5 takeaways from July’s Atlantic City casino income record

5 takeaways from July’s Atlantic City casino revenue document


Ocean Casino Resort’s July casino revenue numbers are the first month of reports on the grounds that the casinos reopened because of COVID-19.

Ocean had a good month. It was the only casino in the city to file a year-over-year augment in casino win.
Edward Lea / Staff Photographer
ATLANTIC CITY — The impact of the coronavirus on the city’s nine casinos was evident in the marketplace’s July report published Wednesday as complete gaming earnings turned into down more than 23% compared to 2019.Capacity restrictions, client issues and prohibitions against indoor dining, smoking and alcoholic beverage provider on the gaming ground all played a role in mentioned year-over-year sales that were more than $74.5 million lower. Additionally, the absence of the industry’s highest-performing assets — Borgata Hotel Casino & Spa — for all nevertheless nine days in July contributed to the shrink.Here are five takeaways from July’s Atlantic City casino income file:1.

Volume become down: Casino operators look at more than simply income and profit to degree achievement or name possibilities to improve. One such metric is slot drop, or the amount of cash clients positioned into machines. Slot drop is a key indicator of business quantity on a casino ground.July’s slot drop for eight of the nine casinos become down, with Ocean Casino Resort (+2.6%, +$4.2 million) being the lone exception. The other properties that were open for the majority of July all pronounced decreases in slot drop of anywhere between 55% and 24%.

Borgata’s slot drop became down more than 86%, in spite of this the belongings turned into only open for a little more than a week.Golden Nugget Atlantic City (-55.4%, -$86 million) and Tropicana Atlantic City (-42.4%, -$100.7 million) experienced the biggest declines in percent and real dollars, respectively, but even so Borgata (-$502.8 million).2.

Hard Rock and Ocean are specific gamers in the marketplace: The two newest entrants into Atlantic City (both casinos opened June 2018) were the greatest beneficiaries of Borgata’s self-imposed not on time reopening. Hard Rock Hotel & Casino Atlantic City and Ocean complete first and second, respectively, in the industry in casino win, or income generated from table games and slots.Hard Rock’s placing in the marketplace final month is of little surprise. The assets turned into second in July 2019 in casino win, in the back of best Borgata, and has always been forward of the other seven casinos. While July’s stated $24.6 million casino win has a reduce of 36.5% as compared to 2019, Hard Rock reported increased revenue from online casino and sports betting.Ocean — commonly the field of unfounded last rumors — became the maximum effective casino in the town to report a year-over-year augment in casino win last month. Ocean’s stated $23.6 million in table games and slot earnings turned into an augment of 23.1% over 2019.

Ocean also posted an augment in total gaming income — casino win, internet gaming and sports betting mixed — of 30.3% final month.3. Borgata has no rival in Atlantic City: Month after month, year after year, Borgata demonstrates its market dominance in Atlantic City. And, even with truncated effects in July, the Marina District casino showed its superiority.In nine days, simplest six of which were open to the common public, Borgata outperformed four of its competition — Bally’s Atlantic City, Harrah’s Resort Atlantic City, Ocean and Tropicana Atlantic City — in complete gaming earnings with a suggested $26.6 million.Borgata’s online gaming revenue ($15.3 million) changed into 3rd in the market, behind only Golden Nugget Atlantic City (always first) and Resorts Casino Hotel. Borgata became also second in the marketplace in said sports having a bet income ($2.9 million), trailing most effective Resorts and online/mobile partner DraftKings.4. Internet gaming maintains to grow: For the fourth consecutive month, web gaming greater more than 100% in July.The boom of web gaming during the mandatory market shutdown turned into expected and the earnings helped cash-starved operators throughout the three-and-a-half month stretch. But, the suggested $87.5 million in online gaming revenue last month turned into a 122.5% increase over the comparable month in 2019.The three highest online income generating casino homes — Golden Nugget, Resorts and Borgata — all published information superhighway numbers that were greater than their brick-and-mortar earnings. Even Hard Rock, which has struggled to discover its footing in the online arena against more established competitors, published a 194.7% augment in July. Likewise, Ocean pronounced a 217.3% increase in online gaming earnings final month.Year-to-date, internet gaming revenues are up 98.7% over the first seven months in 2019.

Year-to-date cyber web gaming income is $510 million.5. Sports betting: Prior to the pandemic’s impact on gaming and sports, New Jersey changed into troublesome Nevada — the handiest state to be offering single-game wagering till 2018 — for bragging rights as the sports making a bet capital of the United States.Sports gamblers placed down more than $315 million in legal wagers in New Jersey final month, according to the state Division of Gaming Enforcement. The figure comprises the eight sportsbooks in Atlantic City casinos, the two amenities at the state’s racetracks and more than a dozen online/mobile operators.Atlantic City’s casinos and their partners generated more than $13.76 million in earnings from sports making a bet in July, an augment of 101.8% over final year.Through July, sports wagering has generated $60.4 million for Atlantic City casinos and more than $138 million statewide.Contact: 609-272-7222 Twitter @ACPressDanzis
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Ocean Casino Resort’s July casino earnings numbers are the first month of reports seeing that the casinos reopened because of COVID-19.

Ocean had a good month. It become the maximum effective casino in the town to record a year-over-year increase in casino win.