Figures from New Jersey Division of Gaming Enforcement
The Garden State is still showing great success despite the lukewarm foot traffic in Atlantic City. The reported number from the New Jersey Division of Gaming Enforcement (NJDGE) shows an overall revenue increase across the combined assets. Where the industry as a whole grew 15.3% in January. Which, if translated into a money value, comes in on a healthy $346.4 Million. Plus, as earlier reported, operators that put the focus on either online or native app presence are the big winners. And the news that sports betting revenues are producing record numbers. More precisely, roughly 90% of its traffic comes via an app platform should not trigger any “what?” moments. But, let’s instead direct the energy to who of the 9 properties in Atlantic City that does everything right.
Borgata a league of its own
For the month of January, let’s switch things up and concentrate on the growth displayed by money value. To no surprise, we find the top-dog Borgata with $38.3 Million. In comparison, the second place holder Hard Rock falls short with quite a lot and land on revenue in January of $26.6 Million. The last podium place does not offer up any real aha moments either with the well-known Ocean Casino Resort and its reported $20.5 Million. Now, for the remaining positions, we find Tropicana ($15.6 M), Caesars ($15.5 M), and Harrah’s ($14.7 M). Where the last money earners are Resorts ($10.4 M), Golden Nugget on an even $10 Million. Followed by the basement position held by Bally’s and it’s still more than decent January revenue of $8.6 Million.
No signs of normality
As of now, the number does support somewhat ok growth and revenue. However, the struggle is still present when it comes to the brick and mortar establishments in Atlantic City. And we are still far from the projected growth that surfaced before the word hit the pause button. Yet, what the numbers show us is that Atlantic City and even more so that New Jersey knows how to face problems head-on and maintain a lucrative business model. And to be frank, we can’t wait to see what the City can do when things return to a normal state.