March 2022 Snapshots
In LIGHT of the data.
Total single month revenue for Atlantic City casino operators in March 2022 ($382.9 million) improved on February 2022 ($356.7 million) by 7%, but outperformed pre-pandemic March 2019 ($273.7 million) by 40%. Brick-and-mortar revenues for the month ($216.6 million) unfortunately tell a slightly different story, improving on February 2022 but falling short of March 2019 ($223.2 million).
Total gross gaming revenues for casino operators in the first three months of 2022 ($ 1,079.7 million) represent a new near term high, outpacing the same period in 2019 ($726.7 million) by 49% and 2011 ($793.9) by 36%. This performance is almost entirely driven by online and sports wagering revenues as evidenced by Casino Win (brick-and-mortar revenue) for the same three-month period ($612.7 million), which was promisingly on par with 2019 Casino Win ($597.1 million), but well short of 2011 ($793.9 million), which pre-dates both internet gaming and sports wagering in the state.
With such a strong start to the year we have every reason, barring as yet unforeseen complications, to expect 2022 to set new near-term records for total annual gross gaming revenue. However, operators may still struggle to gain ground on pre-pandemic 2019 in terms of brick-and-mortar gaming revenues.
Market pressures such as gas prices likely had an impact on March 2022 totals, which fell short of 2019. In comparison, January and February 2022 each exceeded 2019 single month brick and mortar revenue totals.
One indicator that has been slow to recover from the pandemic is casino employment. As the industry heads into the summer season, traditionally a period with higher demand for in-person gaming, we will begin seeing the restoration of some casino jobs in the city. But it is unlikely to result in pre-pandemic levels of employment, at least in the short term.
Atlantic City Gaming Win & Total Casino Revenue
Source:
| Monthly Revenue (Industry, $ In Thousands) |
March 2022 |
% Change from Prior Year | March 2021 | YTD March 2022 | % Change from Prior Year | YTD March 2021 |
|---|---|---|---|---|---|---|
| Total Gaming Win (includes Internet & Sports Wagering) | $382,893 | 17.8% | $324,994 | $1,079,732 | 22.8% | $878,960 |
| Sports Wagering Revenue | $25,627 | -3.1% | $26,451 | $58,580 | -21.5% | $74,596 |
| Internet Gaming Win | $140,655 | 23.7% | $113,669 | $408,481 | 31.3% | $311,240 |
| Casino Gaming Win | $216,611 | 17.2% | $184,874 | $612,672 | 24.2% | $493,124 |
| Quarterly Revenue (Industry, $ In Thousands)** | Q4 2021 | % Change from Prior Year | Q4 2020 | YTD December 31, 2021 | % Change from Prior Year | YTD December 31, 2020 |
|---|---|---|---|---|---|---|
| Casino | $452,937 | 21.8% | $372,012 | $1,781,740 | 44.0% | $1,237,617 |
| Rooms | $135,229 | 77.8% | $76,059 | $617,785 | 93.1% | $319,936 |
| Food & Beverage | $111,653 | 105.3% | $54,390 | $408,335 | 95.3% | $209,036 |
| Entertainment & Other | $64,262 | 80.2% | $35,659 | $215,671 | 80.5% | $119,490 |
| Casino Licensees Total Revenue | $764,081 | 42.0% | $538,120 | $3,023,530 | 60.3% | $1,886,079 |
** Data agregated from New Jersey Division of Gaming Enforcement for individual properties, includes amended totals as of April 12, 2022. 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, 2021 & 2020 |
Q4 2021 | Q4 2020 | YTD 2021 | YTD 2020 |
|---|---|---|---|---|
| Occupancy percentage | 66.39% | 46.25% | 67.60% | 61.75% |
| Average Daily Room Rate (ADR) | $156.60 | $121.58 | $172.88 | $139.74 |
| Revenue Per Available Room (RevPAR)* | $103.97 | $56.24 | $116.87 | $86.28 |
* RevPAR= ADR X Occupancy Percentage
Atlantic City Statistical Transportation Data
Source:
| Travel Mode | February 2022 |
Change from Prior Year |
February 2021 |
YTD February 2022 |
Change from Prior Year |
YTD February 2021 |
|---|---|---|---|---|---|---|
| AC Expressway | ||||||
| Total Toll-Paying Traffic Pleasantville Toll Plaza |
1,189,222 | 28.8% | 923,004 | 2,250,430 | 18.8% | 1,894,512 |
| AC Airport | ||||||
| Scheduled Service Passengers | 63,925 | 98.7% | 32,166 | 121,354 | 93.1% | 62,831 |
| Charter Passengers | 7,192 | 392.9% | 1,459 | 13,777 | 406.0% | 2,723 |
| Total Air Passengers | 71,117 | 111.5% | 33,625 | 135,131 | 106.1% | 65,554 |
Atlantic City Meetings and Conventions Data
Source:
| March '22 | March '21 | % Change from Prior Year |
TOTAL 2022 YTD |
TOTAL 2021 YTD |
% Change from Prior Year |
|
|---|---|---|---|---|---|---|
| Conventions/Tradeshows/Meetings* | ||||||
| # of Shows | 9 | 1 | 800% | 18 | 1 | 1,700% |
| # of Room Nights | 8,393 | 1,778 | 372% | 30,522 | 0 | N/A |
| # of Delegates | 93,029 | 1,200 | 7,652% | 174,366 | 36 | 484,250% |
| Delegate Spending | $13,329,123 | $1,331,747 | 901% | $32,560,553 | $4,125 | 789,247% |
| Boardwalk Hall Bookings | ||||||
| # of Shows | 2 | 0 | N/A | 8 | 0 | N/A |
| # of Attendees | 23,199 | 0 | N/A | 55,084 | 0 | N/A |
| Hotel Bookings | ||||||
| # of Shows | 12 | 5 | 140% | 24 | 3 | 700% |
| # of Room Nights | 12,202 | 1,970 | 519% | 25,843 | 448 | 5,660% |
| # of Attendees | 11,863 | 5,106 | 132% | 37,103 | 11,375 | 226% |
| Delegate Spending | $8,319,847 | $978,389 | 750% | $17,699,491 | $2,232,463 | 693% |
| Monthly Totals | ||||||
| # Convs_Trade_Mtgs / Boardwalk Hall / Hotel | 23 | 6 | 283% | 50 | 4 | 1,150% |
| # of Room Nights | 20,595 | 3,748 | 449% | 56,365 | 448 | 12,481% |
| # of Attendees | 128,091 | 6,306 | 1,931% | 266,553 | 11,411 | 2,236% |
| Delegate Spending | $21,648,970 | $2,310,136 | 837% | $50,260,044 | $2,236,588 | 2,147% |
Notes:
Reduction in figures beginning mid-March 2020 are due to cancellations and/or shut downs as a result of COVID-19
January 2021 hotel attendees reflect virtual attendance numbers
*Includes Meet AC events booked at Boardwalk Hall
LIGHT Snapshots is a publication of the Lloyd D. Levenson Institute of Gaming, Hospitality
& Tourism, ºÚÁÏÉç School of Business
Jane Bokunewicz, Ph. D., Faculty Director and Associate Professor of Hospitality
Atlantic City Information
Atlantic Avenue 'No Tolerance' policy begins - As reported by , starting March 1, the city began posting more police officers on Atlantic Avenue in an effort to address neighborhood complaints. Continuing coverage from .
Atlantic City jobs training program begins at City Hall - As reported by , under the guidance of Community Development Block Grant Director Marc A. Starling, the Atlantic City program has committed $150,000 in grant funds to get individuals back in the workforce. City residents participating in the program will receive assistance with job searches and have access to job counselors who will follow up with clients after 30, 60 and 90 days of employment to help with any problems, such as transportation or child care, that might impede a person’s ability to stay employed.
Masks no longer required in city buildings - As reported by , effective March 16 masks were no longer required in Atlantic City-owned buildings.
Neighborhood Revitalization Tax Credit to fund more than $2 million in projects for Atlantic City - As reported by , the N.J. Department of Community Affairs has announced that a total $14 million will be awarded to 19 community-based nonprofits accross the state including a total $2.05 million to three Atlantic City non-profits — $985,000 to the Atlantic City Development Corp. for use in the Chelsea neighborhood; $540,000 to the AtlantiCare Foundation, to be spent in Midtown; and $521,000 to the Atlantic County Economic Alliance for the Ducktown neighborhood.
New Jersey governor announces new executive director of Casino Reinvestment Development Authority - According to a March 17 , New Jersey Governor Phil Murphy announced the appointment of Sean M. Pattwell as executive director of the Casino Reinvestment Development Authority (CRDA). Mr. Pattwell was unanimously approved by the CRDA’s Board of Directors on March 15.
PILOT hearing set for April 25 - As reported by , a hearing on the motion to reconsider changes to the Atlantic City Payment In Lieu of Taxes (PILOT) law wil be held on April 25. The hearing had originally been scheduled for April 1.
New Jersey Gaming News
Bally's Atlantic City names new General Manager - As reported by , and , former Assistant General Manager, Michael Monty has been named General Manager of Bally's Atlantic City. Former General Manager, Nick Polcino is reported to be moving to another Bally's Corp. property in the Northeast as General Manager.
Bill authorizes Casino Reinvestment Development Authority to finance transportation projects - As recorded by the and reported by T, Bill "authorizes CRDA to finance transportation projects between Atlantic City Airport and Atlantic City Tourism District." Under current guidelines, CRDA must commit all assets and revenues to community development and the Tourism District in Atlantic City. The Bill, which passed out of the Senate Committee on March 24, would permit a limited expansion of this focus.
Bill proposes to use 1.25 percent tax on sports wagering for local Atlantic City tax relief - As recorded by the and reported by , Bill "provides that 1.25 percent of tax on sports wagering revenues be used for local tax relief purposes for Atlantic City." Funds collected from the 1.25 percent tax on sports wagering are currently directed to the Casino Reinvestment Development Authority (CRDA) for the marketing and promotion of the city. The Bill's sponsor estimates that passage of the bill would make and estimated $2.5 million available to the city annually. As of March 24 the Bill was referred to the Senate Budget and Appropriations Committee.
Debate of Atlantic City casino indoor smoking ban continues - According to reporting from , , and others, the debate over a ban on indoor smoking in Atlantic City casinos continues. According to as of March 21, 35 members of the state Assembly and Senate had sponsored a measure () to "eliminate the smoking ban exemption for casinos." The issued a statement opposing the ban.
DraftKings fined $150,000 for accepting proxy bets - As reported by , on March 2, the New Jersey Division of