The gambling operators in Atlantic City recorded another strong month in terms of gambling revenue, according to figures released by the Division of Gaming Enforcement. Total gaming revenue filed last month hit $427.7 million, which represents an increase of 31% when compared to August 2020.
Atlantic City Enjoys Revenue Growth in August
Despite the devastating impact of the pandemic last year, the gambling and hospitality industry in the US is already on its way to a slow recovery. Judging by figures released by the New Jersey Division of Gaming Enforcement (DGE), the revenue of the gambling industry skyrocketed in August 2021. Filings with the regulator revealed that the three horse race tracks and the nine casinos hit $427.7 million in total gaming revenue in August. In a year-on-year comparison, this marked a significant 31% increase, considering that revenue in August 2020 halted at $327.3 million.
A breakdown of the $427.7 million in total revenue shows that the casino win in August hit $262.4 million. This marked yet another significant increase when compared to August 2020, when the casino win reached $199.1 million. On the other hand, the internet gaming win in August this year hit $113.2 million. Compared to August 2020, we see yet another increase of 29%. From the total gaming revenue in August, sports wagering operations contributed $52.0 million.
Year-to-Date Results in August Are Also Good
Looking at year-to-date results, there was a significant increase in gaming revenue. Here, it’s important to mention that in 2020, due to the global COVID-19 pandemic, gambling venues were closed for nearly three months. Once allowed to reopen in June, the venues had implemented capacity limits, among other restrictions, which undoubtedly impacted Atlantic City’s revenue in 2020. The DGE did acknowledge that due to this, year-to-date results for the period that ended August 2021 are not “directly comparable to 2020.“
On the bright side, according to the DGE, year-to-date results in terms of total revenue have skyrocketed. Total gambling revenue hit $2.99 billion when, for the same period last year, it halted at $1.62 billion. This marks a significant increase of some 84.8%. Year-to-date internet gaming win increased by 44.8%, reaching $866.1 million compared to the same period in 2020. Casino win for the period hit $1.65 billion, while sports wagering gross revenue hit $475.3 million.
August Was a Strong Month for the Casinos in Atlantic City
Resorts Casino’s total gaming revenue last month hit $18.7 million. This marked a 35% increase compared to August 2020, when the venue’s total revenue halted at $13.8 million.
A similar increase in total revenue in August was observed by Hard Rock Casino in Atlantic City. The venue’s total gaming revenue increased to $52.5 million, up 33% from the $39.5 million for the same month last year.
On the other hand, a staggering 70% increase in revenue was observed by Golden Nugget. The venue’s total gaming revenue hit $15.9 million last month, while for the same period last year, it halted at $9.3 million.
Tropicana is another venue that has seen a spike in total gaming revenue last month. The venue’s total gaming revenue hit $38.1 million in August, up 43.6% from the $26.5 million for the same period last year.
August 2021 was a strong month for Borgata, as well. The Borgata total gaming revenue hit $94 million. This marked an increase of 31.1% from the $64.8 million in total gaming revenue from August 2020.