For the gaming industry in Atlantic City, NJ, August marked a record-breaking month for total gross revenue. It exceeded the mark of 500 million dollars (48.3 billion rubles). This is the highest amount in recent months.
The city’s nine land-based casinos collectively earned $280.3 million (27 billion rubles), up 2.3 percent from a year earlier. The iGaming sector brought in $155.3 million (about 15 billion rubles) in revenue, a figure up 18.1% from 2022. Improved financial statistics were also recorded in the sports betting sector: gross revenue amounted to 96 million dollars (9.3 billion rubles), exceeding the result for August last year by 47.1%.
If we consider the individual indicators of land-based gambling establishments, the top three are:
Borgata – 73 million dollars (over 7 billion rubles), +1.5%.
Hard Rock – 50.7 million dollars (4.9 billion rubles), +10.7%.
Ocean Casino Resort – 39.5 million dollars (3.8 billion rubles), +8.1%.
The success of Atlantic City’s gambling industry was praised by James Plousis, Chairman of the New Jersey Casino Control Commission. He noted that the casino hotels achieved the second highest total gaming revenue since inception and the best result in 18 years. Plousis also emphasized the impressive totals from Internet gaming and sports betting. This reflects their contribution to the overall success of the industry.
Internet gaming has become an important source of revenue for Atlantic City’s gambling market. They account for nearly one-third (32.7%) of the total industry during the peak summer tourist season.
Despite record total gross revenue, operators have had difficulty converting it to profit. The reason is rising costs, especially labor. Also real incomes, although increased, are still not at pre-pandemic COVID-19 levels.
Meanwhile, Las Vegas casino resorts want to employ over 10,000 people.