February 2024
In LIGHT of the data.
Remote gaming options continue to be critical for Atlantic City鈥檚 gaming operations, especially in the shoulder months when seasonal weather patterns are most likely to keep gamblers at home. Despite an extra day in the month, a wet and wintry February kept brick-and-mortar revenues for Atlantic City casinos modest. While monthly totals did not gain on 2023, they are in range for activity seen post-pandemic.
In contrast, internet gaming revenues turned in a near-record, single-month performance. At $182.3 million in revenue, February 2024 fell just shy of last month鈥檚 record performance. Sports wagering also turned in a solid month in February 2024, improving nearly 70% compared to February 2023.
When combined, the solid performance of remote gaming and modest returns in brick-and-mortar revenues resulted in a respectable 13.3% increase year-over-year and maintained a 14.3% lead on 2023 for the year-to-date.
Atlantic City Gaming Win & Total Casino Revenue
Source:
| Monthly Revenue (Casino Licensees, $ In Thousands |
February 2024 |
% Change from Prior Year | February 2023 | YTD
2024 |
% Change from Prior Year | YTD 2023 |
|---|---|---|---|---|---|---|
| Casino Gaming Win | 211,586 | -1.6% | 214,968 | 416,294 | -2.4% | 426,644 |
| Internet Gaming Win | 182,335 | 27.9% | 142,593 | 365,616, | 23.7% | 295,460 |
| Sports Wagering Revenue | 33,916 | 69.8% | 19,978 | 90,328 | 121.4% | 40,801 |
| Total Gaming Win (includes Internet & Sports Wagering) | 427,837 | 13.3% | 377,539 | 872,238 | 14.3% | 762,904 |
| 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 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 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:
Total Paid Taxes & Fees |
$202,372,000 | $181,053,000 | 11.78% | |||
|---|---|---|---|---|---|---|
Taxes & Fees |
Q4 2023 | Q4 2022 | % | |||
|
Casino Gaming Gross Revenue Tax |
$41,117,000 | $40,737,000 | 0.93% | |||
|
Internet Gaming Gross Revenue Tax |
$77,886,000 | $66,611,000 | 16.93% | |||
|
Sports Wagering - Retail Gross Revenue Tax (includes racetracks) |
$1,039,000 | $967,000 | 7.45% | |||
|
Sports Wagering - Internet Gross Revenue Tax (includes racetracks) |
$37,005,000 | $30,752,000 | 20.33% | |||
| Investment Alternative Tax/CRDA Obligations | $21,425,000 | $19,237,000 | 11.37% | |||
| 1.25% Additional Tax | $1,405,000 | $1,205,000 | 16.6% | |||
| 1.25% EDT | $2,308,000 | $1,888,000 | 22.25% | |||
| Luxury Tax | $9,556,000 | $8,859,000 | 7.87% | |||
| Tourism Promotion Fee | $1,945,000 | $1,940,000 | 0.26% | |||
| Hotel Room Fee | $2,795,000 | $2,774,000 | 0.76% | |||
| Hotel Room Surcharge | $1,863,000 | $1,849,000 | 0.76% | |||
| Parking Fees | $4,028,000 | 4,234,000 | -4.87% | |||
Atlantic City Casino Operator Spending
Source: - 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:
| Travel Mode | January 2024 |
Change from Prior Year |
January 2023 |
YTD 2024 |
Change from Prior Year |
YTD 2023 |
|---|---|---|---|---|---|---|
| AC Expressway | ||||||
| Total Toll-Paying Traffic Pleasantville Toll Plaza |
1,233,299 | 1.4% | 1,216,153 | 1,233,299 | 1.4% | 1,216,153 |
| AC Airport | ||||||
| Scheduled Service Passengers | 64,773 | 15.7% | 55,969 | 64,773 | 15.7% | 55,969 |
| Charter Passengers | 4,482 | -1.3% | 4,539 | 4,482 | -1.3% | 4,539 |
| Total Air Passengers | 69,255 | 14.5% | 60,508 | 69,255 | 14.5% | 60,508 |
Atlantic City Meetings and Conventions Data
Source:
| February '24 | February** '23 | % Change from Prior Year |
TOTAL 2024 YTD |
TOTAL 2023 YTD |
% Change from Prior Year |
|
|---|---|---|---|---|---|---|
| Conventions/Tradeshows/Meetings* | ||||||
| # of Shows | 5 | 6 | -17% | 13 | 12 | 8% |
| # of Room Nights | 11,855 | 12,879 | -8% | 31,811 | 31,035 | 3% |
| # of Delegates | 34,234 | 39,225 | -13% | 80,513 | 103,592 | -22% |
| Delegate Spending | $9,082,382 | $9,867,037 | -8% | $26,128,514 | $26,608,964 | -2% |
| Boardwalk Hall Bookings | ||||||
| # of Shows | 3 | 4 | -25% | 4 | 8 | -50% |
| # of Attendees | 16,926 | 23,346 | -27% | 22,786 | 33,390 | -32% |
| Hotel Bookings | ||||||
| # of Shows | 9 | 11 | -18% | 19 | 17 | 12% |
| # of Room Nights | 6,548 | 8,363 | -22% | 14,625 | 12,060 | 21% |
| # of Attendees | 7,320 | 10,010 | -27% | 16,104 | 11,656 | 38% |
| Delegate Spending | $4,279,893 | $5,572,864 | -23% | $9,367,014 | $7,509,446 | 25% |
| Monthly Totals | ||||||
| # Convs_Trade_Mtgs / Boardwalk Hall / Hotel | 17 | 21 | -19% | 36 | 37 | -3% |
| # of Room Nights | 18,403 | 21,242 | -13% | 46,436 | 43,095 | 8% |
| # of Attendees | 58,480 | 72,581 | -19% | 119,403 | 148,638 | -20% |
| Delegate Spending | $13,362,275 | $15,439,901 | -13% | $35,495,528 | $34,118,410 | 4% |
*Includes Visit Atlantic City events booked at Boardwalk Hall
**Please note February 2023 Covention Center figures adjusted due to incorrect calculation
formula.
Atlantic City Information
Atlantic City Arts Foundation announces 100th Mural - As reported by , the has announced that Swiss-American artist Mona Caron will paint the city's 100th mural and its largest. The 19-story mural, located at The Atlantic in the South Inlet, will be part of Caron's WEEDS project, which highlights themes of resilience, renewal and perseverance.
Atlantic City awarded $20 million from Boardwalk Preservation Fund - As reported by and Atlantic City is one of 18 towns to receive a share of the state's $100 million Boardwalk Preservation Fund. At $20 million each, Atlantic City and Asbury Park received the largest share of funding for work on their boardwalks. Atlantic City's Boardwalk, the first in the nation, is in need of more than $100 million worth of work, according to a 2023 estimate.
Atlantic City hosts annual Boat Show - As reported by , the annual returned to the resort on February 28 through March 3. The show is visited by each year.
Casino Reinvestment Development Authority (CRDA) board approves resolution, asserts jurisdiction over "road diet" issue - As reported by , the CRDA board has approved a resolution asserting their jurisdiction over Atlantic Avenue as part of the city's Tourism District. Officials have filed papers on behalf of the CRDA seeking to stop planned changes to traffic patterns along Atlantic Avenue, know as the "road diet," without review by the authority.
Tennessee Avenue development project receives $2.5 million grant from the New Jersey Economic Development Authority - As reported by , a group