AC casinos set internet gaming record in monster March
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“Peak season may be starting early for Atlantic City as casino operators ended March with in-person and online gaming revenues at levels last seen in September 2023,” said Jane Bokunewicz, faculty director of the Lloyd D. Levenson Institute of Gaming, Hospitality, and Tourism (LIGHT), Stockton University School of Business, in her analysis of the state’s March 2024 gaming numbers.
Released April 16 by the New Jersey Division of Gaming Enforcement (DGE), the report showed robust numbers on several gaming fronts.
“Total gross gaming set a new near-term high for March monthly revenue, and brick-and-mortar revenues for the month increased nearly 5% over March 2023 and were the best seen for any March since 2012,” Bokunewicz explained.
“Atlantic City’s total gaming revenue grew solidly in March, with year-over-year increases both online and on the casino floor,” noted New Jersey Casino Control Commission Chairman James Plousis in his remarks following the release of the DGE report. “Internet gaming win set a monthly record and eclipsed half a billion dollars sooner than any other year since inception.”
“Internet gaming likely indirectly benefitted from increased online gaming activity around the ‘March Madness’ of the Men’s and Women’s NCAA Basketball Championship Tournaments as patrons may have sampled online casino offerings while waiting for the results of the games,” said Bokunewicz.
Key topline numbers of the March gaming report include:
- $526.6 million – total gaming revenue reported by casinos, racetracks, and their partners; up 8.1% from March 2023
- $468.1 million – total gaming revenue by just Atlantic City entities (and no racetracks); up 6.1% from March 2023
- $239.8 million – total casino win for the nine properties; up 4.9% from March 2023
- $197.2 million – internet gaming; up 19% from March 2023
- $1.3 billion – sports betting handle; versus $1.03 billion in March 2023
- $89.7 million – sports wagering gross revenue; down 3.6% from March 2023
The top performing casino properties were:
- Borgata – $56.5 million; down 8.1% year-over-year
- Hard Rock – $44.4 million; up 11% year-over-year
- Ocean Casino – $40.7 million; up 17.6% year-over-year
“While gross operating profit continues to be a tough nut to crack, as evidenced by the recently released year-end 2023 reports, total gross gaming revenues for 2024 are off to a solid start with revenue for Atlantic City operators surpassing year-to-date 2023 by 11%,” said Bokunewicz.
“Casino win results remained stable – Atlantic City enjoyed its best March result in 12 years,” said Plousis. “The casino hotels have been busy adding excellent amenities and memorable in-person experiences that create synergy between online and traditional gaming. Online gamers have unique opportunities to enjoy the diverse experiences of a destination resort in Atlantic City.”
As sports betting and internet gaming continue growing rapidly in New Jersey and around the country, efforts to promote safe and responsible gambling and integrity are ratcheting up.
