Atlantic City Casinos Report Slow Summer, No Gaming Fireworks in July

Atlantic City is a seasonal beach town where its nine casinos rely heavily on the traditionally busy summer months where New Jerseyans, New Yorkers, and Pennsylvanians flock down the shore. 2024 isn t going as the gaming resorts .

The New Jersey (DGE) on Friday reported that July brick-and-mortar gross gaming revenue (GGR) totaled $272.3 million, a 6.1% decrease from July 2023. Slot win fell almost 5% to $207.3 million while table games saw hold plunge 10% to about $65 million.

June , as in-person casino revenue was $244 million to officially kick off the summer, a 1% year-over-year improvement. But through two months of summer, traditional gaming win of approximately $516.4 million reflects a 2.8% decrease from June and July 2023, or an industrywide GGR loss of $15.1 million.

Only three of the nine casinos reported year-over-year gaming win increases in July. They were Hard Rock at $54.6 million (up 3%), with the other being two of the smaller retail players in Resorts at $15.5 million (up 1.9%) and Golden Nugget at $14.1 million (up 0.7%).

Market leader saw its in-person GGR slow over 3% to $75.9 million, as Hard Rock continues to cut into the MGM Resorts property s gaming dominance. Ocean Casino saw revenue slide 3.3% to $36.5 million, Tropicana win fell 4.2% to $23.1 million, and Caesars casino income plummeted 20% to $19.9 million.

Caesars sister property, Harrah s, also felt steep losses, as the Marina District casino reported a 24% revenue decline to $19.2 million. Bally s, long the bottom feeder of the Atlantic City casino industry, saw play further slow by 23% to GGR of just $13.3 million.

The in-person revenue declines were easily offset online and at the state s sportsbooks to move statewide GGR into positive territory.

iGaming websites and apps, which are tethered to the nine Atlantic City casinos through partnerships with third-party operators, won nearly $195.4 million from remote players. That marked a 26% gain from July 2023.

Sports betting, inclusive of retail wagering at the casino s physical sportsbooks, three horse racetracks, and online, totaled $80 million, 31% higher than a year ago.

In total, New Jersey gaming revenue hit $547.75 million, an 8%, or $41.6 million increase. Despite brick-and-mortar concerns, James Plousis, chair of the New Jersey Casino Control Commission, says the state s overall gaming industry remains strong.

Atlantic City s total gaming revenue reached its highest level for the month of July in over a decade, thanks to near-record internet gaming win and strong sports wagering revenue, Plousis said in a statement provided to Casino.org.

Plousis blamed a bad calendar on the in-person revenue shortfalls.

July s monthly casino win did not keep pace in comparison to recent years, partly due to a calendar with fewer weekend days, Plousis said. It fared better over a longer range, ranking as the fifth-best casino win for July in 11 years. 

The Atlantic City gaming industry continues to stress that its economic situation remains rattled, as consumer spending concerns linger and a U.S. presidential election approaches. The trade group that represents the nine resorts has asked state lawmakers not to at this time, a regulatory switch that casino executives say would lead to job cuts.

While overall GGR increased in July, the casinos share a considerable portion of the iGaming and sportsbook money with their partners like DraftKings and FanDuel.