took a considerable bite<\/a> out of the revenue increase as higher costs for almost everything swelled overhead. The US government is seeking to curb inflation, and the Feds’ interest rate hikes are reportedly helping slow rising costs compared with last summer.<\/p>\n<\/div>\nMeanwhile, Atlantic City casinos continue to generate more revenue. Along with the $214.9 million the casinos won in-person last month, the resorts’ iGaming platforms added about $142.6 million in gross revenue. That’s 10% higher than February 2022.<\/p>\n
Casino sportsbooks added about $20 million — a 39% year-over-year surge — to take the casinos’ total February GGR to roughly $377.5 million. That’s 5.8% better than February 2022, and a staggering 62.5% stronger than February 2019.<\/p>\n
The brick-and-mortar casinos stress that much of their iGaming and sports betting revenue is shared with their third-party gaming providers like DraftKings and FanDuel — entities that don’t have nearly the same investment in Atlantic City as the physical resorts.<\/p>\n
Some Casinos Struggling<\/b><\/h2>\n
Despite the topline numbers, the DGE’s breakdown by casino shows that while some properties prosper, others see their market share dwindle.<\/p>\n
In February 2023, only three casinos, Borgata, Hard Rock, and Ocean, won more money on their physical floor than they did in February 2019. Bally’s, Caesars, Golden Nugget, Harrah’s, Resorts, and Tropicana all saw in-person gaming decline.<\/strong><\/p>\nTwo of the biggest losers from 2019 were Tropicana and Golden Nugget, which saw in-person GGR decline 29% and 30%, respectively.<\/p>\n
Jane Bokunewicz, director of Stockton University’s Lloyd D. Levenson Institute of Gaming, Hospitality, and Tourism, said locals have seemingly found their spots in Hard Rock and Ocean, Atlantic City’s latest newcomers that both opened in June 2018.<\/p>\n
Borgata, meanwhile, has long been the market leader<\/a> in Atlantic City.<\/p>\n","protected":false},"excerpt":{"rendered":"Atlantic City casinos continue to demonstrate resiliency, despite roaring inflation and a rattled stock market and global economy. The nine Atlantic City casinos continue to stress that their own economic positions are on shaky ground. That’s largely because of how COVID-19 severely hurt their business operations for nearly three years. As a result, the resorts […]<\/p>\n","protected":false},"author":25,"featured_media":264845,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[81885,19],"tags":[25,82124,81871,26],"acf":[],"yoast_head":"\n
Atlantic City Casinos Enjoy Strong February Down the Shore<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n