Atlantic Metropolis Casinos Win $262.4M in August, Down Eight P.c
Posted on: September 16, 2021, 12:58h.
Final up to date on: September 16, 2021, 03:14h.
Atlantic Metropolis casinos gained $262.4 million on their 9 brick-and-mortar gaming flooring final month.
August gross gaming income (GGR) from retail slot machines totaled a little bit greater than $198 million, with desk video games accounting for simply shy of $64.4 million. The land-based whole win is a 5.3 p.c slide from July and is down 8.4 p.c from pre-pandemic August 2019.
Nevertheless, when sports activities betting and iGaming are included, Atlantic Metropolis’s 9 casinos reported a GGR of $397.6 million. That’s $58.8 million higher than the $338.8 million the casinos gained from all gaming verticals in August of 2019.
Atlantic Metropolis’s whole gaming income rose greater than 17 p.c in comparison with pre-pandemic August 2019,” stated James Plousis, chairman of the New Jersey On line casino Management Fee, in an announcement to On line casino.org.
The casinos’ $397.6 million balloons to over $427.6 million when sports activities betting from the state’s three horse racetracks sportsbooks — and their cell operations — are included. In consequence, whole statewide GGR grew 31 p.c year-over-year, and 21.2 p.c from August 2019.
State Gaming Future
COVID-19 resulted in conventional Atlantic Metropolis gamblers migrating on-line to web casinos. New Jersey’s gaming business benefited in the course of the pandemic as a result of it was solely one in all three states that had full iGaming in 2020, together with interactive slot machines and desk video games.
On-line GGR flourished in the course of the well being disaster. And whereas iGaming income for Atlantic Metropolis’s 9 licensed casinos isn’t almost as worthwhile as income incurred on the shore, it nonetheless helped offset among the brick-and-mortar losses.
COVID-19 continues to solid uncertainty on numerous markets, two main ones being hospitality and tourism. New Jersey’s strong gaming business appears to be discovering a brand new norm, and that new norm includes iGaming income persevering with to develop.
“August’s outcomes offered worthwhile perception into the trajectory of whole gaming income following final yr’s pandemic,” Plousis defined.
Slots and desk income final month was $24 million lower than in August 2019. Conversely, web gaming income climbed 175 p.c from $41.1 million in August 2019 to $113.2 million final month.
Plousis believes casinos can nonetheless carry again gamers to 2019 ranges. The chief gaming regulator, together with the state On line casino Affiliation of New Jersey, hopes a busy leisure and conference calendar this fall and winter retains the city bustling.
“Vacationers welcomed the chance to return to Atlantic Metropolis in the course of the summer season months. The casinos have a chance to proceed constructing on that success and profit from client curiosity in Atlantic Metropolis’s many choices going into the autumn season,” Plousis declared.
Atlantic Metropolis casinos reported gross working earnings of $185.1 million within the second quarter. Observers credited the resorts for streamlining their operations and decreasing overhead as causes for the affluent three-month interval.
Regardless of the cooler months setting in, Atlantic Metropolis casinos are trying to find certified candidates to carry again to work. It hasn’t been straightforward. The Press of Atlantic Metropolis reported not too long ago that Borgata and Arduous Rock are two of the on line casino resorts searching for workers.
“We’ve been in search of individuals all summer season lengthy,” stated Arduous Rock President Joe Lupo. “We’re a robust fall forward with conventions and stay leisure, so we’re seeking to proceed offering some jobs to the area people.”