March 2022 Snapshots

 

LIGHT Snapshots

 
March 2022
 

In LIGHT of the data.

Total single month revenue for Atlantic City casino operators in March 2022 ($382.9 million) improved on February 2022 ($356.7 million) by 7%, but outperformed pre-pandemic March 2019 ($273.7 million) by 40%. Brick-and-mortar revenues for the month ($216.6 million) unfortunately tell a slightly different story, improving on February 2022 but falling short of March 2019 ($223.2 million).

Total gross gaming revenues for casino operators in the first three months of 2022 ($ 1,079.7 million) represent a new near term high, outpacing the same period in 2019 ($726.7 million) by 49% and 2011 ($793.9) by 36%. This performance is almost entirely driven by online and sports wagering revenues as evidenced by Casino Win (brick-and-mortar revenue) for the same three-month period ($612.7 million), which was promisingly on par with 2019 Casino Win ($597.1 million), but well short of 2011 ($793.9 million), which pre-dates both internet gaming and sports wagering in the state.

With such a strong start to the year we have every reason, barring as yet unforeseen complications, to expect 2022 to set new near-term records for total annual gross gaming revenue. However, operators may still struggle to gain ground on pre-pandemic 2019 in terms of brick-and-mortar gaming revenues.

Market pressures such as gas prices likely had an impact on March 2022 totals, which fell short of 2019. In comparison, January and February 2022 each exceeded 2019 single month brick and mortar revenue totals.

One indicator that has been slow to recover from the pandemic is casino employment. As the industry heads into the summer season, traditionally a period with higher demand for in-person gaming, we will begin seeing the restoration of some casino jobs in the city. But it is unlikely to result in pre-pandemic levels of employment, at least in the short term.    

 

Atlantic City Gaming Win & Total Casino Revenue

Source: N.J. Division of Gaming Enforcement

Monthly Revenue (Industry, $ In Thousands)

March 2022

% Change from Prior Year March 2021 YTD March 2022 % Change from Prior Year YTD March 2021
Total Gaming Win (includes Internet & Sports Wagering) $382,893 17.8% $324,994 $1,079,732 22.8% $878,960
Sports Wagering Revenue $25,627 -3.1% $26,451 $58,580 -21.5% $74,596
Internet Gaming Win $140,655 23.7% $113,669 $408,481 31.3% $311,240
Casino Gaming Win $216,611 17.2% $184,874 $612,672 24.2% $493,124

 

Quarterly Revenue (Industry, $ In Thousands)** Q4 2021 % Change from Prior Year Q4 2020 YTD December 31, 2021 % Change from Prior Year YTD December 31, 2020
Casino $452,937 21.8% $372,012 $1,781,740 44.0% $1,237,617
Rooms $135,229 77.8% $76,059 $617,785 93.1% $319,936
Food & Beverage $111,653 105.3% $54,390 $408,335 95.3% $209,036
Entertainment & Other $64,262 80.2% $35,659 $215,671 80.5% $119,490
Casino Licensees Total Revenue $764,081 42.0% $538,120 $3,023,530 60.3% $1,886,079
** Data agregated from New Jersey Division of Gaming Enforcement Quarterly Financial Reports for individual properties, includes amended totals as of April 12, 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, 2021 & 2020
Q4 2021 Q4 2020 YTD 2021 YTD 2020
Occupancy percentage 66.39% 46.25% 67.60% 61.75%
Average Daily Room Rate (ADR) $156.60 $121.58 $172.88 $139.74
Revenue Per Available Room (RevPAR)* $103.97 $56.24 $116.87 $86.28

* RevPAR= ADR X Occupancy Percentage


Atlantic City Statistical Transportation Data

Source: South Jersey Transportation Authority

Travel Mode February
2022
Change
from Prior
Year
February
2021
YTD
February
2022
Change
from Prior
Year
YTD February
2021
AC Expressway
Total Toll-Paying Traffic
Pleasantville Toll Plaza
1,189,222 28.8% 923,004 2,250,430  18.8% 1,894,512
AC Airport
Scheduled Service Passengers 63,925 98.7% 32,166 121,354 93.1% 62,831
Charter Passengers  7,192  392.9%  1,459 13,777  406.0% 2,723
Total Air Passengers 71,117  111.5% 33,625 135,131  106.1% 65,554

Atlantic City Meetings and Conventions Data

Source: MeetAC

  March '22 March '21 % Change
from Prior Year
TOTAL
2022 YTD
TOTAL
2021 YTD
% Change
from Prior Year
Conventions/Tradeshows/Meetings*
# of Shows 9 1 800% 18 1 1,700%
# of Room Nights 8,393 1,778 372% 30,522 0 N/A
# of Delegates 93,029 1,200 7,652% 174,366 36 484,250%
Delegate Spending $13,329,123 $1,331,747 901% $32,560,553 $4,125 789,247%
Boardwalk Hall Bookings
# of Shows 2 0 N/A 8 0 N/A
# of Attendees 23,199 0 N/A 55,084 0 N/A
Hotel Bookings
# of Shows 12 5 140% 24 3 700%
# of Room Nights 12,202 1,970 519% 25,843 448 5,660%
# of Attendees 11,863 5,106 132% 37,103 11,375 226%
Delegate Spending $8,319,847 $978,389 750% $17,699,491 $2,232,463 693%
Monthly Totals
# Convs_Trade_Mtgs / Boardwalk Hall / Hotel 23 6 283% 50 4 1,150%
# of Room Nights 20,595 3,748 449% 56,365 448 12,481%
# of Attendees 128,091 6,306 1,931% 266,553 11,411 2,236%
Delegate Spending $21,648,970 $2,310,136 837% $50,260,044 $2,236,588 2,147%

Notes:

Reduction in figures beginning mid-March 2020 are due to cancellations and/or shut downs as a result of COVID-19

January 2021 hotel attendees reflect virtual attendance numbers

*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 'No Tolerance' policy begins - As reported by The Press of Atlantic City, starting March 1, the city began posting more police officers on Atlantic Avenue in an effort to address neighborhood complaints. Continuing coverage from The Press of Atlantic City.

Atlantic City jobs training program begins at City Hall - As reported by The Press of Atlantic City, under the guidance of Community Development Block Grant Director Marc A. Starling, the Atlantic City program has committed $150,000 in grant funds to get individuals back in the workforce. City residents participating in the program will receive assistance with job searches and have access to job counselors who will follow up with clients after 30, 60 and 90 days of employment to help with any problems, such as transportation or child care, that might impede a person’s ability to stay employed.

Masks no longer required in city buildings - As reported by The Press of Atlantic City, effective March 16 masks were no longer required in Atlantic City-owned buildings. 

Neighborhood Revitalization Tax Credit to fund more than $2 million in projects for Atlantic City - As reported by The Press of Atlantic City, the N.J. Department of Community Affairs has announced that a total $14 million will be awarded to 19 community-based nonprofits accross the state including a total $2.05 million to three Atlantic City non-profits — $985,000 to the Atlantic City Development Corp. for use in the Chelsea neighborhood; $540,000 to the AtlantiCare Foundation, to be spent in Midtown; and $521,000 to the Atlantic County Economic Alliance for the Ducktown neighborhood.

New Jersey governor announces new executive director of Casino Reinvestment Development Authority - According to a March 17 statement, New Jersey Governor Phil Murphy announced the appointment of Sean M. Pattwell as executive director of the Casino Reinvestment Development Authority (CRDA). Mr. Pattwell was unanimously approved by the CRDA’s Board of Directors on March 15. 

PILOT hearing set for April 25 - As reported by The Press of Atlantic City, a hearing on the motion to reconsider changes to the Atlantic City Payment In Lieu of Taxes (PILOT) law wil be held on April 25. The hearing had originally been scheduled for April 1. 

New Jersey Gaming News

Bally's Atlantic City names new General Manager - As reported by Global Gaming Business, and Play NJ, former Assistant General Manager, Michael Monty has been named General Manager of Bally's Atlantic City. Former General Manager, Nick Polcino is reported to be moving to another Bally's Corp. property in the Northeast as General Manager. 

Bill authorizes Casino Reinvestment Development Authority to finance transportation projects - As recorded by the New Jersey State Legislature and reported by The Press of Atlantic City, Bill S1110 "authorizes CRDA to finance transportation projects between Atlantic City Airport and Atlantic City Tourism District." Under current guidelines, CRDA must commit all assets and revenues to community development and the Tourism District in Atlantic City. The Bill, which passed out of the Senate Committee on March 24, would permit a limited expansion of this focus. 

Bill proposes to use 1.25 percent tax on sports wagering for local Atlantic City tax relief - As recorded by the New Jersey State Legislature and reported by The Press of Atlantic City, Bill S854 "provides that 1.25 percent of tax on sports wagering revenues be used for local tax relief purposes for Atlantic City." Funds collected from the 1.25 percent tax on sports wagering are currently directed to the Casino Reinvestment Development Authority (CRDA) for the marketing and promotion of the city. The Bill's sponsor estimates that passage of the bill would make and estimated $2.5 million available to the city annually. As of March 24 the Bill was referred to the Senate Budget and Appropriations Committee.

Debate of Atlantic City casino indoor smoking ban continues - According to reporting from The Press of Atlantic City, NJ 101.5, ROI NJ and others, the debate over a ban on indoor smoking in Atlantic City casinos continues. According to NJ.com as of March 21, 35 members of the state Assembly and Senate had sponsored a measure (S264) to "eliminate the smoking ban exemption for casinos." The Greater Atlantic City Chamber of Commerce issued a statement opposing the ban. 

DraftKings fined $150,000 for accepting proxy bets - As reported by The Press of Atlantic City, on March 2, the New Jersey Division of Gaming Enforcement announced that it had come to an agreement with DrafKings concerning proxy betting incidents that are forbiden under state regulations. The company was fined $150,000 for allowing a Florida man to make online bets through a friend in New Jersey. Further coverage from Legal Sports Report

National Gaming News

American Gaming Association (AGA) estimates 45 million Americans wager on March Madness - According to a March 13 survey and press release, the AGA estimated more than 17% of American adults will wager $3.1 billion on the 2022 NCAA Men’s Division I Basketball Tournament.

Congressional Gaming Caucus introduces federal legislation, SLOT Act -  As reported by Las Vegas Review Journal, The Press of Atlantic City, Gambling News and Casino.org, members of the Congressional Gaming Caucus introduced the Shifting Limits on Threshold Act (SLOT Act) on March 3. The act seeks to increase the Internal Revenue Service (IRS) reporting limit for single-spin jackpots from $1,200.00 to $5,000.00. The current limit was set by Congress in 1977 and has remained unchanged since. The American Gaming Association released a statement in support of the legislation. 

Maryland sportsbooks take less bets in second full month of operation, mobile sports betting on hold - According to Legal Sports Report, following a stagered launch in December 2021, Maryland's five retail sportsbooks took 21.5% less in handle in February 2022 (their second full month of operation) than January 2022. A date for the launch of mobile sports betting, seen as crucial for the growth of the Maryland sports betting market, has yet to be set. The Sports Wagering Application Review Commission cannot set rules for mobile wagering until receiving the results of a new disparity study. As of March 16, the disparity study was underway with no timeline for completion. 

New York online casinos unlikely in 2022, possible in 2023 - According to Online Poker Report, online casino gambling, or "iGaming" was not included in the 2022 New York state budget. State Senator Joseph Addabbo told the press that it would be a "full-court press" to have iGaming included in the 2023 state budget. Allowing time for regulatory steps between legalization and launch, the earliest New York State could enter the online casino market would be late 2023. 

Pennsylvania gross gaming revenue (GGR) declines for third consecutive month - As reported by Casino.org, Pennsylvania's February 2022 GGR declined 4.4% compared to January 2022 making it the third consecutive month of month-to-month declines following record high revenues in November 2021. Sports betting losses may have suppressed state total GGR for the month as sports books lost $442,847 in February 2022 compared to a win of $16.3 million in February 2021. Further coverage from Play Pennsylvania and Legal Sports Report

PokerStars announces Spring Championship Tournaments - According to Online Poker Report, PokerStars hosted the Spring Championship of Online Poker (SCOOP) series in New Jersey, Pennsylvania and Michigan from March 25 through April 11. New Jersey players had their choice of 105 tournaments as part of the series, Pennsylvania had 120 tournaments and Michigan had 120 tournaments at various buy in levels. This is the first year PokerStars ran the Spring Series in all three states concurrently, "setting the stage for the possibility of the three states joining the same pool on a larger PokerStars network." Further New Jersey coverage from PlayNJ.

Sportsbooks nationwide see drop in handle in February - According to Legal Sports Report, New Jersey sportsbooks (-26.9%) weren't the only books to experience a month to month drop in handle from January 2022 to February 2022. Iowa (-28.8%), Tennessee (-18.8%), Indiana (-18.2%) and New York's newly launched books (-9%) all experienced month to month declines in handle. Declines can be attributed to a reduced sports calendar with the Super Bowl not quite making up for the lack of other football games, and the NBA and NHL both on All-Star breaks. 

Virginia State Legislators push for high school gaming education - As reported by Casino.org, Virgina legislators introduced House Bill 108, which if passed, would instruct the Virginia Board of Education to provide public schools with programs to teach the dangers of gambling in the same manner as drugs and alcohol are presented. Virginia became a commercial gaming state in 2021 with the introduction of legal mobile sports betting. 

West Virginia Satelite Gaming bill - As repoted by Casino.org, Senate Bill 100, which would have permitted the state's five commercial casinos to each build smaller satelite gaming venues, stalled in committee and is now 'dead' with the end of the 2022 legislative session on March 12. 

New Jersey Hospitality & Tourism News

Atlantic City City Council applies to Casino Reinvestment Development Authority (CRDA) for funds to improve and operate ice skating rink -As reported by The Press of Atlantic City, on March 16, Atlantic City's City Council voted to authorize application to the CRDA for capital improvement ($675,000) and operating funds ($135,000 of which $44,000 has been already received) for the now city run ice rink near Bader Field. The city has taken over opperation of the 23-year-old Skate Zone after former operator, Black Bear Sports Group, and the CRDA failed to reach a new lease agreement. 

Cape May announces 2022 Summer Concert Series - As reported by The Press of Atlantic City, Cape May has announced a series of nine performances to fill Convention Hall for Summer 2022. 

Cornhole League, Pickleball Championship tournaments come to Atlantic City - As reported by The Press of Atlantic City, from March 18 to 20, Showboat Atlantic City hosted The American Cornhole League Tournament which was nationally televised. In September the Atlantic City Convention Center will host the Indoor Open Pickleball Championship. Both sports, growing in popularity nationwide, are expected to bring "substantial good publicity" to the resort. 

Metro Atlantic Athletic Conference (MAAC) extends contract to hold men's and women's basketball tournaments at Jim Whelan Boardwalk Hall - as reporeted by The Press of Atlantic City, MAAC will extend their tournament contract with Boardwalk Hall for one more year. MAAC innitially signed a three-year contract with Boardwalk Hall starting in 2020. The 2020 tournament was cut short by COVID and attendance of the 2021 tournament was limited to family and friends due to pandemic restrictions.  The 2022 tournament (March 8-12) is the first to be offered in a "post-COVID environment." Despite being cut short, the 2020 tournament brought a reported 10,089 attendees to the city who generated 2,619 room nights and $3.7 million in economic output. 

Former Atlantic City rooming houses to become 'boutique hotel' - As reported by The Press of Atlantic City, on March 15, the Casino Reinvestment Development Authority (CRDA) Board of Directors voted to unanimously approve the sale of three former rooming houses to a developer for $150,000. The developer, Liberty Hudson Holdings LLC, plans to combine the properties at California Avenue and Albion Place into a single boutique hotel operating nine guest rooms in each building. The developers are not seeking any financial subsidies from the CRDA other than the reduced price of the buildings, which stand less than a block away from the beach and boardwalk. 

Progressive Atlantic City Boat Show returned for 2022 - After a year hiatus due to COVID, one of the Atlantic City Convention Center's largest annual events returned to the city March 2 through March 6. ACBoatShow.com press release and Convention Center Calendar 

National Hospitality & Tourism News

Frontier and Spirit Airlines announce expanded Las Vegas operations ahead of merger - As reported by Casino.org, Frontier and Spirit Airlines have each announced expanded service through Harry Reid International Airport – Las Vegas (LAS). Last year, Spirit and Frontier collectively facilitated 8.6 million passengers through Las Vegas’ international airport.

Global hotel companies shut down operations in Russia in response to invasion of Ukraine - As reported by Hotel Management, several major hospitality companies have announced plans to close offices in Russia and to provide support for refugees. Marriot International, Hyatt Hotels Corp., IHG Hotels & Resorts, and Hilton are among them. The industry has also launched the #HospitalityHelps initiative, which is activly providing information and hotel rooms to Ukrainian refugees. 

San Diego State University releases 'Analysis' of in-person business travel and meetings in comparison to virtual options - According to Analysis (Analysis: Business Travel And In-Person Meetings To Provide Post-Pandemic Boost) released by San Diego State University, "in-person business travel and meetings have undeniable advantages over virtual options, and... businesses and organizations that resume business travel and meetings more quickly are likely to have a competitive edge over those that do not."

Transportation Security Administration (TSA) extends mask mandate to April 18 - According to a March 10 statement, TSA has extended the "security directive for mask use on public transportation and transportation hubs" for one month as public health organizations, including the CDC, work on a revised policy framework for mask requirments. Further coverage by The New York Times

U.S. Travel Association responds to February 2022 jobs report - According to the February 2022 jobs report released by the US Bureau of Labor Statistics March 4, 73 percent of jobs still lost due to the pandemic are in leisure and hospitality. Further coverage by Lodging Magazine. In a March 4 statement, U.S. Travel Association Executive Vice President of Public Affairs and Policy Tori Emerson Barnes, noted: "While overall U.S. employment is just 1.4% below 2019 levels, L&H is down a disproportionate 9%." Barnes called on the President and Congress to take action saying, "today’s job numbers reflect the great need to accelerate the return of business and international inbound travel and the recovery of these L&H positions."