The New Jersey Division of Gaming Enforcement has released the February revenue figures for the Atlantic City casino industry. For in-person gaming, the totals are up 43% when compared to the same month in 2021. The numbers are currently just below 2020 totals, as the city continues to work its way back to normal since the onset of the COVID-19 pandemic.
The nine casinos operating in Atlantic City earned just over $212 million in February. This is around 3% lower than the totals from two years ago. As people became less concerned with the virus, they were more likely to travel, which helped the land-based totals. The relaxing of protocols connected to the pandemic also helped to boost earnings.
Increase in Revenues
Each of the nine casinos in Atlantic City saw an increase in earnings for February 2022. The big earner was the Borgata, bringing in just over $94 million. This was a huge jump, almost 40% higher than 2019 February totals.
Second place went to Hard Rock, but the property was far behind Borgata, earning $44.7 million. This was a boost of more than 50%. Ocean Casino Resort was second, with just over $30 million. Both Ocean and Hard Rock have come a long way when it comes to earnings after opening in June 2018.
Tropicana came in fourth with $26 million and the remaining casinos all generated under $20 million for the month. The list includes Harrah’s Casino, Caesars, Resorts, Golden Nugget, and Bally’s.
Online Gaming and Sports Betting Totals
February online gaming and sports betting revenues were also at an increase. Online gaming from casinos generated $130 million. This was a boost of over 38%. Year to date, earnings come in at over $267 million, which is a solid 35.6% growth.
Sports betting is actually experiencing a low, earning over $30 million for the month. This amount is over 33% less when compared to the prior period when just over $46 million was earned. Year to date, the industry is seeing a decline in 2022 with only $91.1 million earnings. This is a drop of over 29%.
When combining the earnings of casinos, racetracks, and partners in Atlantic City, the total earnings come in a t$373.3 million. This is an increase of more than 29% when compared to the same month in 2021. Thus far in 2022, the industry has generated $755 million. This is an increase from the $634.4 million earned within the same time frame last year.
It will be interesting to see how the region progresses and if online casino and land-based gaming totals continue to increase throughout the year.