Atlantic City gaming revenue appears to be picking up nearly two years on COVID-19[female[feminine disrupted the casino industry.
Table games and slots revenues reported by AC Casinos last month were among the best Februarys in nearly a decade.
New Jersey’s online gambling produced one of the highest-grossing months ever. And, NJ sportsbooks has dodged any concerns that mobile sports betting in new York would dampen garden condition business.
February Total gambling revenue in 2022 – the sum of in-person, online and sports betting – was 38% higher than 2021 and almost 30% higher than 2020.
Overall, Atlantic City‘s gaming revenue results last month are encouraging.
“I’ve heard directly from casino executives and there’s palpable optimism across the city for a really good spring and summer,” NJ Chairman of the Casino Control Commission, James Plousis said in a statement.
Here are some key takeaways from the latest New Jersey gambling revenue report:
The truth about Atlantic City’s gambling revenue
The city’s nine casinos brought in a little more $212.4 million revenue from table games and slot machines in February, according to data released last week by NJ Division of Gaming Enforcement.
This figure is higher than 43% of the same period in 2021.
Last month was the second-highest February for land-based gambling revenue since 2012. Only the $218.3 million in February 2020 (a leap year) has been higher over the past decade.
But only two casinos report higher in-person gaming revenue in February 2022 than in 2020 or 2019.
Hard Rock Hotel & Casino Atlantic City was standing 77% from 2019 and 56% from 2020. Ocean Casino Resort was standing 116% three years ago and 43% from February 2020.
All seven other Atlantic City casinos recorded in-person revenue decline by 10.2% since 2019 and 16.3% since 2020.
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Online gambling shows no signs of stabilizing anytime soon
According to state gaming regulators, online gambling in NJ has generated $129.98 million in February.
It was the state’s third highest revenue-generating month from online gambling. January 2022 holds the record at $137.85 millionwith December 2021 $133.2 million just behind.
Year-over-year online gaming revenue increased 38.6% last month. Compared to February 2020 (the last full month before the COVID-19 shutdown in March 2020), online gambling revenue increased 150%.
Three online licensees – who are responsible for 13 Internet operators, or skins — account for more monthly revenue than two-thirds of physical properties in Atlantic City.
Hotel Borgata Casino & SpaThe Reported Online Skin Collection $37.8 million last month, which was more than eight of AC’s land-based casinos.
Beat the Books in Jersey, AC
New Jersey sportsbooks also had a good month in February, at least in terms of the amount of betting action they handled.
For the first time since September 2021 NJ sportsbooks failed to manage at least $1 billion in monthly bets. However, the pounds only missed the mark by a small margin.
NJ sports bettors shelled out more than $985.5 million on legal bets last month. Almost 91.3%Where $899.6 millionwere bets placed with an online or mobile bookmaker.
More … than $143.7 million bet on this year’s Super Bowl.
The total amount played with NJ sportsbooks is even more impressive considering the January launch of mobile sportsbooks in New York.
But it was the game’s audience that had the last laugh in February. The generated books $30.87 million last month, for an estimated hold percentage of just over 3%.
Sportsbooks associated with Atlantic City casinos (which include some online operators) reported $14.3 million in monthly income.