Atlantic City Casinos September revenue faced a slight dip, which may not come as a surprise, considering the recent cyberattacks. These establishments collectively reported $246 million in revenue from in-person gamblers last month, reflecting a 2.1% YoY decrease.
Surprisingly, despite the September setback, the revenue AC Casinos from retail slots and table games has held strong. It actually boasted a nearly 2% growth from January to September compared to 2022. Join us for more in-depth insights into the ever-evolving casino landscape of AC Casino revenue!
Following an extensive investigation, we report that the cyberattacks on BetMGM and Caesars significantly impacted Atlantic City Casinos September revenue. While the full extent of the impact is yet to be determined, the initial figures are quite telling. These corporate giants own four AC casinos that saw a substantial combined 9.1% decline. This translated to an almost $12 million year-over-year shortfall in income.
The Marina District casino, Borgata, for instance, reported a decline of 12.9% in revenue from in-person gamblers compared to September 2022. These attacks undoubtedly played a major role in the decline of Atlantic City revenue for September.
Despite the challenges posed by recent cyberattacks, the first month of autumn proved to be a significant month for Atlantic City revenue, as overall gaming profit increased by an astounding 11.8%. The city’s gaming business is thriving, as seen by its $430.9 million in profits for the month. Particularly noteworthy was the online casinos, which had their second-best month ever, contributing a significant $163.8 million in revenue.
This increase in online gaming is indicative of how popular internet platforms are becoming. Sports betting was yet another huge success, with authorized bets reaching around $1.3 billion, the third-highest monthly total ever. The Atlantic City casinos saw a phenomenal 62.8% year-over-year rise in income from sports betting, which reached $71.6 million.
Below is an insight into AC Casino revenue:
|Casino||Total Gaming Win||Table Games||Poker||Slot Machines|
|Golden Nugget||$12,673,232||$2,225,569||$ –||$10,447,663|
|Hard Rock||$46,849,632||$12,208,092||$ –||$34,641,540|
|Ocean Casino||$39,527,025||$13,629,707||$ –||$25,897,318|
Amidst the complex dynamics of the Atlantic City casino landscape, each establishment has its unique story to tell. As a result, we thought it is important to offer a detailed breakdown of how each AC casino performed in September 2023, providing a comprehensive picture of the market’s dynamics, as follows:
With a 17.3% year-over-year reduction in revenue, Bally Casino Atlantic City had a $13.1 million in September revenue, marking the largest percentage decline in the market. Despite leading throughout the majority of 2023, Bally’s AC is down 2.4% for the year over the prior one.
The industry leader, Borgata Hotel Casino & Spa, reported $53.4 million in revenue from live players, a 12.9% decrease from September 2022. Nonetheless, Borgata Casino Atlantic City has recorded $562 million from live players this year, which puts it around 3% above last year’s pace.
Each of the three AC casinos under its management brought in more than $21 million a month from in-person wagering. Revenue for Caesars Casino Atlantic City was $21.4 million, down 4.5% from the same time in 2022. $22.2 million was reported by Harrah’s Resort AC, a 4.3% decline from the previous year. Tropicana AC, whose sales were $21.5 million in September of last year, had a more notable decrease of more than 8%.
The smallest casino hotel in the city brought in little less than $12.7 million in revenue in the previous month, a 6.1% decrease from the same month the previous year. The Golden Nugget Casino Atlantic City revenue, which reports yearly revenue of little under $112 million, is down 2.4% so far this year.
With $46.9 million in sales last month, Hard Rock Casino Atlantic City had a strong performance and increased its revenue year over year by a healthy 7.3%. With $384.9 million in revenue so far this year, Hard Rock is now slightly ahead (+1.3%) of its 2022 pace.
In the wake of last month’s cyber attacks on the New Jersey gambling scene, the Harrahs Casino Atlantic City closed with $22.2 million in revenue, a 4.3% decline from the previous year.
The Atlantic City Casinos September revenue of Ocean Casino is approximated at $39.5 million, a stunning 29.2% increase from the same month the previous year. Ocean Casino Atlantic City has been the market leader thus far in 2023. At this point in the year, Ocean has made $307 million more than it did the year before.
Considered the first casino in the city, Resorts Casino Atlantic City, experienced difficulties in September. It brought in little less than $15 million, a decrease of 10.7% from the same month last year. Resorts’ income from in-person gambling has decreased by 4% for the year.
With sales of $21.5 million in September of last year, Tropicana Casino Atlantic City had a more notable decrease of more than 8%. In comparison to other casinos, the aftermath of the recent cyber attacks on the New Jersey gambling scene appears more obvious in Tropicana AC’s numbers.
In September, the revenue AC Casinos showed incredible resilience in the face of several obstacles, including the hack on MGM Resorts. James Plousis, the Chairman of the New Jersey Casino Control Commission, was faced with an extraordinary obstacle. Plousis expressed:
“Atlantic City’s casino win for the month of September was negatively impacted by a widely reported cyber-attack, but it was still the third highest September result since 2012. Year-to-date casino win achieved its best result in ten years. Atlantic City’s total gaming revenue increased nearly 12%, aided by strong internet gaming and sports wagering — internet gaming win recorded its second-best month since inception and sports wagering revenue set a new monthly record.”James Plousis, the Chairman of the New Jersey Casino Control Commission
MGM’s Borgata casino in Atlantic City experienced a hack that caused several problems. These include gambling machines malfunctioning, unavailable coupons for gaming machines, and credit card machines being temporarily unavailable. The Borgata website was also unable to handle new reservations or changes, impacting bookings. Additionally, guests experienced issues with long front desk lines. This operation allegedly cost MGM Resorts over $8 million every day. The issues encountered did have an effect on the land-based Gross Gaming Revenue (GGR) for the month, impeding a potentially better outcome for the Atlantic City Casinos September revenue.
However, Jane Bokunewicz, coordinator of the Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism at Stockton University, noted that despite these adversities, Atlantic City’s casinos managed to match the revenue levels of September 2022:
“Operators statewide are finding success in offering their patrons the gaming products they seem to be looking for…While brick-and-mortar revenues were down slightly for the month, they exceeded September year-to-date 2022 and pre-pandemic 2019, indicating the full integrated casino experience is still a popular choice among gamblers.”Jane Bokunewicz, coordinator of the Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism at Stockton University
The financial challenges for Atlantic City Casinos September revenue were all due to cyberattacks on MGM Resorts. In-person casino revenue decreased by 2.1% compared to the previous year. However, sports betting and online casino industries prospered, with sports bettors losing a record $111.1 million. NJ online casinos made a profit of $163.8 million, up 21% from September 2022, while online poker fees increased by 5.5% to $2.4 million.
Despite challenges, the commercial gaming sector in New Jersey reported total revenue of $521.45 million in September 2023. The AC Casino’s revenue demonstrates resilience and growth potential, showcasing a dynamic blend of in-person and online gaming experiences, making Atlantic City a robust gaming and leisure destination for all!