Generating money is the heart and soul of any successful business, and the casino world is no different. Gambling has always been a driving force for the economy, especially in places like New Jersey. This is because here you can find one of the main gaming hubs, Atlantic City. This has led a lot of people to ponder over what the current Atlantic City casinos revenue is.
This is why we decided to take a closer look at how the New Jersey online gambling revenue is earned. We will also briefly go over what causes the decline in revenue as well as what we can make out of it.
The Atlantic City casinos revenue is mostly driven by three main gaming activities, Table Games, Poker, and Slots. There are a total of nine casinos for you to visit while in the Garden State. These locations have served as one of the main gaming hubs for players since 1978:
|AC Casino||Table Games||Poker||Slot Machines|
While you can always go to a casino in New Jersey just to watch others play or have a drink with friends, gambling will always be synonymous with casinos. Thus, the demand for more ways to spend your money was born. To cash in on this demand, a diverse range of games has been added to the mix to appease even the most pretentious player.
So, in this section, we will go over the most popular casino game categories that contribute to the New Jersey gaming revenue as of 2023.
Slots will always serve as a staple in any casino out there. We would argue they alone provide a huge margin of the total Atlantic City casinos revenue. It is believed that the total Atlantic City revenue gathered from slots alone is well over $13 billion as of 2023. This gambling game is one of the most proficient revenue generators in the world. The main reasons behind this appeal are the prospect of a huge payout as well as how easy it is to win big. Here are some of the most popular slots in the Garden State:
|Slot Name||Main Attractions|
|Ghostbusters 4D||A progressive jackpot, a unique cabinet that allows you to use gestures to interact, and a max bet of 400 credits|
|IGT’s Classic Red White & Blue||A classic three-reel single pay line slot game, the option to bet between one and three credits per spin and the chance to win a 10,000 credit jackpot|
|Monopoly Money Grab||It features the new Hit & Win mechanic during which you get three additional spaces full of wild symbols and instant credit prizes|
|Survivor||A 5×3 video slot game that features the characters from the Survivor series, simplistic gameplay, and a low price point|
|Ocean Magic Ultra||It features a huge curved screen, high-end graphics, and a high max bet of up to 600 credits per spin|
There is no shortage of table games available in AC, with some of the most beloved titles including Blackjack, Roulette, and Craps. These games are significantly more difficult to get the grasp of since they also add the concept of strategic betting to the mix.
Socializing with other players is also a huge pull for this category, an element that has been made available at most licensed NJ online casinos, through the live dealer version of the games. In total, table games are believed to add around $4.8 billion to the Atlantic City casinos revenue.
Last but not least we have Poker, one of the most beloved casino games of all time. There is no question about it, Poker is the face of gambling as we know it. It perfectly combines skill and luck into one neat package that can earn you a lot of money in a short period.
In Garden State, you can find specialized poker rooms that host tournaments as well as cash games. During these events, you can win big time, which is why poker contributes around $175 million to the Atlantic City revenue. Among the most popular poker tournaments in New Jersey, you can find the ones held by BetMGM and Borgata.
The Atlantic City gaming revenue may be one of its most proficient avenues, but it is not its only attraction. For instance, restaurants and bars will forever serve as a massive pull for everyone not interested in the gaming aspect.
Atlantic City casino earnings are also significantly influenced by them, with a lot of money going into fine dining, buffets, and bars. In addition, you can also get access to nightclubs and other such entertainment venues where concerts, shows, and even special events take place. Moreover, large resort complexes such as Resorts Casino Hote, Tropicana Atlantic City, and Bally’s Atlantic City Hotel & Casino all add to the already huge Atlantic City revenue. Last but not least, we have other attractions such as retail shops, fitness centers, and spas such as:
|Retail Shops||Fitness Centers||Spas|
|Tanger Outlets Atlantic City||Tilton Fitness||Bally’s Pool and Fitness|
|Playground Pier||Island Gym – Fitness & Training||Exhale Spa – Bathhouse|
|Quarter at Tropicana||Wolf Fitness – Brigantine||Qua Baths and Spa at Caesars Atlantic City|
All of these add to both the guest experience as well as to the gambling revenue in the Garden State.
Those nine mentioned casinos reportedly only generated a profit of $135.4 million in Q1 2023. This means that there has been a total decline year-on-year of 14.8% now. There is a silver lining to it though, since at the same time, their combined revenue increased by 4.6% in that same period. This in itself proves just how volatile the NJ gambling revenue can be.
Out of the nine, Resorts Casino was the only one that reportedly lost a total of $284,000. This is surprising, considering the casino’s profit of $527,000 from Q1 of 2022. When asked about it, Mark Giannantonio, the casino’s president, stated that this was mostly due to inflation. Ocean Resort earned the biggest profit, with a total of $23.6 million under its belt.
On the other hand, Borgata was the one to lead the casino revenue table with a total of $186.9 million. Resorts Casino was again the most lacking here, only earning a total of $35.4 million. Bally’s made a stunning recovery, coming from a $6.8 million loss in Q1 2022 to a profit of $88,000 this quarter. When it comes to the NJ online casino revenue, its main driving force was Resorts Digital with its 5.9% increase. They almost reached a new threshold of $8 million, while Caesars Interactive Entertainment NJ’s profits weren’t as lucky. They reported a decline in online gambling revenue of 13.2% to $6.8 million.
When it comes to the hotel room occupancy rate, all the locations reported an increase of 2.1% to $65.2%. At the same time, Hard Rock’s occupancy rate alone is worth mentioning as they managed to reach a whopping 84.8%. Furthermore, Golden Nugget also reported having the lowest average room cost, sitting comfortably at $113 per night. By contrast, Ocean Resort had the highest average room rate of $212, driving the Atlantic City revenue even higher than ever before. James Plousis, the current Chairman of the New Jersey Casino Control Commission stated the following regarding these numbers:
“In May, Atlantic City’s casino win was lower compared to the same month last year. While most of the casinos won less at the gaming tables and slot machines, it was still Atlantic City’s second-best May in nine years. Internet gaming win and sports wagering revenue continued to be strong, helping push Atlantic City’s gaming revenue to over $400 million for a third consecutive month. This year, Atlantic City’s total gaming revenue reached $2 billion faster than any other year in the past decade.”
There are a lot of different factors that influence the Atlantic City revenue. For the sake of not dumping too much information on you all at once, we will primarily focus on three key elements, as follows:
Since AC is a coastal city, seasonal variation in tourism is bound to influence the Atlantic City casinos revenue. As the summer months roll over, more tourists emerge, which leads to even higher revenues. In contrast, during the winter months, fewer tourists decrease the New Jersey gambling revenue by a large margin. At the same time, special events such as festivals and conventions may also help the tourism of AC and thus generate more revenue.
Atlantic City’s biggest competitor has always been Las Vegas. They always compete against each other for tourists and gamblers alike. Las Vegas has a more iconic reputation, with plenty more entertainment options and casinos to choose from. This competition pushes visitors away from Atlantic City, which then negatively influences the Atlantic City casinos revenue.
Online casino games have changed the gaming industry as we know it. As the years pass, these platforms become more popular driving potential gamblers away from traditional casinos.
In Q1 2023 it became very clear that NJ online casinos are here to stay since they outperformed their physical counterparts by a decent margin. Below you can see a graph depicting the Atlantic City online casinos revenue 2023:
|Licensee||Total Revenue||Slots & Tables||Poker||Taxes|
|Bally’s Atlantic City||$81,370,284||$81,370,284||$ –||$12,208,411|
|Caesars Atlantic City||$624,531,423||$522,960,998||$101,668,459||$93,438,448|
|Golden Nugget Atlantic City||$1,818,193,569||$1,817,614,439||$124||$272,802,040|
|Hard Rock Atlantic City||$259,409,747||$259,409,747||$ –||$38,846,229|
|Resorts Atlantic City||$1,359,831,425||$1,289,929,572||$68,348,389||$203,578,710|
|Tropicana Atlantic City||$509,024,925||$509,024,925||$ –||$76,384,120|
|Trump Taj Mahal||$6,032,943||$5,470,434||$562,509||$916,330|
Not only that but the NJ online casino revenue has become a major driving force for companies like Resorts Digital and Caesars Interactive Entertainment NJ. If the NJ online gambling revenue will continue to overthrow the traditional one, things could change in the near future for all of us.
Atlantic City has a total of nine casinos which serve as the main gaming hub for gamblers and tourists alike. The most profitable casino in Atlantic City in Q1 2023 was Ocean Resort, with a total profit of $23.6 million. In total, the NJ casinos reported a collective operating profit of $135.4 million this quarter. This has been quite upsetting considering its former $160 million profit in Q1 of 2022.
The Atlantic City casino revenue 2023 report released by NDJGE indicates that this drop in numbers has hurt the industry. One of the main reasons behind the New Jersey gambling revenue drop is their ongoing competition with the Las Vegas casinos. This is because Atlantic City only has 9 casinos on land and 31 online casinos. In comparison to that, Las Vegas has over 60 major casinos on land and hundreds of online casinos to choose from. All nine of the Atlantic City Casinos are owned by Caesars Entertainment, Inc. It is unknown how they will try to increase their profits in the following years.
Everybody wants to win big, but before you get to collect your winnings, you should first understand how the NJ gambling winnings taxes work. It isn’t just about pocketing all your hard-earned money, it also comes with certain responsibilities such as accurate reporting and compliance with tax regulations.
Luckily, if you win over $5,000, the gambling institution will withhold your taxes while also paying 24% in federal tax to the IRS on your behalf. Therefore, you will only need to worry about your NJ income tax, considering your winnings. This is why you need to keep a record of both your wins and losses, so you can make your job easier for the NJ gambling tax forms.
Accurately predicting what will happen to the gambling industry in the future is a tough job. There are a lot of different aspects to take into consideration. We have changes in consumer behavior, economic trends, and even legal regulations that can change the course of history altogether. The only thing we can do right now is speculate about what the future holds for the Atlantic City gambling revenue.
For one, we can safely say that online gambling is on a steady rise, an increase that will not slow down anytime soon. We foresee a global market increase of about 11.5% every year from 2020 to 2027. We already know that companies such as Caesars Interactive Entertainment NJ are capitulating on this rising trend. At the same time, COVID-19 is still taking its toll on traditional casinos. As more people take the vaccine, traveling will become more accessible. This in turn will drive the Atlantic City casinos revenue even higher.
The Atlantic City casinos revenue is proof of how much an industry can change if the right buttons are pressed in sequence. A few years ago, the online gambling scene was pretty much unheard of, and yet nowadays it drives the industry forward. So, while the numbers may be down for traditional gambling, we may be looking at the dawn of a new virtual age as we speak.
Just remember to gamble to your own extent. Don’t bet any more than you can afford to spend, no matter how enticing the rewards may be. If you feel like you or someone you know is struggling with a gambling addiction be sure to check out the New Jersey Division of Gaming Enforcement. Alternatively, you can call 1-800-GAMBLER or you can partake in a self-exclusion program in case you need it.
The Atlantic City Casinos made a total of $150 million in revenue as of January 2023.
Borgata Casino is the highest-revenue casino in Atlantic City.
There are a total of 9 casinos in Atlantic City NJ.
Atlantic City was the only place in New Jersey that had legal casinos available back in 1976.
The revenue of gaming in New Jersey is $457 million as of June 2023.