According to the New Jersey Division of Gaming Enforcement press release, the casinos had another very good month. Overall, AC casinos brought in $239.1 million in October, a 15.8 percent increase over last year’s figure of $206.4 million.
The overall revenue number includes:
- Casino win
- Online gambling win
- Sports betting revenue
A look at the Atlantic City casino revenue numbers
Everyone might be focused on the latest sports betting revenue, but the casino win accounted for $200.6 million — or 84 percent — of the entire NJ gambling revenue.
Let’s give credit where credit is due.
No doubt, legal NJ sports betting and two new casinos contributed to the nearly 16 percent year-over-year increase for the industry. Especially considering, only one casino posted a positive year-over-year figure.
AC casinos have outperformed year-over-year numbers for the past five months. May was the last month the casino win in 2018 was less than that of 2017.
October’s revenue figure took a dip when compared with September’s though. Casinos earned $231.9 million in September. October’s number represents a 13.5 percent month-over-month decrease.
Of course, there is one extra day in October, but it is still a substantial decline.
What games are people playing?
There is a reason you have to walk by a slot machine to get anywhere in a casino, and that is because slot machines bring in the big bucks.
For October, slot machines accounted for $142.5 million of the $200.6 million in casino revenue. In other words, the one-arm bandits are responsible for 71.1 percent of casino win and 61.4 percent of the total gaming revenue.
Poker, on the other hand, continues to struggle.
It brought in $1.8 million, a 14.5 percent decrease when compared with last year. Table games account for the rest of the revenue posting $58 million for the month. That figure represents a 15.2 percent increase over October 2017.
How the new AC casinos are faring
It brought in $23.2 million for the month. We don’t have year-over-year numbers to compare, so let’s take a look at its performance since it opened in June.
October marks the fourth-straight month of declining revenue for the new casino. In July, its first full month of operation, Hard Rock earned $32.4 million.
Granted July is in the middle of summer, Atlantic City’s busiest time, so a decrease is not surprising. A 28 percent decrease, however, is slightly higher than the 26.6 percent decrease the industry suffered over the same period.
Compared with its first full month of operation, Ocean Resort is only seeing a 17 percent decrease in revenue. While declining revenue is never really good, Ocean Resort did perform slightly better than the industry average.
AC casino winners
That one casino that posted year-over-year growth mentioned above is (drumroll, please) Tropicana. Furthermore, this is Tropicana’s second-straight month of being the only casino to post an increase in its year-over-year numbers.
October’s growth was relatively small at only 2.1 percent, but growth is growth. For the month, Tropicana brought in $25.1 million compared with $24.6 million last year. The casino is again solidly in second place on the revenue leaderboard.
Borgata Hotel Casino is in the winner’s lounge because it continues to maintain its earnings dominance over the AC casino industry. The casino brought in $50.7 million, more than double that of Tropicana.
Borgata also posted one of the smallest year-over-year declines. Last year, it brought in $55.2 million, which represents an 8.1 percent decrease.
And then there’s the rest
The five remaining casinos fell somewhere in the middle of the pack. Some are higher on the list than others.
Resorts, along with Borgata, posted the smallest year-over-year decline of the casinos trending downward. Resorts better watch its back, though, as Ocean Resort is close to overtaking the property in the revenue battle.
Golden Nugget might be at the bottom of the pack regarding casino win, but its impressive online casino numbers often overshadow its retail figures. This month is no different as the NJ gambling site nears $10 million in online casino revenue, more than the next two revenue earners combined.
Harrah’s, Caesars, and Bally’s all posted double-digit, year-over-year revenue decline percentages. It is not a good look for Caesars Entertainment to have all three of its AC casinos giving up the most ground to the Boardwalk’s newest residents.
A breakdown of the AC casino win
|Casino||Table & Other||Poker||Slot Machines||Total Revenue|
|Hard Rock||$8,106,130||$ -||$15,142,610||$23,248,740|