Atlantic City casinos rebound after 2-month losing streak

Atlantic City casinos enjoyed a resurgence in November by snapping a two-month streak, according to the latest results published by the DGE (New Jersey Division of Gaming Enforcement).

In-person revenues climbed last month, with Atlantic City venues winning $223.9 million from slot machines and table games. This translated into a year-over-year gain of more than 4%, or an extra $9 million taken from players.

• Of the 9 resort casinos, 5 returned a better set of figures for November 2024 than they did for the same period last year.

• MGM Resorts’ Borgata played a leading role, amassing $57.5 million in gross gaming revenues (GGR), representing an 11% uptick.

• Hard Rock ranked second with a GGR of $44.3 million, up 7%, while Ocean saw their GGR pick up by 8% ($34 million) to snatch third spot.

Of the other significant gains reported:

• Golden Nugget saw GGR jump by 7% to $11.7 million.

• iGaming and sports betting in New Jersey also surpassed expectations.

• Online casino slots and table games hit $214 million, reflecting a 25% rise, while sportsbook revenue shot up by 24%.

New Jersey is primed to have a banner year.

• James Plousis, chair of New Jersey’s Casino Control Commission, claimed year-to-date GGR exceeded $5 billion for the second consecutive year.

• iGaming GGR hit new highs, passing $200 million for the third straight month.

• It is worth stressing that iGaming and in-person revenues are different, and online revenues are shared with third-party partners like DraftKings and FanDuel.

New Jersey’s gains have taken place against the backdrop of industry leaders using weak legacy play numbers in their battle to stop an ongoing legislative effort in Trenton to remove indoor smoking on Atlantic City’s casino floors.

With Christmas around the corner, New Jersey’s industry leaders can look back on an excellent 2024. That said, they can’t afford to rest on their laurels going into 2025.