Atlantic City depends heavily on its casino industry and suffered significant financial loss in 2020 due to the shutdown of the casino industry over the COVID-19 pandemic.
Things are looking up for Atlantic City casinos as they are in recovery mode and things are going the right way for them financially based on the recent numbers.
The New Jersey Division of Gaming Enforcement (NJDGE) that the three racetracks and nine casinos in Atlantic City brought in $427.6 million in August 2021 when compared to the $326.3 million that was registered in August 2020.
These numbers are good as August was the first full month that Atlantic City casinos were able to operate normally since the 3.5 month lockdown. The report showed that retail gambling revenue brought in $262.4 million which was more than a 31 percent increase from August 2020 while online gambling revenue went up to $113.2 million which was a 29 percent increase year on year.
Sports betting numbers also went up by 32 percent year on year as August saw a total of $52 million come in. Sports betting numbers are expected to increase further in the coming months with the 2021 NFL season underway.
August could have been even better for New Jersey casinos if their hotels operated at full capacity. James Plousis, who heads the New Jersey Casino Control Commission said hotels in Atlantic City were restricted due to a number of reasons but by partially opening, they were able to rebuild customer confidence.
All Nine Casinos Report Positive Increase
Golden Nugget had the best numbers bringing in $15.8 million in August which was a 70 percent increase year on year. Tropicana recorded a 44 percent increase bringing in $38 million while Resorts saw a 35 percent increase bringing in $18.6 million. Hard Rock saw a 33 percent increase which brought in $52.4 million.
Joe Lupo, President for Hard Rock said that while it the overall numbers for Atlantic City was a good sign, the market was still 8.4 percent down when compared to pre-pandemic period in August 2019. Lupo said the dip was due to the impact from COVID-19 and indicated that gaming operators must continue to work together to boost revenues and help Atlantic City.
In the online gaming space, Resorts Digital recorded a 24 percent increase to $34.5 million, Golden Nugget Online Gaming went up by 8 percent to bring in $30 million and Caesars Interactive NJ registered a 7 percent increase bringing in close to $10 million.
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