{"id":290001,"date":"2023-09-17T09:30:51","date_gmt":"2023-09-17T14:30:51","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=290001"},"modified":"2023-09-18T15:44:21","modified_gmt":"2023-09-18T20:44:21","slug":"atlantic-city-casinos-heat-up-august-gaming-win-totals-280-2m","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/atlantic-city-casinos-heat-up-august-gaming-win-totals-280-2m\/","title":{"rendered":"Atlantic City Casinos Heat Up, August Gaming Win Totals $280.2M"},"content":{"rendered":"

Atlantic City casinos reversed course in August after a disappointing July<\/a>\u00a0when gross gaming revenue (GGR) fell more than 13%.<\/p>\n

\"Atlantic
The Atlantic City Boardwalk. Casinos in town increased their retail gaming revenue in August 2023, as legacy gaming down the shore from slots and tables won $280.2 million for the nine resorts. (Image: Twitter)<\/figcaption><\/figure>\n

August win turned back to black after the nine brick-and-mortar casinos won $210.5 million on their slot machines and $69.7 million on their tables. The combined haul of approximately $280.2 million was a 2.3% year-over-year gain.<\/p>\n

Slots fueled the rally as terminal hold climbed 3%. Felt income was flat from August 2022.<\/p>\n

The $280.2 million in land-based GGR is the second-highest retail mark for any August in the past nine years. The $210.5 million from slots was the highest mark for an August since 2013.<\/strong><\/p>\n

iGaming continued its growth last month, with interactive games winning $155.2 million from remote players. That’s 18% better than a year ago.<\/p>\n

Oddsmakers also fared well, as the books kept $96 million of the $725.9 million in bets wagered. The sports betting income was 47% richer than in August 2022.<\/p>\n

Gaming Growing<\/b><\/h2>\n

New Jersey’s gaming industry, one of the three richest along with Nevada and Pennsylvania, continues to see GGR increase.<\/p>\n

The roughly $531.6 million generated by the Atlantic City casinos, iGaming platforms, and sportsbooks was a nearly 13% increase on August 2022. The $531.6 million represented the state gaming industry’s second-all-time highest GGR monthly mark.<\/p>\n

\n

Atlantic City’s total gaming revenue in August exceeded $500 million for only the second time in history and is on pace for a very strong year,”<\/strong> said a statement James Plousis, chair of the New Jersey Casino Control Commission.<\/p>\n<\/blockquote>\n

The summer season<\/a> was busy for the state’s gaming interests. The $1.49 billion won during June<\/a> through August represented a 10.5% surge in summer 2022 when statewide GGR totaled $1.35 billion. The increase is a difference of about $142 million.<\/p>\n

“Comparing Atlantic City’s results from the three summer months to prior years, this summer’s casino win and total gaming revenue both reached their highest levels in a decade. While results from some operators were mixed, overall, the summer has been encouraging for Atlantic City and the region,” Plousis concluded.<\/p>\n

Profits Plummeting<\/b><\/h2>\n

Though gaming revenue keeps climbing, with statewide GGR year to date up more than 11% to $3.7 billion, the Atlantic City casinos say the state’s media comments promoting the health of the industry are somewhat disingenuous<\/a>.<\/p>\n

Executives at the nine casinos say since they share a considerable portion of their monthly iGaming and sports betting revenues with third-party partners like DraftKings and FanDuel, the monthly revenue reports don’t necessarily relay how their businesses are performing.<\/p>\n

While GGR is up more than 11%, brick-and-mortar from January through August is up only 2.3% compared with the same eight months in 2022. Meanwhile, inflation and higher labor costs have severely impacted their bottom lines.<\/strong><\/p>\n

The casinos last month revealed that their first-half 2023 profit margins declined 18%<\/a> to $281.4 million, despite net revenue climbing 1.5% to nearly $1.6 billion. Net revenue includes income from gaming, hotel rooms, and food and beverage sales.<\/p>\n","protected":false},"excerpt":{"rendered":"

Atlantic City casinos generated $280.2 million on their retail slots and table games during August 2023.<\/p>\n","protected":false},"author":25,"featured_media":290007,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[81885,62],"tags":[25,13598,82124,85044,81871,26,80968],"acf":[],"yoast_head":"\nAtlantic City Casinos Heat Up, August Gaming Win Totals $280.2M<\/title>\n<meta name=\"description\" content=\"Atlantic City casinos reversed course in August after a disappointing July where gross gaming revenue (GGR) fell more than 13%.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/atlantic-city-casinos-heat-up-august-gaming-win-totals-280-2m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Atlantic City Casinos Heat Up, August Gaming Win Totals $280.2M\" \/>\n<meta property=\"og:description\" content=\"Atlantic City casinos reversed course in August after a disappointing July where gross gaming revenue (GGR) fell more than 13%.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/atlantic-city-casinos-heat-up-august-gaming-win-totals-280-2m\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-17T14:30:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-18T20:44:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/09\/F23KgJ9XAAA8_M6.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"799\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Devin O'Connor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CasinoorgDevinO\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Devin O'Connor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-casinos-heat-up-august-gaming-win-totals-280-2m\/\",\"url\":\"https:\/\/www.casino.org\/news\/atlantic-city-casinos-heat-up-august-gaming-win-totals-280-2m\/\",\"name\":\"Atlantic City Casinos Heat Up, August Gaming Win Totals $280.2M\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-casinos-heat-up-august-gaming-win-totals-280-2m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-casinos-heat-up-august-gaming-win-totals-280-2m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/09\/F23KgJ9XAAA8_M6.jpg\",\"datePublished\":\"2023-09-17T14:30:51+00:00\",\"dateModified\":\"2023-09-18T20:44:21+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf\"},\"description\":\"Atlantic City casinos reversed course in August after a disappointing July where gross gaming revenue (GGR) fell more than 13%.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-casinos-heat-up-august-gaming-win-totals-280-2m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/atlantic-city-casinos-heat-up-august-gaming-win-totals-280-2m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/atlantic-city-casinos-heat-up-august-gaming-win-totals-280-2m\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/09\/F23KgJ9XAAA8_M6.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/09\/F23KgJ9XAAA8_M6.jpg\",\"width\":1200,\"height\":799,\"caption\":\"The Atlantic City Boardwalk. 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