April 2023
In LIGHT of the data.
While April 2023 fell just shy of April 2022 for brick-and-mortar gross gaming revenue (down 1.6%), it set a new near-term record for total April GGR for Atlantic City’s casino operators ($420.9 million in April 2023 compared to $386.8 million in April 2022).
At $1.62 billion, Atlantic City’s gaming operators broke last year’s near-term April year-to-date total GGR record of $1.46 billion and, in the first four months of 2023 (traditionally some of the slowest of the entire year), Atlantic City’s casino operators generated nearly half ($1.65 billion of $3.29 billion 2019 year-end) of the total GGR generated in the whole of 2019.
Strong gross gaming revenue (GGR) does not always translate into strong net revenue or gross operating profits (GOP). But in this instance, near-term record GGR in January, February and March resulted in a new high for first-quarter net revenue ($756.6 million) — surpassing the previous record ($723.2 million) from last year.
At $135 million, GOP for the period did not exceed first quarter 2022 ($159 million),
but easily outperformed 2021 ($95.5 million) and 2019 ($85.7 million).
If first-quarter, net-revenue performance gives us a first look at the upcoming tourism
season, then we should expect to see continued efforts from operators as they seek
to find their stride in managing the resurgence in consumer demand, the lingering
labor shortage and the higher cost of labor (due to last summer’s Local 54 contract
negotiation) — all of which are likely to impact the revenue/expense balance of the
industry in coming months.
Atlantic City Gaming Win & Total Casino Revenue
Source:
| Monthly Revenue (Casino Licensees, $ In Thousands |
April 2023 |
% Change from Prior Year | April 2022 | YTD
April 2023 |
% Change from Prior Year | YTD April 2022 |
|---|---|---|---|---|---|---|
| Total Gaming Win (includes Internet & Sports Wagering) | $420,924 | 8.8% | $386,757 | $1,624,850 | 10.8% | $1,466,489 |
| Sports Wagering Revenue | $30,513 | 109.2% | $14,583 | $117,976 | 61.3% | $73,163 |
| Internet Gaming Win | $158,937 | 16.1% | $136,883 | $620,108 | 13.7% | $545,364 |
| Casino Gaming Win | $231,474 | -1.6% | $235,290 | $886,766 | 4.6% | $847,962 |
| Quarterly Revenue (Industry, $ In Thousands)** | Q1 2023 | % Change from Prior Year | Q1 2022 | YTD March 31, 2023 | % Change from Prior Year | YTD March 31, 2022 |
|---|---|---|---|---|---|---|
| Casino | $419,324 | -6.5% | $448.34 | $419,324 | -6.5% | $448.34 |
| Rooms | $139,649 | 17.0% | $119.40 | $139,649 | 17.0% | $119.40 |
| Food & Beverage | $129,135 | 24.5% | $103.71 | $129,135 | 24.5% | $103.71 |
| Entertainment & Other | $68,530 | 32.5% | $51.73 | $68,530 | 32.5% | $51.73 |
| Casino Licensees Total Revenue | $756,638 | 4.6% | $723.18 | $756,638 | 4.6% | $723.18 |
| Gross Operating Profit (GOP) | $135,436 | -14.8% | $159.02 | $135,436 | -14.8% | $159.02 |
** Data agregated from New Jersey Division of Gaming Enforcement for individual properties, includes amended totals as of April 13, 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, 2023 & 2022 |
Q1 2023 | Q1 2022 | YTD 2023 | YTD 2022 |
|---|---|---|---|---|
| Occupancy percentage | 65.18% | 63.05% | 65.18% | 63.05% |
| Average Daily Room Rate (ADR) | $156.52 | $152.20 | $156.52 | $152.20 |
| Revenue Per Available Room (RevPAR)* | $102.02 | $95.96 | $102.02 | $95.96 |
* RevPAR= ADR X Occupancy Percentage
Atlantic City Statistical Transportation Data
Source:
| Travel Mode | March 2023 |
Change from Prior Year |
March 2022 |
YTD March 2023 |
Change from Prior Year |
YTD March 2022 |
|---|---|---|---|---|---|---|
| AC Expressway | ||||||
| Total Toll-Paying Traffic Pleasantville Toll Plaza |
1,408,432 | 4.0% | 1,354,835 | 3,835,207 | 6.4% | 3,604,463 |
| AC Airport | ||||||
| Scheduled Service Passengers | 69,408 | -5.0% | 73,019 | 185,010 | -3.8% | 192,343 |
| Charter Passengers | 10,280 | 0.2% | 10,256 | 23,900 | -0.6% | 24,033 |
| Total Air Passengers | 79,688 | -4.3% | 83,275 | 208,910 | -3.5% | 216,376 |
Atlantic City Meetings and Conventions Data
Source:
| April '23 | April '22 | % Change from Prior Year |
TOTAL 2023 YTD |
TOTAL 2022 YTD |
% Change from Prior Year |
|
|---|---|---|---|---|---|---|
| Conventions/Tradeshows/Meetings* | ||||||
| # of Shows | 6 | 9 | -33% | 31 | 27 | 15% |
| # of Room Nights | 7,938 | 10,322 | -23% | 46,618 | 40,844 | 14% |
| # of Delegates | 29,079 | 29,347 | -1% | 263,676 | 203,713 | 29% |
| Delegate Spending | $7,500,589 | $7,504,233 | 0% | $57,383,637 | $40,064,786 | 43% |
| Boardwalk Hall Bookings | ||||||
| # of Shows | 2 | 2 | 0% | 12 | 9 | 33% |
| # of Attendees | 8,983 | 10,268 | -13% | 65,827 | 55,149 | 19% |
| Hotel Bookings | ||||||
| # of Shows | 14 | 12 | 17% | 38 | 36 | 6% |
| # of Room Nights | 5,612 | 4,428 | 27% | 25,675 | 30,271 | -15% |
| # of Attendees** | 6,848 | 10,420 | -34% | 27,617 | 47,523 | -42% |
| Delegate Spending | $3,201,881 | $3,743,569 | -14% | $15,883,973 | $21,443,060 | -26% |
| Monthly Totals | ||||||
| # Convs_Trade_Mtgs / Boardwalk Hall / Hotel | 22 | 23 | -4% | 81 | 72 | 13% |
| # of Room Nights | 13,550 | 14,750 | -8% | 72,293 | 71,115 | 2% |