“The success of online gaming and sports wagering continues to provide competitive advantage to operators even during Atlantic City’s traditional off-season,” according to New Jersey Casino Control Commissioner James Plousis.
In fact, total gaming revenue surged to kick off 2024. Plousis’ remarks accompanied the Feb. 16 release of January 2024 gaming numbers by the state Division of Gaming Enforcement (DGE).
Atlantic City’s nine casinos reported TGR of $444.7 million — a 15% jump from last January. When you include the casinos, racetracks and their partners, TGR is $559.1 million – a 28% increase from January 2023.
“Despite harsher weather than 2023, January 2024 returned a greater than 15% increase in total gaming revenue for Atlantic City’s casino operators,” 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 gaming report. “The majority of this gain came from off-site operations with both internet gaming and sports betting turning in record single-month returns.”
January 2024 | notable numbers
- Internet gaming win was $183.3 million – a 19.9% increase over last January
- Sports wagering handle was $1.7 billion with a gross revenue of $170.8 million – a 136.1% increase over last January
- Casino win of $205 million – a 3.1% decrease from last January
The top three performing properties for casino win were:
- Borgata – $57.6 million
- Hard Rock – $37.3 million
- Ocean Casino – $33.1 million
Record-setting
“Internet gaming win set a new monthly record, which along with strong sports wagering revenue, helped Atlantic City’s total gaming revenue achieve its highest level for the month of January since 2006,” said Plousis. “Although casino win was lower compared to the same month last year, it was the second-best January result in 11 years.”
“Seasonal weather typically impacts the industry and that contributed in January 2024 to brick-and-mortar returns that were 3% less than 2023 when the weather was milder,” Bokunewicz explained. “It’s likely that brick-and-mortar activity was diverted to online channels boosting the internet gaming and online sports betting totals. The return of fairer weather will likely lead to better year-over-year gains for Atlantic City’s brick-and-mortar casino operations.”
“The operators have invested millions of dollars adding attractions and amenities, as well as enhancing their world-class hotels, to create memorable in-person experiences for the upcoming tourism season,” said Plousis.
Big gamebets
The state Division of Gaming Enforcement announced preliminary wagering figures from Feb. 11’s Super Bowl LVIII, with New Jersey sportsbooks reporting a win of nearly $8.5 million. Click here to read the full story.
Tyler Fields is your internet guru, delving into the latest trends, developments, and issues shaping the online world. With a focus on internet culture, cybersecurity, and emerging technologies, Tyler keeps readers informed about the dynamic landscape of the internet and its impact on our digital lives.
