November 2022
In LIGHT of the data.
Going into winter 2022, internet gaming continues to be the star of Atlantic City gaming operations 鈥 representing 37.7% of total gross gaming revenue earned by Atlantic City鈥檚 casino operators in the month of November, compared to 32.6% in November 2021 and 17.0% in pre-pandemic November 2019. Year-to-date, internet gaming revenue for 2022 ($1.5 billion) has increased 22% over year-to-date 2021 ($1.2 billion) and 248.7% over year-to-date 2019 ($433.4 million). Internet gaming revenues have seen remarkable gains since the start of the pandemic, more than doubling their share of total year-to-date gaming revenue for Atlantic City operators in November 2022 (34.9%) compared to the same period ended November 2019 (14.3%).
This has become indisputably a major source of revenue and economic activity for Atlantic City鈥檚 casino operators. But it is not a substitute for in-person gaming, which, in addition to generating gaming revenue, generates complementary revenues from the resorts鈥 nongaming amenities, such as lodging, dining and entertainment. It should also be noted, casino operators share a portion of the revenue from internet gaming with third-party providers.
In comparison, gross gaming revenues earned from slots, table games and poker have struggled in recent months to meet 2019 revenue levels. Year-to-date ended November 2022 brick-and-mortar gaming revenues ($2.57 billion) exceeded the same period in 2021 and compare favorably to the same pre-pandemic period ended November 2019 ($2.48 billion). While an encouraging sign of post-pandemic recovery, this modest performance may not be enough to offset recent increases in operating expenses, which are now well above those of 2019.
The industry could be facing strong headwinds finishing out 2022 and beginning the first quarter of 2023, as a traditionally slow seasonal period aligns with ongoing broader economic concerns. While impossible to predict, it may be reasonable to expect a slowing of internet gaming revenue growth and modest, if any, growth in brick-and-mortar revenues because of these external pressures. Depending on their business models, each Atlantic City gaming property may weather these challenges differently.
It is important to keep in mind that, despite these challenges, the Atlantic City industry, as a whole, is still trending ahead of total 2021 gaming revenues and is on track to generate near-term record total gross gaming revenue by year-end.
Atlantic City Gaming Win & Total Casino Revenue
Source:
| Monthly Revenue (Casino Licensees, $ In Millions |
November 2022 |
% Change from Prior Year | November 2021 | YTD November 2022 | % Change from Prior Year | YTD November 2021 |
|---|---|---|---|---|---|---|
| Total Gaming Win (includes Internet & Sports Wagering) | 388.10 | 7.1% | 362.32 | 4,336.40 | 12.4% | 3,856.90 |
| Sports Wagering Revenue | 27.41 | -26.9% | 37.48 | 255.16 | -9.0% | 280.54 |
| Internet Gaming Win | 146.16 | 23.9% | 117.95 | 1,511.24 | 22.5% | 1,233.68 |
| Casino Gaming Win | 214.53 | 3.7% | 206.89 | 2,569.99 | 9.7% | 2,342.67 |
| Quarterly Revenue (Industry, $ In Thousands)** | Q3 2022 | % Change from Prior Year | Q3 2021 | YTD September 30, 2022 | % Change from Prior Year | YTD September 30, 2021 |
|---|---|---|---|---|---|---|
| Casino | $469.19 | -7.3% | $505.87 | 1,368.67 | 3.0% | 1,328.80 |
| Rooms | $261.87 | 6.1% | $246.86 | $554.21 | 14.8% | $482.56 |
| Food & Beverage | $160.59 | 13.1% | $142.03 | $396.07 | 33.5% | $296.68 |
| Entertainment & Other | $88.49 | 20.8% | $73.27 | $209.76 | 38.5% | $151.41 |
| Casino Licensees Total Revenue | $980.14 | 1.3% | $968.03 | $2,528.71 | 11.9% | $2,259.45 |
** Data agregated from New Jersey Division of Gaming Enforcement for individual properties, includes amended totals as of August 22, 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, 2022 & 2021 |
Q3 2022 | Q3 2021 | YTD 2022 | YTD 2021 |
|---|---|---|---|---|
| Occupancy percentage | 86.66% | 81.25% | 76.2% | 68.0% |
| Average Daily Room Rate (ADR) | $216.55 | $224.61 | $184.71 | $178.07 |
| Revenue Per Available Room (RevPAR)* | $187.66 | $182.50 | $140.75 | $121.09 |
* RevPAR= ADR X Occupancy Percentage
Atlantic City Statistical Transportation Data
Source:
| Travel Mode | October 2022 |
Change from Prior Year |
October 2021 |
YTD October 2022 |
Change from Prior Year |
YTD October 2021 |
|---|---|---|---|---|---|---|
| AC Expressway | ||||||
| Total Toll-Paying Traffic Pleasantville Toll Plaza |
1,418,479 | -7.9% | 1,539,261 | 14,736,614 | -0.2% | 14,765,203 |
| AC Airport | ||||||
| Scheduled Service Passengers | 60,300 | -6.9% | 64,755 | 718,367 | 8.7% | 660,700 |
| Charter Passengers | 12,132 | 14.9% | 10,555 | 102,328 | 84.1% | 55,588 |
| Total Air Passengers | 72,432 | -3.8% | 75,310 | 820,695 | 14.6% | 716,288 |
Atlantic City Meetings and Conventions Data
Source:
| November '22 | November '21 | % Change from Prior Year |
TOTAL 2022 YTD |
TOTAL 2021 YTD |
% Change from Prior Year |
|
|---|---|---|---|---|---|---|
| Conventions/Tradeshows/Meetings* | ||||||
| # of Shows | 8 | 3 | 167% | 87 | 27 | 222% |
| # of Room Nights | 11,896 | 11,257 | 6% | 131,561 | 33,694 | 290% |
| # of Delegates | 24,251 | 22,415 | 8% | 451,121 | 96,393 | 368% |
| Delegate Spending | $11,141,642 | $9,752,090 | 14% | $159,820,273 | $29,344,231 | 445% |
| Boardwalk Hall Bookings | ||||||
| # of Shows | 5 | 2 | 150% | 43 | 5 | 760% |
| # of Attendees | 28,108 | 9,418 | 198% | 203,319 | 44,333 | 359% |
| Hotel Bookings | ||||||
| # of Shows | 12 | 7 | 71% | 158 | 104 | 52% |
| # of Room Nights | 5,862 | 2,983 | 97% | 121,571 | 94,156 | 29% |
| # of Attendees | 5,105 | 2,830 | 80% | 179,269 | 123,772 | 45% |
| Delegate Spending | $6,846,303 | $1,735,494 | 294% | $81,816,120 | $54,347,817 | 51% |
| Monthly Totals | ||||||
| # Convs_Trade_Mtgs / Boardwalk Hall / Hotel | 25 | 12 | 108% | 288 | 136 | 112% |
| # of Room Nights | 17,758 | 14,240 | 25% | 253,132 | 127,850 | 98% |
| # of Attendees | 57,464 | 34,663 | 66% | 833,709 | 264,498 | 215% |
| Delegate Spending | $17,987,945 | $11,487,584 | 57% | $241,636,393 | $83,692,048 | 189% |
Notes:
January 2021 hotel attendees reflect virtual attendance numbers
March and August 2021 conventions/tradeshow numbers updated based on information received after reporting deadline
January 2022 conventions/tradeshow numbers updated based on information received after reporting deadline
March 2022 Boardwalk Hall Bookings updated based on information received after reporting deadline
*Includes Meet AC events booked at Boardwalk Hall
LIGHT Snapshots is a publication of the Lloyd D. Levenson Institute of Gaming, Hospitality
& Tourism, 黑料社 School of Business
Jane Bokunewicz, Ph. D., Faculty Director and Associate Professor of Hospitality
Atlantic City Information
Casino Reinvestment Development Authority (CRDA) extends agreement with Atlantic City to finance Streetlight work - As reported by , the CRDA agreed to extend a standing agreement with the City for the inspection, repair, maintenance, replacement and provision of streetlights. In 2020, the CRDA set aside $500,000 to finance this work, according to details presented November 15, when the CRDA's original agreement with the City ended last July, $395,000 of that money had yet to be spent. In October, the New Jersey Governor's Office ordered the CRDA "to take all necessary measures to immediately take control of the citywide streetlight outages issue within the city of Atlantic City.鈥 The new agreement will be in effect through 2024 and makes nearly $600,000 available for the project.
Effort to improve city services 'kicks off' with public meeting - As reported by city officials held a public meeting November 16 to kick off the CitiStat program for improving city services. In the first of what will be recurring bi-weekly meetings, officials and residents met on the Atlantic City campus of 黑料社 to discuss residents' complaints and city actions to address them. The CitiStat program is a system of bi-weekly public meetings, data collection and public reporting intended to keep the city accountable on issues including city-wide infrasturctural maintenance and repairs (pot holes, street lights etc.), trash collection and code enforcement. A second meeting was held on and, as of , 88 complaints had been reported via the CitiStat process with six issues reported as closed, 76 in process and six not yet started.
Owners of former Atlantic Club Casino Hotel say property will be redeveloped as luxury condos - As reported by , current owners of the building, New York-based Colosseo Atlantic City Inc., say plans are in the works to redevelop the property that has been vacant for eight years following the closure of the casino in January 2014. Representatives of Colosseo told the Press more specific plans would be available by early January.
Residents of Stanley Holmes Village sue - As reported by , residents of Atlantic City's Stanley Holmes Village are suing the Atlantic City Housing Authority over the condition of the aging housing complex, particularly the availability of heat and hot water. Village residents met with city officials at a special meeting on to discuss the complex. According to representatives of the Atlantic City Housing Authority Board, the U.S. Department of Housing and Urban Development has agreed to begin issuing Section 8 vouchers in January to Stanley Holmes residents who want to try to find housing elsewhere. From , the city deployed inspectors to all 420 units at Stanley Holmes Village to document existing problems.
黑料社 and The Press of Atlantic City partner to open community reporting lab - According to a November 17 news release from 黑料社, the University and The Press of Atlantic City celebrated the opening of a new Community Innovation Reporting Lab located at the John F. Scarpa Academic Center, which is part of 黑料社's Atlantic City campus, on November 16. Additional reporting by .
Sun Country Airlines adds nonstop service to Atlantic City International Airport -