Casino Operator Spending
Source: Casino Association of New Jersey - Member Reported
| Total | 183,102 | 183,251 | -0.08% | ||
|---|---|---|---|---|---|
Purchase of Goods and Services From New Jersey Vendors(By County) |
Q2 2023 | Q2 2022 | % | ||
| Atlantic | $129,091,000 | $140,881,000 | -8.37% | ||
| Bergen | $3,808,000 | $2,582,000 | 47.47% | ||
| Burlington | $5,057,000 | $4,238,000 | 19.30% | ||
| Camden | $6,243,000 | $5,336,000 | 16.98% | ||
| Cape May | $2,834,000 | $2,151,000 | 31.76% | ||
| Cumberland | $6,628,000 | $5,483,000 | 20.88% | ||
| Essex | $5,005,000 | $7,537,000 | -33.59% | ||
| Gloucester | $2,269,000 | $2,456,000 | -7.60% | ||
| Hudson | $800,000 | $669,000 | 19.60% | ||
| Hunterdon | $32,000 | $45,000 | -29.03% | ||
| Mercer | $678,000 | $8,582,000 | -92.10% | ||
| Middlesex | $3,422,000 | $3,337,000 | 2.55% | ||
| Monmouth | $3,195,000 | $2,894,000 | 10.39% | ||
| Morris | $1,285,000 | $1,017,000 | 26.36% | ||
| Ocean | $1,413,000 | $532,000 | 165.62% | ||
| Passaic | $777,000 | $871,000 | -10.79% | ||
| Salem | $81,000 | $12,000 | 580.82% | ||
| Somerset | $2,132,000 | $2,370,000 | -10.07% | ||
| Sussex | $10,000 | $8,000 | 27.92% | ||
| Union | $7,258,000 | $7,325,000 | -0.92% | ||
| Warren | $1,000 | $1,000 | 94.30% | ||
Other Spending |
Q2 2023 | Q2 2022 | % | |||
|---|---|---|---|---|---|---|
| Capital Expenditures | $82,333,000 | $109,136,000 | -25% | |||
| PILOT Contributions (Includes PILOT & additional payments under PILOT legislation) | $29,126,000 | $28,946,000 | 1% | |||
| CRDA Special Improvement District | $314,000 | $249,000 | 26% | |||
| Municipal/Atlantic City Fees- Water | $1,207,000 | $1,122,000 | 8% | |||
| Municipal/Atlantic City Fees- Sewer | $3,963,000 | $2,322,000 | 71% | |||
|
Municipal/Atlantic City Fees- Other (permits, boardwalk seating, mercantile etc.) |
$1,229,000 | $392,000 | 214% | |||
| Charitable Contributions | $333,000 | $272,000 | 22% | |||
Total Spending |
$301,606,000 | $325,689,000 | -7% |
|---|
Atlantic City Statistical Transportation Data
Source: South Jersey Transportation Authority
| Travel Mode | December 2023 |
Change from Prior Year |
December 2022 |
YTD December 2023 |
Change from Prior Year |
YTD December 2022 |
|---|---|---|---|---|---|---|
| AC Expressway | ||||||
| Total Toll-Paying Traffic Pleasantville Toll Plaza |
1,296,053 | 2.3% | 1,266,808 | 17,840,652 | 3.2% | 17,296,280 |
| AC Airport | ||||||
| Scheduled Service Passengers | 75,818 | 22.5% | 61,894 | 799,394 | -5.0% | 841,464 |
| Charter Passengers | 4,379 | 70.1% | 2,575 | 126,718 | 10.7% | 114,483 |
| Total Air Passengers | 80,197 | 24.4% | 64,469 | 926,112 | -3.1% | 955,947 |
Atlantic City Meetings and Conventions Data
Source: VistAC
| January '24 | January '23 | % Change from Prior Year |
TOTAL 2024 YTD |
TOTAL 2023 YTD |
% Change from Prior Year |
|
|---|---|---|---|---|---|---|
| Conventions/Tradeshows/Meetings* | ||||||
| # of Shows | 8 | 6 | 33% | 8 | 6 | 33% |
| # of Room Nights | 19,956 | 18,156 | 10% | 19,956 | 18,156 | 10% |
| # of Delegates | 46,279 | 64,367 | -28% | 46,279 | 64,367 | -28% |
| Delegate Spending | $17,046,132 | $16,741,927 | 2% | $17,046,132 | $16,741,927 | 2% |
| Boardwalk Hall Bookings | ||||||
| # of Shows | 1 | 4 | -75% | 1 | 4 | -75% |
| # of Attendees | 5,860 | 10,044 | -42% | 5,860 | 10,044 | -42% |
| Hotel Bookings | ||||||
| # of Shows | 10 | 6 | 67% | 10 | 6 | 67% |
| # of Room Nights | 8,077 | 3,697 | 118% | 8,077 | 3,697 | 118% |
| # of Attendees** | 8,784 | 1,646 | 434% | 8,784 | 1,646 | 434% |
| Delegate Spending+ | $5,087,121 | $1,936,582 | 163% | $5,087,121 | $1,936,582 | 163% |
| Monthly Totals | ||||||
| # Convs_Trade_Mtgs / Boardwalk Hall / Hotel | 19 | 16 | 19% | 19 | 16 | 19% |
| # of Room Nights | 28,033 | 21,853 | 28% | 28,033 | 21,853 | 28% |
| # of Attendees | 60,923 | 76,057 | -20% | 60,923 | 76,057 | -20% |
| Delegate Spending | $22,133,253 | $18,678,509 | 18% | $22,133,253 | $18,678,509 | 18% |
*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
Atlantic City Information
Atlantic City CitiStat meetings to be held once per month - As reported by The Press of Atlantic City, Business Administrator Anthony Swan announced that future CitiStat meetings will be held once per month in the evenings. Swan cited decreased in-person attendance from the public as the reason for discontinuing the bi-monthly meeting schedule, and hoped a once-monthly meeting would boost attendance.
Atlantic City Mayor gives State of the City address, announces new projects and completion of ongoing projects - As reported by The Press of Atlantic City, Atlantic City Mayor Marty Small Sr., gave his State of the City address on Feb. 2. The city faces a number of challenges and opportunities heading into 2024. Mayor Small told the audience that progress was being made on a $3.7 million federal grant to add 30 more police officers, including 10 that would be assigned to city schools, 10 that would be assigned to walking the beat on Pacific and Atlantic avenues and 10 that would be assigned to a motorcycle unit. Pop Lloyd Stadium on Martin Luther King Jr. Boulevard will be renovated as a hub for youth sports, and the Atlantic City Aquarium, shuttered since March 2020, will reopen July 1 following renovations financed by American Rescue Plan Funds. There was no announcement regarding development of Bader Field, however the Mayor said he hoped to announce a redevelopment agreement with DEEM Enterprises since the company has lined up financing. The Mayor also announced that the city would get citywide Wi-Fi capability in 2024, the courtyard between City Hall and the city’s public library and Atlantic County office building will be renovated and named in honor of former DCA Commissioner and Lt. Gov. Sheila Oliver, who died last year, a dog park will be opened in the Inlet and work to strengthen the Boardwalk from Bellevue to Missouri avenues (financed by a $6 million federal grant) will soon begin. Also speaking at the event, Department of Community Affairs (DCA) Commissioner Jacqueline Suarez noted that in the last seven years $255.2 million in debt service has been paid down and the city has maintained a solid fund balance while lowering property taxes. She said that the DCA continues to build capacity of city government to function efficiently, and indicated that the DCA was close to announcing homeless support plans for the city.
In the wake of deaths, Atlantic County Prosecutor calls for a collaborative effort to address public safety issues, independent study of police staffing levels - As reported by The Press of Atlantic City on Jan. 12, after four killings took place in the city during the first week of the year, Atlantic County Prosecutor Will Reynolds called on city entities to work to collaborate on public safety issues. As of Jan. 26, with city officials at an impasse over police staffing, Reynolds called for the commissioning of an independent study on the issue. A fifth death occured on Jan. 20. For the past three years, the annual number of homicides in the city had gone down, from 13 in 2021 to seven in 2022 and 2023. A Peace Walk was held in the city on Jan. 13.
Judge will not temporarily stop "Road Diet" ahead of trial - As reported by The Press of Atlantic City on Jan. 26, Judge Michael Blee ruled that there would be no irreparable harm if Phase II of the "road diet" was completed while the overall case brought by AtlantiCare and five of the city's casinos in December goes to trial beginning in February. Opponents to the project argue the “road diet” will cause traffic congestion and prevent emergency vehicles from getting to AtlantiCare’s emergency department as quickly as possible. The city says federal transportation agencies, state agencies and the city’s professional staff have all concluded that the road diet will not hinder emergency vehicles on Atlantic Avenue and will improve traffic flow. Phase I of the project (from Maine Avenue in the Inlet to Tennessee Avenue in midtown) is already complete. Phase II is set to begin after the Summer 2024 season and to be completed by Spring 2025 at the latest.
Pharmaceutical grade air cargo facility at Atlantic City International Airport among plans announced for Atlantic County economic development - As reported by The Press of Atlantic City, the Atlantic County Economic Alliance is working to bring new companies into the area in and around the Atlantic City International Airport. Projects include hotels, a youth sports facility and a cargo operation.
Repairs to fire-damaged Boardwalk begin - As reported by The Press of Atlantic City, repairs to the section of Boardwalk damaged by a Nov. 15 fire in front of Resorts Casino Hotel have begun. Costs for Boardwalk repairs will be covered by insurance.
New Jersey Gaming News
Bill to eliminate smoking ban exemption for casinos moves forward in state senate - According to records of the New Jersey State Legislature, Bill S1493/A2143 was introduced to the state Senate and Assembly on Jan. 9 and referred to the Senate Health, Human Services and Senior Citizens Committee and the Assembly Tourism, Gaming and the Arts Committee. The Senate committee approved the bill on Jan. 29, the first of several necessary approvals on a bill that was initially introduced four years ago. Further reporting by The Press of Atlantic City and Philadelphia Inquirer.
Judge rules casinos have no legal obligation to stop compulsive gamblers from betting - As reported by the Associated Press, on Jan. 31, a judge dismissed a lawsuit brought by a self-described problem gambler who accused Borgata and parent company MGM Resorts International of sending him offers to gamble despite knowing about his adiction. The judge ruled that the rules and regulations governing gambling in New Jersey do not impose a legal duty on casinos to cut off compulsive gamblers.
Stockton Atlantic City Summer Experience: Live-Work-Learn
National Gaming News
American Gaming Association estimates record number of American adults will wager on Super Bowl LVIII - According to a Feb. 6 news release, the American Gaming Association expects a record 67.8 million American adults will wager on the Super Bowl in some form, risking $23.1 billion on the gaming (up from $16 billion in 2023). Americans continue to migrate to the legal sports betting market with 28.7 million American adults planning to wager using legal U.S. sportsbooks.
Nevada Gaming Control Board website hacked - As reported by Casino.org, on Jan. 26, the Nevada Gaming Control Board (NCGB) confirmed that their website had been hacked. No personal information or financial records were believed to be stolen.
New York casino licenses could be awarded in 2025 - As reported by Casino.org, New York Governor Kathy Hochul's budget for the state, which runs through March 31, 2025, does not include revenue from casino licensing fees. The exclusion of the fees, which could be $500 million to $1 billion per licensee, suggests that the casino permits will not be awarded prior to first quarter 2025.
New York online sports betting generated $862 million in tax revenue for the state; state ranks third for overall gambling handle - As reported by Play USA, in their second year of operation, New York's online sportsbooks generated $862 million in tax revenue for the state. New York state ranks third overall in total gaming handle ($35.7 billion) behind New Jersey ($44.2 billion handle) and Nevada ($35.7 billion in handle) for 2023.
Ohio bettors wager $7.6 billion in first year of legal sportsbooks - As reported by the Dayton Daily News, gamblers in Ohio wagered more than $7.6 billion with online and retail sportsbooks in 2023 resulting in $936.9 million in gross gaming revenue and $133.1 million in tax revenue. The 32nd state to authorize sportsbetting, based on handle, Ohio was the sixth largest sports betting market in 2023. In addition to retail and online sportsbooks, Ohio allows sports betting via kiosks at bars, restaurants, bowling alleys, grocery stores and other establishments. Casino.org reports that the Kroger grocery store chain has installed betting kiosks at 20 locations in the greater Cincinnati and Dayton areas.The self-service sports betting machines are operated by UBet Ohio.
Pennsylvania Gaming Control Board (PGCB) reports record gaming revenue in 2023 - According to a Jan. 18 news release from PGCB, Pennsylvania casinos, fueled by a nearly 28% in iGaming revenue, reported record total gaming revenue in 2023 of $5.7 billion, a 9.3% increase over 2022. The state also generated record gaming tax revenue of $2.3 billion. Further reporting by Casino.org and Play USA.
Hospitality & Tourism News
Cape May-Lewes Ferry reports increase in ridership, highest since 2010 - As reported by The Press of Atlantic City. the Delaware River and Bay Authority (DRBA), operators of the ferry, the Delaware Memorial Bridge and the Cape May and Wilmington airports, announced that in 2023 ridership was up 2% over pre-pandemic 2019 and was the highest since 2010. Fare revenue also increased as did other revenues (vessel, and food and retail).
Indoor Sports Complex planned for Cape May Airport - As reported by The Press of Atlantic City, the DRBA has agreed to lease land for the construction of an 80,000 square-foot indoor sports complex at the Cape May Airport in Lower Township. The project, opperated by Aviation Sports Complex LLC, is set to break ground in Spring 2024. The airport has been a hub for economic development in the area for several years.
New Jersey liquor license reform - As reported by The Press of Atlantic City,New Jersey Business Magazine, NJ 101.5 and NJ.com, on Jan. 16, New Jersey Gov. Phil Murphy signed legislation overhauling the state's liquor license laws for the first time in nearly a century. The new laws ease restrictions on breweries and distilleries and among other things allow breweries more freedom to hold events and partner with food vendors. The new laws also address inactive or "pocket" licenses by requiring license holders to use or sell licenses within a period of two consecutive license terms – a total of two years. In instances where an inactive consumption license has lapsed and not been renewed for the last eight years, municipalities may issue a new consumption license at public sale for use at a licensed premises located within the town. This could result in as many as 1,356 licenses going back on the market, a 15% increase over the 8,905 currently active licenses.
Ocean Casino Resort Valets organize - As reported by The Press of Atlantic City, the 52 valets at Ocean Casino Resort have voted to join Teamsters Local 331. They join more than 5,000 casino workers nationwide represented by the Teamsters.
Showboat Resort Atlantic City names new general manager- As reported by The Press of Atlantic City, Anthony Faranca has been named as the new general manager of Showboat Resort Atlantic City.
LIGHT Snapshots is a publication of the Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism, Stockton University School of Business
Jane Bokunewicz, Ph. D., Faculty Director and Associate Professor of Hospitality
