December 2024 Snapshots
In LIGHT of the data.
In 2024, Atlantic City鈥檚 casino operators set a new record industry high for total
annual gross gaming revenue surpassing last year鈥檚 record high of $5.24 billion by
8.7%. 2023 was the first time the industry exceeded the 2006 peak of $5.22 billion,
although market conditions have evolved considerably since then.
Strong wins in internet gaming revenues drove the city to its eighth consecutive year
of year-over-year, total gross gaming revenue growth (exempting 2020/the pandemic)
even as the mature brick-and-mortar market remained essentially flat following the
pandemic鈥檚 disruptions. Gross gaming revenues however, are an imperfect predictor
of the overall performance of an industry that incorporates so many additional experiences
and amenities beyond gaming. We will have a better idea of the industry鈥檚 overall
performance and its impact on the regional economy when the fourth quarter and year-end
net revenue reports are released this spring.
The December calendar did not fall favorably this year for Atlantic City operators, impacting comparisons of brick-and-mortar gaming revenues year-over-year for the month 鈥 which were essentially flat with a 0.3% decline year-over-year ($231.7 million in 2024 compared to $232.4 million in 2023). Internet gaming, which does not seem to be impacted by the number of weekends in the month in the same way that in-person gaming is, predictably showed a year-over-year increase for the month (26.5%). At $228 million, internet gaming realized its fourth consecutive month of greater than $200 million in revenue, and surpassed October 2024 ($213 million) and November 2024 ($214 million) to set a new single-month record. A 42.1% decline in year-over-year December sports wagering revenue for Atlantic City operators does not seem to have negatively impacted their overall gaming performance for the month. December 2024 was the strongest December in recent history in terms of total GGR 鈥 increasing 5.4% over December 2023.
Notably, Atlantic City sports wagering gross revenue increased 4.5% for the year-ended
2024 compared to 2023, and the sports betting industry overall (including racetracks)
saw a 6.7% year-over-year increase in handle (the amount of money wagered by gamblers
at New Jersey sportsbooks) at year-end 2024 compared to 2023. This seems to indicate
that this form of gambling activity has not yet peaked.
New Jersey was a fast mover when it came to innovative new gaming products, such as
internet gaming, and the state seems to be reaping the benefits of this. The industry
is evolving and changing. These new products are very popular and do not seem to have
reached their peak. At the same time, brick-and-mortar revenues have been relatively
flat. They are not showing signs of proportionate decline, which we鈥檇 expect if cannibalization
were an issue.
There appears to be an opportunity for both brick-and-mortar and online offerings
to shape the future of Atlantic City鈥檚 casino gaming industry, but operators will
need to stay on top of emerging trends and responsive to changes in customer preferences.
Continuous innovation and reinvestment could be the 鈥渘ew normal鈥 for the industry,
which can no longer rely on established ways of doing business.
Mindful of challenges on the horizon with incoming competition from New York, operators
continue to invest in their properties and in-person gaming experiences to offer a
world-class destination for patrons. While these investments may not translate into
immediate profit gains, they could be seen as a safeguard against future market competition
and disruption 鈥 of both the foreseen and unforeseeable variety.
Beyond the performance and actions of the casino gaming industry, a concerted citywide effort to 鈥渦p its game鈥 in appealing to visitors is underway and will likely be critical to the resort鈥檚 future prosperity.
Atlantic City Gaming Win & Total Casino Revenue
Source:
| Monthly Revenue (Casino Licensees, $ In Thousands |
December 2024 |
% Change from Prior Year | December 2023 | YTD
2024 |
% Change from Prior Year | YTD 2023 |
|---|---|---|---|---|---|---|
| Casino Gaming Win | 231,753 | -0.3% | 232,450 | 2,817,507 | -1.1% | 2,847,916 |
| Internet Gaming Win | 228,011 | 26.5% | 80,308 | 2,387,164 | 24.1% | 1,923,742 |
| Sports Wagering Revenue | 30,373 | -42.1% | 52,434 | 492,982 | 4.5% | 471,670 |
| Total Gaming Win (includes Internet & Sports Wagering) | 490,137 | 5.4% | 465,192 | 5,697,653 | 8.7% | 5,243,328 |
| Quarterly Revenue (Industry, $ In Millions)** | Q3 2024 | % Change from Prior Year | Q3 2023 | YTD September 30, 2024 | % Change from Prior Year | YTD September 30, 2023 |
|---|---|---|---|---|---|---|
| Casino | $431.61 | -0.4% | $433.5 | $1,263.01 | -0.7% | $1,272.122 |
| Rooms | $238.33 | -9.4% | $263.11 | $569.15 | -2.3% | $582.39 |
| Food & Beverage | $165.13 | -2.4% | $169.14 | $439.40 | -0.0% | $439.24 |
| Entertainment & Other | $108.10 | 1.9% | $106.03 | $271.30 | 6.97% | $253.62 |
| Casino Licensees Total Net Revenue | $943.16 | -2.9% | $971.78 | $2,542.85 | -0.2% | $2,547.38 |
| Gross Operating Profit (GOP) | $242.86 | -13.6% | $281.21 | $576.64 | -8.8% | $632.13 |
** Data agregated from New Jersey Division of Gaming Enforcement for individual properties, includes amended totals as of November 22, 2024. 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 September 30, 2024 & 2023 |
Q3 2024 | Q3 2023 | YTD 2024 | YTD 2023 |
|---|---|---|---|---|
| Occupancy percentage | 84.1% | 86.6% | 74.1% | 75.2% |
| Average Daily Room Rate (ADR) | $201.08 | $217.70 | $182.97 | $185.61 |
| Revenue Per Available Room (RevPAR)* | $169.20 | $186.39 | $135.64 | $139.51 |
* RevPAR= ADR X Occupancy Percentage
Atlantic City Casino Operator Taxes & Fees
Source:
Total Paid Taxes & Fees |
231,340 | 211,573,000 | 9.34% | |||
|---|---|---|---|---|---|---|
Taxes & Fees |
Q3 2024 | Q3 2023 | % | |||
|
Casino Gaming Gross Revenue Tax |
$50,609,000 | $51,364,000 | -1.47% | |||
|
Internet Gaming Gross Revenue Tax |
$90,330,000 | $70,998,000 | 27.23% | |||
|
Sports Wagering - Retail Gross Revenue Tax (includes racetracks) |
$942,000 | $763,000 | 23.46% | |||
|
Sports Wagering - Internet Gross Revenue Tax (includes racetracks) |
$32,493,000 | $33,546,000 | -3.14% | |||
| Investment Alternative Tax/CRDA Obligations | $25,017,000 | $22,043,000 | 13.49% | |||
| 1.25% Additional Tax | $1,775,000 | $2,131,000 | -16.66% | |||
| 1.25% EDT | $ 1,494,000 | $1,223,000 | 22.16% | |||
| Luxury Tax | $ 15,129,000 | $15,724,000 | -3.78% | |||
| Tourism Promotion Fee | $2,530,000 | $2,559,000 | -1.09% | |||
| Hotel Room Fee | $ 3,555,000 | $3,625,000 | -1.90% | |||
| Hotel Room Surcharge | $2,370,000 | $2,418,000 | -1.99% | |||
| Parking Fees | $5,092,000 | $5,179,000 | -1.66% | |||
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 | November 2024 |
Change from Prior Year |
November 2023 |
YTD 2024 |
Change from Prior Year |
YTD 2023 |
|---|---|---|---|---|---|---|
| AC Expressway | ||||||
| Total Toll-Paying Traffic Pleasantville Toll Plaza |
1,367,839 | 1.0% | 1,354,091 | 16,770,066 | 1.4% | 16,544,599 |
| AC Airport | ||||||
| Scheduled Service Passengers | 74,685 | -4.0% | 77,811 | 857,938 | 18.5% | 723,788 |
| Charter Passengers | 9,219 | 25.4% | 7,354 | 118,850 | -2.9% | 122,339 |
| Total Air Passengers | 83,904 | -1.5% | 85,165 | 976,788 | 15.4% | 846,127 |
Atlantic City Meetings and Conventions Data
Source:
| December '24 | December '23 | % Change from Prior Year |
TOTAL 2024 YTD |
TOTAL 2023 YTD |
% Change from Prior Year |
|
|---|---|---|---|---|---|---|
| Conventions/Tradeshows/Meetings* | ||||||
| # of Shows | 11 | 13 | -15% | 65 | 90 | -28% |
| # of Room Nights | 2,168 | 4,721 | -54% | 103,821 | 111,933 | -7% |
| # of Attendees | 7,279 | 8,634 | -16% | 375,867 | 451,432 | -17% |
| Delegate Spending | $3,223,447 | $5,376,521 | -40% | $102,801,979 | $116,349,320 | -12% |
| Boardwalk Hall Bookings | ||||||
| # of Shows | 2 | 2 | 0% | 31 | 37 | -16% |
| # of Attendees | 300 | 4,594 | -93% | 138,782 | ||