Atlantic City Sees Year-Over-Year Revenue Decrease When Comparing Feb. 2023 and 2024
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While NJ online casino play became legal in 2013, it appears the tide is shifting in Atlantic City, with online sites supplanting retail casinos for monthly revenue.
According to the New Jersey Division of Gaming Enforcement, retail casinos revenue was down 1.6% year-over-year. Of the nine casinos in the state, only three posted more revenue in February 2024 than in February 2023. In Februrary 2024, they collectively generated nearly $212 million.
Now, going back to February 2020, February 2024 has a 3% decrease overall.
So far this year, the state of New Jersey has generated $872.2 million. Of that, $456.2 million comes from online books, while the nine retail sites have generated $413 million. That’s a 52.3% rate for online compared to 47.7% for retail. Inside the retail casino, the retail sportsbooks are actually down nearly $262,000 in the year due to the Super Bowl.
While there are nine retail casinos in New Jersey, there are three that clearly stand head and shoulders above the rest.
- Borgata: $53,609,599
- Hard Rock: $41,116,719
- Ocean Casino: $31,061,445
These three casinos accounted for about 60% of the monthly number, which was close to $212 million.
Next is somewhat of a middle-tier of casinos:
- Harrah’s: $18,241,402
- Tropicana: $16,687,079
- Caesars: $16,408,132
And finally, Resorts, Golden Nugget, and Bally’s all posted $12,197,708 or less.
The three casinos that saw year-over-year increases were Golden Nugget, Hard Rock, and Ocean Casino.
It’ll be intriguing to see, as time goes on, what happens to Atlantic City retail casinos as online platforms reign supreme.
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