{"id":330726,"date":"2024-09-16T16:03:30","date_gmt":"2024-09-16T21:03:30","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=330726"},"modified":"2024-09-17T09:41:17","modified_gmt":"2024-09-17T14:41:17","slug":"atlantic-city-casinos-heat-up-in-august-gaming-win-climbs","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/atlantic-city-casinos-heat-up-in-august-gaming-win-climbs\/","title":{"rendered":"Atlantic City Casinos Heat Up in August as Gaming Win Climbs Nearly Five Percent"},"content":{"rendered":"

Atlantic City casinos needed a little bit of luck to cap off the unofficial end<\/a> to summer, and August delivered for the gaming properties down the shore.<\/span><\/p>\n

\"Atlantic
The Atlantic City casino skyline is seen from the Atlantic City Expressway. Atlantic City casinos enjoyed a strong August after a disappointing June and July. (Image: Shutterstock)<\/figcaption><\/figure>\n

The New Jersey Division of Gaming Enforcement (DGE) revealed Monday that the nine Atlantic City casinos combined to win $294 million on their physical gaming floors<\/a> in August. That’s a 4.9% year-over-year improvement, or about a $13.7 million increase.<\/span><\/p>\n

Slot win climbed 5.3% to $221.6 million while tables won $72.4 million, a 3.8% increase. James Plousis, chair of the New Jersey Casino Control Commission, which oversees the DGE, said last month was the casinos’ best August in over a decade.<\/span><\/p>\n

\n

Monthly casino win finished the summer well, achieving its best August result in 10 years. Year-to-date casino win was relatively flat compared to last year, but it was still the second-best result in 11 years,” Plousis told Casino.org<\/i>.<\/span><\/p>\n<\/blockquote>\n

Through eight months, 2024 brick-and-mortar casino gaming revenue totaled more than $1.92 billion, a 0.2% decline from the same period in 2023. Both slot win ($1.42 billion) and table revenue ($495.2 million) were 0.2% lower.<\/span><\/p>\n

iGaming, Sports Betting Growth<\/b><\/span><\/h2>\n

In-person casino gambling was flat through three quarters of 2024, but that wasn’t the case for online slots, interactive table games, and sports betting.<\/span><\/p>\n

New Jersey’s iGaming sector continues to blossom, with internet gross gaming revenue (GGR) totaling more than $1.52 billion through eight months. The online win represents a 22.7% surge from 2023.<\/span><\/p>\n

\n

Oddsmakers also continue to grow their businesses. Despite a poor hold rate in August where oddsmakers kept just $62.7 million of the $698.8 million bet, down $33.3 million from August 2023, sportsbook revenue through eight months was $715.8 million. That’s almost 20% higher, or $117.9 million more, than the same period a year ago.<\/span><\/p>\n<\/div>\n

iGaming and sports betting were responsible for the state gaming industry expanding by 10.5% from January through August. 2024 marks the fastest that New Jersey GGR has eclipsed the $4 billion mark.<\/span><\/p>\n

\n

Overall business in Atlantic City remains stable, with operators gaining competitive advantage from a unique combination of impressive gaming options and first class in-person experiences. There is great opportunity for continued momentum in the fall season,” Plousis concluded.<\/span><\/p>\n<\/blockquote>\n

Casino reps argue that the industry remains troubled<\/a> as inflation and overall higher operating costs eat into their bottom lines. The DGE disclosed second-quarter reports last month that revealed that profits declined almost 2%<\/a> despite a 1.3% increase in revenue.<\/span><\/p>\n

iGaming Record<\/b><\/span><\/h2>\n

Online gamblers lost more money in August than they had in any month before, as the $198.3 million in iGaming GGR marks a new monthly record.<\/span><\/p>\n

Internet slots and tables generated online win of $195.8 million. Online poker rake generated almost $2.4 million.<\/span><\/p>\n

\n

With most of the $62.7 million in sportsbook revenue derived from online operations, New Jersey’s online gaming industry is nearing monthly revenue generated at the nine physical casinos<\/a>. The DGE’s sports betting breakdown showed that, of the $62.7 million won by oddsmakers last month, more than $57.7 million was generated online.<\/span><\/p>\n<\/div>\n

That brings total online gaming revenue in August 2024 to approximately $256 million, or $43 million less than what the physical casinos won.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Atlantic City casinos enjoyed a strong August.<\/p>\n","protected":false},"author":25,"featured_media":330730,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[81885,62],"tags":[25,82124,85044,81871,81931,26,81872,80968],"acf":[],"yoast_head":"\nAtlantic City Casinos Heat Up in August, as Gaming Win Climbs<\/title>\n<meta name=\"description\" content=\"Atlantic City casinos needed a little bit of luck to cap off the unofficial end to summer. 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