January 2023
In LIGHT of the data.
January is historically the lowest gross gaming revenue (GGR) generating month for Atlantic City’s casino operators. Even with off-property online gaming and sports betting included, operators usually see their lowest GGR in the first month of the year.
If 2023 follows historical trends and January is the lowest month of the year, then this month’s results are quite encouraging. January 2023 ($385.4 million) beat out both January 2022 ($340.1 million) and 2021 ($295.5 million) to set a new near-term record for January monthly total GGR. A raised low-water mark to start the year off indicates that chances are good for year over year increases in GGR going forward.
Even considering only brick & mortar GGR, Atlantic City’s casino operators have reason to be hopeful. Brick and Mortar GGR for the month ($211.7 million) surpassed the pre-pandemic high set in January 2020 ($192.1 million) and approached January monthly revenues not seen since 2012 ($245.9 million) and 2011 ($255.4 million), when there were more Atlantic City casinos in operation, and no sports wagering or online gaming.
While far too early to call, continued strong performance in brick & mortar GGR could be an indicator that operators’ recent, and ongoing, investment in both the Atlantic City gaming and nongaming product is working – allowing the resort to effectively compete in an increasingly crowded tri-state gaming market, and amid inflationary pressures and economic concerns.
Atlantic City Gaming Win & Total Casino Revenue
Source: N.J. Division of Gaming Enforcement
| Monthly Revenue (Casino Licensees, $ In Millions |
January 2023 |
% Change from Prior Year | January 2022 | YTD
January 2023 |
% Change from Prior Year | YTD January 2022 |
|---|---|---|---|---|---|---|
| Total Gaming Win (includes Internet & Sports Wagering) | 385,365 | 13.3% | 340,111 | 385,365 | 13.3% | 340,111 |
| Sports Wagering Revenue | 20,823 | 11.8% | 18,620 | 20,823 | 11.8% | 18,620 |
| Internet Gaming Win | 152,867 | 10.9% | 137,850 | 152,867 | 10.9% | 137,850 |
| Casino Gaming Win | 211,675 | 15.3% | 183,642 | 211,675 | 15.3% | 183,642 |
| Quarterly Revenue (Industry, $ In Thousands)** | Q3 2022 | % Change from Prior Year | Q3 2021 | YTD September 30, 2022 | % Change from Prior Year | YTD September 30, 2021 |
|---|---|---|---|---|---|---|
| Casino | $469.19 | -7.3% | $505.87 | 1,368.67 | 3.0% | 1,328.80 |
| Rooms | $261.87 | 6.1% | $246.86 | $554.21 | 14.8% | $482.56 |
| Food & Beverage | $160.59 | 13.1% | $142.03 | $396.07 | 33.5% | $296.68 |
| Entertainment & Other | $88.49 | 20.8% | $73.27 | $209.76 | 38.5% | $151.41 |
| Casino Licensees Total Revenue | $980.14 | 1.3% | $968.03 | $2,528.71 | 11.9% | $2,259.45 |
** Data agregated from New Jersey Division of Gaming Enforcement Quarterly Financial Reports for individual properties, includes amended totals as of August 22, 2022. May not match totals from Quarterly Press Releases and Statistical Summaries, which represent a 'snapshot' of data at the time of publication and are not retroactively updated.
Atlantic City Hotel Lodging
Source: N.J. Division of Gaming Enforcement
| Casino Hotel Lodging Statistics For the Period Ended September 30, 2022 & 2021 |
Q3 2022 | Q3 2021 | YTD 2022 | YTD 2021 |
|---|---|---|---|---|
| Occupancy percentage | 86.66% | 81.25% | 76.2% | 68.0% |
| Average Daily Room Rate (ADR) | $216.55 | $224.61 | $184.71 | $178.07 |
| Revenue Per Available Room (RevPAR)* | $187.66 | $182.50 | $140.75 | $121.09 |
* RevPAR= ADR X Occupancy Percentage
Atlantic City Statistical Transportation Data
Source: South Jersey Transportation Authority
| Travel Mode | December 2022 |
Change from Prior Year |
December 2021 |
YTD December 2022 |
Change from Prior Year |
YTD December 2021 |
|---|---|---|---|---|---|---|
| AC Expressway | ||||||
| Total Toll-Paying Traffic Pleasantville Toll Plaza |
1,266,808 | -1.7% | 1,288,665 | 17,296,280 | -0.6% | 17,396,761 |
| AC Airport | ||||||
| Scheduled Service Passengers | 61,894 | -2.8% | 63,675 | 841,464 | 5.8% | 795,183 |
| Charter Passengers | 2,575 | -59.6% | 6,376 | 114,483 | 59.3% | 71,856 |
| Total Air Passengers | 64,469 | -8.0% | 70,051 | 955,947 | 10.3% | 867,039 |
Atlantic City Meetings and Conventions Data
Source: VistAC
| January '23 | January '22 | % Change from Prior Year |
TOTAL 2023 YTD |
TOTAL 2022 YTD |
% Change from Prior Year |
|
|---|---|---|---|---|---|---|
| Conventions/Tradeshows/Meetings* | ||||||
| # of Shows | 6 | 4 | 50% | 6 | 4 | 50% |
| # of Room Nights | 18,156 | 15,384 | 18% | 18,156 | 15,384 | 18% |
| # of Delegates | 64,367 | 53,409 | 21% | 64,367 | 53,409 | 21% |
| Delegate Spending | $16,741,927 | $13,472,282 | 24% | $16,741,927 | $13,472,282 | 24% |
| Boardwalk Hall Bookings | ||||||
| # of Shows | 4 | 3 | 33% | 4 | 3 | 33% |
| # of Attendees** | 10,044 | 15,017 | -33% | 10,044 | 15,017 | -33% |
| Hotel Bookings | ||||||
| # of Shows | 6 | 4 | 50% | 6 | 4 | 50% |
| # of Room Nights | 3,697 | 5,787 | -36% | 3,697 | 5,787 | -36% |
| # of Attendees | 1,646 | 16,000 | -90% | 1,646 | 16,000 | -90% |
| Delegate Spending | $1,936,582 | $3,900,814 | -50% | $1,936,582 | $3,900,814 | -50% |
| Monthly Totals | ||||||
| # Convs_Trade_Mtgs / Boardwalk Hall / Hotel | 16 | 11 | 45% | 16 | 11 | 45% |
| # of Room Nights | 21,853 | 21,171 | 3% | 21,853 | 21,171 | 3% |
| # of Attendees | 76,057 | 84,426 | -10% | 76,057 | 84,426 | -10% |
| Delegate Spending | $18,678,509 | $17,373,096 | 8% | $18,678,509 | $17,373,096 | 8% |
Notes:
*Includes Visit Atlantic City events booked at Boardwalk Hall
**Includes Meet AC events booked at Boardwalk Hall
LIGHT Snapshots is a publication of the Lloyd D. Levenson Institute of Gaming, Hospitality
& Tourism, Stockton University School of Business
Jane Bokunewicz, Ph. D., Faculty Director and Associate Professor of Hospitality
Atlantic City Information
Atlantic Avenue 'road diet' topic of conversation at Clean and Safe Atlantic City meeting - As reported by The Press of Atlantic City, during a Jan. 20 Clean and Safe Atlantic City meeting at City Hall, Casino Association of New Jersey President Mark Giannantonio expressed concern about the impact of the 'road diet' on the visitor experience at the peak of tourism season. The City Council has approved the first phase of the 'road diet' to begin from Maine Avenue in the Inlet to Tennessee Avenue in midtown.
Atlantic City Police begin 2023 with new plan to increase visibility - As reported by The Press of Atlantic City, the Atlantic City Police Department has announced a new deployment plan for 2023 with the aim of increasing police visibility and responsiveness in the resort.
Casino Reinvestment Development Authority (CRDA) posts request for proposals for a new grocery store - As reported by The Press of Atlantic City, the CRDA has released a new request to find an operator for a grocery store for the city. The deadline for proposal submissions is June 8.
First evening CitiStat meeting held at Stockton University's Atlantic City campus - As reported by The Press of Atlantic City, at the request of residents, the bi-weekly CitiStat meetings will alternate between 10 a.m. and 5 p.m. The first 5 p.m. session was held at Stockton University's Atlantic City campus on Jan. 25. As reported at the meeting, from Jan. 11 to 25 there were 114 problems reported to the city; 35 were closed and 79 were in progress as of Jan. 25. About 97% were responded to within 24 hours.
Money available for study of Bader Field, feasibility as city park - As reported by The Press of Atlantic City, two private foundations associated with former State Sen. William Gormley have donated $40,000 to study the potential of making Bader Field into a city park and using the space to provide back-bay flooding mitigation for the island.
Officials continue to work on resolving issues for Stanley Holmes Village Residents - According to The Press of Atlantic City, as of Jan. 26, residents of Stanley Holmes who have been without major kitchen appliances since the week before Thanksgiving are seeking reimbursement from the Atlantic City Housing Authority. All residents were previously refunded their November rent due to a lack of heat and hot water that month after boilers serving the housing complex failed. Heat and hot water have been restored, but other issues continue to persist. An editorial from the Press of Atlantic City summarizing events at Stanley Holmes Village.
New Jersey Gaming News
Guns prohibited on casino floor by Casino Control Act, unlikely to change - As reported by The Press of Atlantic City and Casino.org, a federal judge in New Jerset has issued a temporary restraining order that prevents parts of the new gun carry law from being enforced pending resolution of litigation challenging it. The New Law would prohibit the carrying of firearms in sensitive locations including casinos. Guns have always been banned from Atlantic City's casinos under the Casino Control Act. As of February 7 the Casino Association of New Jersey (CANJ) has reaffirmed the ban. CANJ President Mark Giannantonio told Casino.org, "all of the casinos are exercising their rights, as private property owners, to prohibit the carrying of firearms on their premises.”
The Casino Association of New Jersey (CANJ) highlights members' investment, capital improvements - According to a Jan. 17 news release from the CANJ, Atlantic City's nine casinos are currently investing "hundreds of millions of dollars in the city and the community through exciting economic development projects," and in the past several years have invested over $1 billion in the Atlantic City region. It is hoped that these investments "will continue to solidify Atlantic City’s position as a world-class resort destination with top-notch dining, shopping and entertainment offerings."
Thomas Carver, former president of the Casino Association of New Jersey, inaugural member of the CRDA, dies - As reported by The Press of Atlantic City, Thomas Carver "a champion for casino industry and economic growth in Atlantic City" died on January 10.
National Gaming News
Bills introduced in New York Sare Senate to increase number of licensed sports gambling companies, support responsible gaming - New York State Senate Bill S1962, was introduced and refered to the Racing, Gaming and Wagering Committee on January 17. The bill if passed would increase the number of licensed sports betting operators to no fewer than 14 by January 31, 2024 and no fewer than 16 by January 31, 2025. New York State Senate Bill S1550 introduced and refered to the Racing, Gaming and Wagering Committee on January 12 would require "all advertisements for gambling and sports betting to include warnings about potential harmful and addictive effects of gambling." A second responsible gaming bill New York State Assembly Bill A01056, introduced and refered to the Alcoholism and Drug Abuse Committee on January 13, would establish a problem gambling advisory council. Further coverage by Casino.org and Legal Sports Report.
'Coalition For a Better Times Square' supports controversial casino project - According to Casino.org, on Jan. 6 the "Coalition For a Better Times Square” released a statement in support of a plan to redevelop 1515 Broadway in Times Square as a casino. The proposed "Caesars Palace Times Square" would be a joint effort between SL Green Realty, Caesars Entertainment and Roc Nation. The group claims the development could generate more than $65 million in new revenue for the Broadway industry.
Michighan Gaming Control Board reports 41% year-over-year increase in total gross internet casino gaming and sports betting revenue in 2022 over 2021 - According to a press release from the Michighan Gaming Control Board, comercial and tribal internet casino and internet sports betting operators reported a combined $1.98 billion in total gross revenue in 2022 a 41% increase over the $1.4 billion generated in 2021. Total handle for the year was $4.6 billion compared with $3.7 billion recorded in 2021.
Nevada reports Casino Net Income Record for Fiscal Year 2022 - According to a January 19 press release, the Nevada Gaming Control Board has released the "Nevada Gaming Absract - 2022." The 296 casinos in Nevada which grossed greater than $1 million in gaming revenue, collectively generated $4.1 billion in net income for the fiscal year ended June 30, 2022. Total (gross) revenue for the same period was $26.4 billion with 40.5% of the total gross revenue ($10.7 billion) generated by gaming activity. Further reporting from Casino.org.
Hospitality & Tourism News
Air travel returns to normal operations after January 11 system outage - According to a statement from the Federal Aviation Administration, the Notice to Air Missions (NOTAM) system outage that grounded flights nationwide was caused by human error and not an attack. As reported by The New York Times the outage delayed more than 9,000 flights on January 11. Further reporting from The Philadelphia Inquirer.
Atlantic City Visitor Welcome Center on Atlantic City Expressway gets another chance - As reported by The Press of Atlantic City, state officials have decided to reopen the building for the 2023 tourism season after giving it a second chance last year. Between May 13 and Oct. 16, 2022, the center served 2,598 people. The 25-year-old building had been closed previously in 2019 due to low usage.
Local journalist who reported extensively on the casino industry, Atlantic City mourned - According to The Press of Atlantic City, David Spatz, a former Press of Atlantic City entertainment writer and local broadcaster at WOND-AM 1400, died on Jan. 22 at the age of 71. Mr. Spatz was remembered fondly for his work reporting on Atlantic City and its casino and entertainment industries.
Meet AC rebranded as 'Visit Atlantic City' - According to a Jan. 17 news release, Meet AC, Atlantic City's destination meetings and events marketing organization, has been rebranded as 'Visit Atlantic City.' According to the release, "Visit Atlantic City’s new branding embodies a series of personality traits that will guide marketing materials and plans moving forward. These include Playful, Bold, Eclectic, Celebratory and Iconic - all verbs that describe the vibes visitors expect when visiting the destination." Further coverage by The Press of Atlantic City and Casino.org.
Showboat annonces final phase of $50 million renovation project - As reported by The Press of Atlantic City, about 800 rooms, suites, the lobby and other areas of the Showboat are planned to be updated as part of the property's last phase of renovations. Rooms are expected to be ready in time for the summer 2023 season. The $100 million Island Waterpark is scheduled to open Memorial Day weekend.
