August 2024
In LIGHT of the data.
At first glance the nearly 46% year-over-year decline in August 2024 revenue for Atlantic
City’s sports books is shocking, however, despite a lower handle ($698 million compared
to last August’s $735 million), the difference is largely attributable to an exceptionally
strong performance in August 2023. August 2023 sports betting revenue for Atlantic
City operators, at $66.7 million, more than doubled revenue from August 2022 ($27.5
million). The sports wagering industry continues an overall positive trend for Atlantic
City operators and their racetrack counterparts.
With an extra Saturday compared to August 2023, August 2024 brick-and-mortar revenues were solid with a nearly 5% year-over-year increase. At $294 million brick-and-mortar revenue August 2024 is the highest grossing single month since July 2022 ($299 million). Despite concerns that the lack of beach concerts and the cancellation of the Atlantic City Airshow would impact the industry we have yet to see it reflected in benchmarking data from the resort. We look forward to seeing the South Jersey Transportation Authority’s Monthly Statistical Summary for August 2024 (Atlantic City Expressway Toll Plaza vehicle counts) and the Division of Gaming Enforcement’s third quarter 2024 report (which will include lodging and non-gaming revenue data), as these will give a more complete picture of the impact.
Internet gaming revenue for August 2024 ($198.4 million) beat out March 2024 ($197.2 million) to set a new record for single-month internet casino revenue. This important vertical for the casino industry has topped $190 million in four of the last eight months in a trend that is seeing off-property gaming activity (which includes online sports betting) contribute nearly half of Atlantic City operators’ total gross gaming revenue. Year-to-date, online revenues (casino and sports) have represented 48.5% of total gross gaming revenue.
Year-to-date Atlantic City is on course for another record year of total gross gaming
revenue even as brick-and-mortar revenues appear to hold flat compared to last year.
Atlantic City Gaming Win & Total Casino Revenue
Source:
| Monthly Revenue (Casino Licensees, $ In Thousands |
August 2024 |
% Change from Prior Year | August 2023 | YTD
2024 |
% Change from Prior Year | YTD 2023 |
|---|---|---|---|---|---|---|
| Casino Gaming Win | 294,040 | 4.9% | 280,286 | 1,922,475 | -0.2% | 1,925,936 |
| Internet Gaming Win | 198,378 | 27.8% | 155,274 | 1,523,384 | 22.7% | 1,241,253 |
| Sports Wagering Revenue | 36,084 | -45.9% | 66,708 | 293,705 | 2.3% | 287,033 |
| Total Gaming Win (includes Internet & Sports Wagering) | 528,502 | 5.2% | 502,268 | 3,739,564 | 8.3% | 3,454,221 |
| Quarterly Revenue (Industry, $ In Thousands)** | Q2 2024 | % Change from Prior Year | Q2 2023 | YTD June 30, 2024 | % Change from Prior Year | YTD June 30, 2023 |
|---|---|---|---|---|---|---|
| Casino | 413,657 | -1.3% | 419,297 | 831,398 | -0.9% | 838,621 |
| Rooms | 182,695 | 1.7% | 179,634 | 330,821 | 3.6% | 319,283 |
| Food & Beverage | 144,582 | 2.6% | 140,970 | 274,268 | 1.5% | 270,105 |
| Entertainment & Other | 88,830 | 12.4 | 79,059 | 163,200 | 10.6% | 147,589 |
| Casino Licensees Total Revenue | 829,764 | 1.3% | 818,960 | 1,599,687 | 1.5% | 1,575,598 |
| Gross Operating Profit (GOP) | 178,385 | -1.3% | 180,737 | 333,782 | -4.9% | 350,914 |
** 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, 2024 & 2023 |
Q2 2024 | Q2 2023 | YTD 2024 | YTD 2023 |
|---|---|---|---|---|
| Occupancy percentage | 73.3% | 74.4% | 69.1% | 69.8% |
| Average Daily Room Rate (ADR) | $178.55 | $173.22 | $171.83 | $165.50 |
| Revenue Per Available Room (RevPAR)* | $130.88 | $128.88 | $118.73 | $115.52 |
* RevPAR= ADR X Occupancy Percentage
Atlantic City Casino Operator Taxes & Fees
Source:
Total Paid Taxes & Fees |
$207,872,000 | $183,378,000 | 13.4% | |||
|---|---|---|---|---|---|---|
Taxes & Fees |
Q2 2024 | Q2 2023 | % | |||
|
Casino Gaming Gross Revenue Tax |
$45,303,000 | $43,860,000 | 3.3% | |||
|
Internet Gaming Gross Revenue Tax |
$85,137,000 | $70,339,000 | 21.0% | |||
|
Sports Wagering - Retail Gross Revenue Tax (includes racetracks) |
$460,000 | $778,000 | -40.9% | |||
|
Sports Wagering - Internet Gross Revenue Tax (includes racetracks) |
$31,483,000 | $27,279,000 | 15.4% | |||
| Investment Alternative Tax/CRDA Obligations | $22,940,000 | $20,479,000 | 12.0% | |||
| 1.25% Additional Tax | $1,195,000 | $1,255,000 | -4.8% | |||
| 1.25% EDT | $1,899,000 | $1,504,000 | 26.3% | |||
| Luxury Tax | $12,497,000 | $11,114,000 | 12.4% | |||
| Tourism Promotion Fee | $2,264,000 | $2,172,000 | 4.2% | |||
| Hotel Room Fee | $3,070,000 | $3,111,000 | -1.3% | |||
| Hotel Room Surcharge | $2,047,000 | $2,074,000 | -1.3% | |||
| Parking Fees | $4,694,000 | $4,598,000 | 2.1% | |||
Atlantic City Casino Operator Spending
Source: - Member Reported
| Total | $154,678,000 | $183,102,000 | -15.5% | ||
|---|---|---|---|---|---|
Purchase of Goods and Services From New Jersey Vendors(By County) |
Q2 2024 | Q2 2023 | % Change | ||
| Atlantic | $100,051,000 | $129,091,000 | -22.5% | ||
| Bergen | $2,542,000 | $3,808,000 | -33.3% | ||
| Burlington | $3,859,000 | $5,057,000 | -23.7% | ||
| Camden | $5,117,000 | $6,243,000 | -18.0% | ||
| Cape May | $2,021,000 | $2,834,000 | -28.7% | ||
| Cumberland | $5,585,000 | $6,628,000 | -15.7% | ||
| Essex | $10,880,000 | $5,005,000 | 117.4% | ||
| Gloucester | $2,621,000 | $2,269,000 | 15.5% | ||
| Hudson | $621,000 | $800,000 | -22.4% | ||
| Hunterdon | $28,000 | $32,000 | -12.0% | ||
| Mercer | $3,690,000 | $678,000 | 444.2% | ||
| Middlesex | $3,425,000 | $3,422,000 | 0.1% | ||
| Monmouth | $2,689,000 | $3,195,000 | -15.8% | ||
| Morris | $1,565,000 | $1,285,000 | 21.8% | ||
| Ocean | $880,000 | $1,413,000 | -37.7% | ||
| Passaic | $926,000 | $777,000 | 19.1% | ||
| Salem | $122,000 | $81,000 | 50.3% | ||
| Somerset | $2,630,000 | $2,132,000 | 23.4% | ||
| Sussex | $0 | $10,000 | -100.0% | ||
| Union | $5,421,000 | $7,258,000 | -25.3% | ||
| Warren | $4,000 | 1,000 | 245.4% | ||
Other Spending |
Q2 2024 | Q2 2023 | % | |||
|---|---|---|---|---|---|---|
| Capital Expenditures | $47,678,000 | $82,333,000 | -42.1% | |||
| PILOT Contributions (Includes PILOT & additional payments under PILOT legislation) | $29,788,000 | 29,126,000 | 2.3% | |||
| CRDA Special Improvement District | $331,000 | $314,000 | 5.3% | |||
| Municipal/Atlantic City Fees- Water | $1,253,000 | $1,207,000 | 3.8% | |||
| Municipal/Atlantic City Fees- Sewer | $3,445,000 | $3,963,000 | -13.1% | |||
|
Municipal/Atlantic City Fees- Other (permits, boardwalk seating, mercantile etc.) |
$1,190,000 | $1,229,000 | -3.2% | |||
| Charitable Contributions | $310,000 | $333,000 | -6.8% | |||
Total Spending |
$238,673,000 | $301,606,000 | -20.9% |
|---|
Atlantic City Statistical Transportation Data
Source:
| Travel Mode | July 2024 |
Change from Prior Year |
July 2023 |
YTD 2024 |
Change from Prior Year |
YTD 2023 |
|---|---|---|---|---|---|---|
| AC Expressway | ||||||
| Total Toll-Paying Traffic Pleasantville Toll Plaza |
1,923,114 | -0.1% | 1,925,008 | 10,487,613 | 1.8% | 10,299,039 |
| AC Airport | ||||||
| Scheduled Service Passengers | 78,568 | 24.9% | 62,908 | 563,991 | 26.7% | 445,074 |
| Charter Passengers | 12,567 | -9.9% | 13,945 | 69,196 | -11.6% | 78,232 |
| Total Air Passengers | 91,135 | 18.6% | 76,853 | 633,187 | 21.0% | 523,306 |
Atlantic City Meetings and Conventions Data
Source:
| August '24 | August '23 | % Change from Prior Year |
TOTAL 2024 YTD |
TOTAL 2023 YTD |
% Change from Prior Year |
|
|---|---|---|---|---|---|---|
| Conventions/Tradeshows/Meetings* | ||||||