February 2022
In LIGHT of the data.
February, traditionally a transitional month for the resort, has both fewer days and greater risk of weather-related impacts on visitation to the resort. Popular holiday weekends such as Presidents’ Day and Valentine’s Day and waning public concern for public health threats related to COVID-19 however, may have given a boost to brick-and-mortar gaming figures which increased month-to-month over January 2022 by 16%. While a marked improvement month-to-month and year-to-year, February 2022 brick and mortar gaming revenues fell short of February 2020 (just barely pre-pandemic) by 3%.
Monthly sports betting handle for the state increased over February 2021, but fell below 1 billion for the first time since September 2021. An observed decline in handle from January into February followed a similar pattern to previous years and is not necessarily indicative of increased competition from New York operators.
Recent investments by casino operators to expand and improve their property offerings are a testament to their commitment to the in-person gaming experience. Ocean Casino Resort’s unveiling of a $5 million sports book venue is just one example of confidence that New Jersey will continue to compete with neighboring jurisdictions for in-person patrons.
Further relaxation of pandemic related precautions nationwide give us hope that spring 2022 will return operators to a pre-pandemic operating environment.
Recent fluctuations in gas prices, resulting from the hostilities in Ukraine may or may not have a positive impact on brick-and-mortar gaming revenue and visitation to the resort. Atlantic City may see an increase in visitation from guests this spring and summer who wish to save gas by traveling to destinations closer to home. Alternatively, rising costs my eventually reduce the amount of discretionary spending by individuals who may decide to limit their gaming and entertainment budgets accordingly.
Atlantic City Gaming Win & Total Casino Revenue
Source:
| Monthly Revenue (Industry, $ In Thousands) |
February 2022 |
% Change from Prior Year | February 2021 | YTD February 2022 | % Change from Prior Year | YTD February 2021 |
|---|---|---|---|---|---|---|
| Total Gaming Win (includes Internet & Sports Wagering) | 356,728 | 38.0% | 258,455 | 696,839 | 25.8% |