Atlantic City Casino Revenue Still Recovering in June 2021
Atlantic City casino revenue fell short of pre-pandemic performance in June even with most of New Jersey’s COVID-19 restrictions lifted. However, massive gains from sports betting and online gaming propelled the gaming industry to record-setting levels last month.
Atlantic City casino revenue from table games and slot machines was $214.5 million last month. Hard Rock Hotel & Casino Atlantic City reported $35.2 million in brick-and-mortar gambling revenue, up 16.74%. Ocean Casino Resort posted $23 million, which is up 13.76% from June 2019.
Hard Rock AC has shown market-leading growth despite the economic downturn in Atlantic City.
The elimination of Covid restrictions and the return to normalcy bode well for Atlantic City Casino. Glebocki introduced the casino floor enhancements at the end of June.
Hard Rock and Ocean casinos saw in-person gambling revenues decline. The other seven casinos also saw revenue decline between 10.9% and 29. 9%. Year-to-date, Atlantic City casino revenue from slots and table games is $1.11 billion.
Online gambling revenue in June was $107 million. It's the fifth month in 2021 where online gambling revenues eclipsed the $100-million mark. Sports betting revenue from AC casinos was 301% higher than 2020 and 491.3% from 2019.
The monthly report for land-based gambling revenue was disappointing. Industry experts are optimistic about the future of Atlantic City casinos. iGaming and sports betting revenues do not entirely land on the bottom line for AC casino operators.
Revenue share across different gaming products has substantially changed. Brick-and-mortar casino gaming revenue may no longer be as strong an indicator of a property’s performance as it once was.