Atlantic City's Casinos Exhibit Recovery in June, Aggregate Retail Winnings Amount to $241 Million
During the busy summer season in June, Atlantic City's casinos had a promising start earning over $241.5 million. This is a five percent increase compared to the same time last year when they won around $229.1 million. June also showed a six percent increase compared to May.
The slots accounted for almost $183 million of the total win, which is a seven percent rise over June 2022. The table games win increased by approximately one percent to $58.5 million.
Borgata led the pack in retail market GGR with a staggering $60.5 million. The MGM Resorts property underwent a nearly 12% year-over-year boost. Hard Rock stood in second place after earning $43.3 million, a three percent reduction compared to June 2022.
June GGR Ranking
- Borgata - $60.5M
- Hard Rock - $43.3M
- Ocean - $34.9M
- Caesars - $21.4M
- Tropicana - $21M
- Harrah’s - $20.9M
- Resorts - $15.2M
- Golden Nugget - $11.8M
- Bally’s - $12.4M
All-Round Growth
The rise in in-person GGR in June went hand-in-hand with the continuous growth of iGaming.
Online earnings from slots, table games, and poker rake reached $149.3 million, a 12% increase, or roughly $16.1 million, compared to June 2022.
Sportsbooks also experienced a notable win in June, raking in more than $66.3 million from bettors, rising by 69% compared to last year. Bettors wagered around $591 million, with the sportsbooks winning more than 11% of this amount.
The total GGR from all verticals for June was over $457.2 million, a 14% jump from the previous year. This win is the most significant in June for the last 11 years and the fourth consecutive month that the overall gaming revenue surpassed $400 million in New Jersey.
James Plousis, whose role is the Chair of the New Jersey Casino Control Commission, believes that the collaboration between online and in-person operations is improving the industry. He's convinced that Atlantic City's casinos are also attracting new visitors by diversifying the resort town.
“Atlantic City's casino hotels are creating synergy between online and traditional gaming by offering customers a variety of gaming experiences at a destination resort. The growth in all three reported areas - casino win, internet gaming win, and sports wagering revenue - demonstrates the success of online and traditional gaming together.”
Solid First Half
In the first half of 2023, brick-and-mortar casinos made over $1.35 billion in earnings. This is around $45.5 million more than their 2022 earnings at the same time.
Online gaming has also thrived this year, with internet casinos winning $930.8 million from players. This is a 14% increase from last year.
Sportsbooks have enjoyed an incredibly successful year as they won $440.8 million off bettors, up by a whopping 43% compared to 2022. Since January, they've taken more than $5.1 billion in bets.
Apart from the Philadelphia Eagles’ loss in the Super Bowl and the Philadelphia 76ers' exit in the Eastern Conference semifinals, New Jersey sportsbooks have derived significant profits this year. (Image: Resorts Atlantic City)
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Source: www.casino.org
