A year ago, the casinos in Atlantic City were closed because of the coronavirus pandemic outbreak, and online gambling was the only option for individuals who once used to play land-based table games or slot machines. Now, a year later, even though the brick-and-mortar casinos have resumed operations and players are still returning to their old habits, the amount of money flow to online gambling operations continues to grow.
According to figures released by New Jersey’s Division of Gaming Enforcement, online gambling services accounted for over $108 million in May, with the figure representing an almost 26% increase from May 2020.
The director of a Stockton University-based gambling and tourism institute, Jane Bokunewicz, shared that she expected in-person gambling revenue to increase in the following months. According to Ms. Bokunewicz, brick-and-mortar casinos will continue to reclaim revenue share from gambling on the Internet during the summer months.
Reportedly, the Atlantic City casinos’ proceeds rose by over 290% to more than $374 million in May.
Positive Casino Market Momentum Registered after Reopening of Atlantic City Casinos
Due to the 3-and-a-half-month closures in 2020 because of the coronavirus pandemic, many executives of Atlantic City casinos are making a comparison between their current performance and the corresponding year in 2019, before the beginning of the Covid-19 crisis.
And the comparisons do not look bad at all. The chairman of the New Jersey Casino Control Commission, James Plousis, explained that the revenue of local casinos rose by over 26% from the one generated in May 2019. According to him, this market’s momentum gives land-based casinos in Atlantic City hope for a great summer.
The largest revenue increase was registered at the Ocean casino, with a more than 1,700% increase. In May 2021, the casino experienced the best month for its slot machine revenue in its entire history, generating almost $19.5 million. The casino’s overall revenue rose from almost $1.5 million last May to more than $27 million this year.
The CEO of the Ocean casino, Terry Glebocki, said that the changes that were being made, were obviously working. Ms. Glebocki cited a redesign of the casino floor with the addition of new pathways, a further expansion of the gaming floor by the addition of almost 250 new slot machines, as well as the debut of new gambling areas offering high limits for big spenders.
Another iconic casino in Atlantic City – Borgata – generated the largest winning, taking in $85.3 million. It was followed by the Hard Rock casino that managed to generate $41.6 million in May. The Tropicana casino won $26.4 million, while Caesars generated winnings worth $23.1 million. Harrah’s was the last of the Atlantic City casinos that hit the $20-million mark in May, scooping a total of $21.5 million.
The other three casinos in one of the largest gambling destinations in the US – Resorts, Golden Nugget and Bally’s all generated under $15 million in May – $14.9 million, $13.2 million and $12.6 million, respectively.
As mentioned above, the positive trend for online gambling operations in Atlantic City continues. Resorts Digital and Golden Nugget Online Gaming, both operating only on the Internet, won over $31 million each, while Caesars Interactive NJ generated $9.1 million in May.