Snapshots October 2022
In LIGHT of the data.
In keeping with established seasonal patterns, total and brick-and-mortar casino revenue (slots, table games and poker) for Atlantic City’s casinos began to cool in October. Compared to September 2022, total gaming revenue was down 8%.
When considering the different gaming segments, monthly revenue was down 12% for brick-and-mortar, up 8.8% for internet gaming, and, despite an increase in monthly sports betting handle, down 34% for sports betting when compared to September.
Compared to October 2021, total gaming revenue for October 2022 was essentially flat increasing 1% year over year. This occurred despite a 7% year-over-year decline in brick-and-mortar gaming revenue. Internet gaming revenue for the month, which increased 15.9% compared to October 2021, seems to have made up the difference. Internet gaming continues to prove its importance to the overall gaming revenue mix for Atlantic City’s casinos just as it has in other gaming jurisdictions nationwide. At the national level, internet gaming has seen significant growth in 2022, as reported by the AGA Commercial Gaming Revenue Tracker.
Despite a less-than-impressive performance in October 2022 year-to-date, Atlantic City’s casinos are poised to set a new near-term record in year-end total gaming revenue, already outpacing year-to-date October 2021 revenue by 11.5%. While not as impressive as total gaming revenue, Atlantic City’s brick-and-mortar casino revenues overall have been strong in 2022. Brick-and-mortar casino revenue in the period ending October 2022 outpaced the same period in 2021 by 9.3%, despite inflation, increased gas prices and a tapering in pent-up demand. At $2.35 billion, year-to-date brick-and-mortar revenues also exceeded the period ended October 2019 ($2.25 billion) by 4.5%.
Based on year-to-date revenues, 2022 has already exceeded 2019 for year-end total gaming revenues and has the potential to exceed 2019 year-end brick-and-mortar casino revenues as well.
Atlantic City Gaming Win & Total Casino Revenue
Source: N.J. Division of Gaming Enforcement
| Monthly Revenue (Casino Licensees, $ In Millions |
October 2022 |
% Change from Prior Year | October 2021 | YTD October 2022 | % Change from Prior Year | YTD October 2021 |
|---|---|---|---|---|---|---|
| Total Gaming Win (includes Internet & Sports Wagering) | 396.83 | 1.0% | 393.09 | 3,948.29 | 13.0% | 3,494.57 |
| Sports Wagering Revenue | 29.03 | 1.7% | 28.54 | 227.76 | -6.3% | 243.06 |
| Internet Gaming Win | 147.18 | 15.9% | 127.00 | 1,365.08 | 22.3% | 1,115.73 |
| Casino Gaming Win | 220.62 | -7.1% | 237.54 | 2,355.46 | 10.3% | 2,135.78 |
| Quarterly Revenue (Industry, $ In Thousands)** | Q2 2022 | % Change from Prior Year | Q2 2021 | YTD June 30, 2022 | % Change from Prior Year | YTD June 30, 2021 |
|---|---|---|---|---|---|---|
| Casino | 454,541 | 2.0% | 445,541 | 899,484 | 9.3% | 822,932 |
| Rooms | 172,942 |
18.9% |
145,472 | 292,341 | 24.0% | 235,696 |
| Food & Beverage | 131,757 | 44.9% | 90,933 | 235,471 | 52.3% | 154,653 |
| Entertainment & Other | 69,545 | 56.5% | 44,445 | 121,274 | 55.2% | 78,138 |
| Casino Licensees Total Revenue | 828,785 | 14.1% | 726,630 | 1,548,570 | 19.9% | 1,291,418 |
** 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 June 30, 2022 & 2021 |
Q2 2022 | Q2 2021 | YTD 2022 | YTD 2021 |
|---|---|---|---|---|
| Occupancy percentage | 77.4% | 70.0% | 70.4% | 61.2% |
| Average Daily Room Rate (ADR) | $171.79 |
$158.00 |
$163.21 | $146.32 |
| Revenue Per Available Room (RevPAR)* | $132.99 | $110.56 | $114.90 | $89.55 |
* RevPAR= ADR X Occupancy Percentage
Atlantic City Statistical Transportation Data
Source: South Jersey Transportation Authority
| Travel Mode | September 2022 |
Change from Prior Year |
September 2021 |
YTD August 2022 |
Change from Prior Year |
YTD August 2021 |
|---|---|---|---|---|---|---|
| AC Expressway | ||||||
| Total Toll-Paying Traffic Pleasantville Toll Plaza |
1,576,758 | -6.5% | 1,686,751 | 13,318,135 | 0.7% | 13,225,942 |
| AC Airport | ||||||
| Scheduled Service Passengers | 61,153 | 3.1% | 59,300 | 658,067 | 10.4% | 595,945 |
| Charter Passengers | 11,799 | 7.8% | 10,949 | 90,196 | 100.3% | 45,033 |
| Total Air Passengers | 72,952 | 3.9% | 70,249 | 748,263 | 16.7% | 640,978 |
Atlantic City Meetings and Conventions Data
Source: MeetAC
| October '22 | October '21 | % Change from Prior Year |
TOTAL 2022 YTD |
TOTAL 2021 YTD |
% Change from Prior Year |
|
|---|---|---|---|---|---|---|
| Conventions/Tradeshows/Meetings* | ||||||
| # of Shows | 8 | 6 | 33% | 71 | 24 | 196% |
| # of Room Nights | 13,448 | 5,199 | 159% | 107,769 | 22,437 | 380% |
| # of Delegates | 21,264 | 11,589 | 83% | 402,619 | 73,978 | 444% |
| Delegate Spending | $10,770,436 | $4,308,968 | 150% | $137,536,989 | $19,592,141 | 602% |
| Boardwalk Hall Bookings | ||||||
| # of Shows | 5 | 3 | 67% | 33 | 3 | 1000% |
| # of Attendees | 26,371 | 34,915 | -24% | 147,103 | 34,915 | 321% |
| Hotel Bookings | ||||||
| # of Shows | 19 | 14 | 36% | 134 | 97 | 38% |
| # of Room Nights | 19,478 | 15,187 | 28% | 109,847 | 91,173 | 20% |
| # of Attendees | 19,730 | 13,445 | 47% | 169,059 | 120,942 | 40% |
| Delegate Spending | $10,485,045 | $7,596,454 | 38% | $68,123,514 | $52,612,323 | 29% |
| Monthly Totals | ||||||
| # Convs_Trade_Mtgs / Boardwalk Hall / Hotel | 32 | 23 | 39% | 238 | 124 | 92% |
| # of Room Nights | 32,926 | 20,386 | 62% | 217,616 | 113,610 | 92% |
| # of Attendees | 67,365 | 59,949 | 12% | 718,781 | 229,835 | 213% |
| Delegate Spending | $21,255,481 | $11,905,422 | 79% | $205,660,503 | $72,204,464 | 185% |
Notes:
January 2021 hotel attendees reflect virtual attendance numbers
March and August 2021 conventions/tradeshow numbers updated based on information received after reporting deadline
January 2022 conventions/tradeshow numbers updated based on information received after reporting deadline
March 2022 Boardwalk Hall Bookings updated based on information received after reporting deadline
*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
2020 Atlantic City Expressway Toll increase funding $180 million lane expansion project - As reported by The Press of Atlantic City, South Jersey Transportation Authority officials say that by 2025 the Atlantic City Expressway will be three lanes in both directions for its entire length. Toll increases set in 2020 will fund the $180 million project. $42 million from the toll increase will also fund a transition of the Expressway to all-electronic tolling.
Atlantic City hosts Marathon and Half Marathon - As reported by The Press of Atlantic City, the resort welcomed thousands of runners and their supporters for "one of New Jersey's premier races." The marathon, founded in 1958, claims to be the third oldest sontinuously held marathon in the country - the event was offered virtually in 2020.
City moves forward with Clean and Safe initiatives, holds bi-weekly community meeting - As reported by The Press of Atlantic City, problem streetlights are being addressed with 98% of the city's 6,000 lights reported to be in service. Most of the 117 lights that are still out have underground equipment in need of replacement with supply chain shortages impacting the speed of repairs. The city is spending $5 million to install security cameras in all city neighborhoods, but the cameras will only be effective if the city's lights are repaired. Two technologies used to combat crime in other major cities are coming to Atlantic City. CitiStat "will allow residents and others to report potholes, streetlights that don’t work, trash collection and code enforcement issues, and more." CompStat "will provide data collection and analysis so Atlantic City police can better prevent and combat crime." Mobile outreach for drug users and mentally ill is planned. A daily outreach van will offer to take substance abusers and those with mental illness into immediate treatment. draft legislation to create a mental health court is being "fine tuned."
CRDA approves officers for Tourism District, two new cannabis businesses and apartment building - As reported by The Press of Atlantic City, the Casino reinvestment Development Authority (CRDA) approved $1.5 million to fund 30 Class II police officers and five full time officers for the city's Tourism District. In the past, CRDA hired an average 25 officers. Also reported by The Press of Atlantic City, the CRDA board voted to approve two planned cannabis businesses for the city and approved new apartments and a former rooming house.
Esports grows in Atlantic City - As reported by The Press of Atlantic City, Stockton University’s Atlantic City Campus hosted The Casino Esport Conference on October 18-19. On the first day of the conference, The Esports Innovation Center celebrated its official opening with a ribbon-cutting ceremony. Further reporting by ROI-NJ, and NJ 101.5. As reported by ROI-NJ Stockton University is becoming a leader in esports.
New Jersey Economic Development Authority (NJEDA) authorizes grant funding for Atlantic Ciy and Newark's commercial corridors - As reported by ROI-NJ, the NJEDA board supported the creation of a $10 million Activation, Revitalization, and Transformation Program aimed at revitalizing the commercial corridors of Atlantic City and Newark. The one-time grant "will assist economic recovery in the infrastructure, capacity building and resources necessary to help Atlantic City and Newark recover from the economic harms from the reduction of commuters due to the COVID-19 pandemic."
Standard & Poor’s upgrades Atlantic City general obligation bonds - As reported by The Press of Atlantic City, Standard & Poor’s upgraded the city's rating from BB- to BB with a positive outlook citing improved budgeting and management policies.
New Jersey Gaming News
Esports betting platform Vie.gg shutting down - As reported by Esports Insider and SBC Americas, Vie.gg, an esports betting platform owned by Esports Entertainment Group has shutdown global operations (New Jersey, Spain and the UK) effective November 1. The closure may open space for a new sportsbook to use the vacated space on Bally's Atlantic City license.
Evolution adds craps to live dealer offerings - As reported by Play NJ, New Jersey regulators have authorized Evolution to offer live dealer craps to online casino patrons. New Jersey is the second U.S. jurisdition to offer the game, Pennsylvania was the first.
Judge grants 90-day say of decision striking down changes to PILOT - As reported by The Press of Atlantic City, Superior Court Judge Michael Blee granted the state a 90-day stay in his decision to strike down the 2021 changes to the PILOT agreement for Atlantic City casinos. A higher court will decide if the 2021 amendments to the original 2016 agreement are constitutional.
Smoke free casino group founded in Atlantic City to go national - As reported by Casino.org,Casino Employees Against Smoking’s Effects (CEASE) which originated in Atlantic City announced at the annual Global Gaming Exppo (G2E) in las vegas, that the group plans to form affiliates in other states where indoor casino smoking persists. Further reporting by The New York Times, Las Vegas Review Journal and NJ.Com.
National Gaming News
Caesars not selling Las Vegas Strip property - As reported by Casino.org, Caesars Entertainment management has dismissed rummors that the sale of one of its Las Vegas Strip properties is being considered as part of overall debt reduction plans. Operators instead announced that October was the strongest month in company history.
Florida sports betting case continues - According to Legal Sports Report, the Department of the Interior filed its answering brief in the on going court case concerning the 2021 gaming compact between the Seminole Tribe of Florida and Governor Ron DeSantis. The brief responds to the Tribe's request for an appeal of the court ruling that ended sports betting in the state, just weeks after launch, on the grounds the compact authorizing sports betting violatied the Indian Gaming Regulatory Act (IGRA).
Maryland expects December online sports betting launch - As reported by Casino.org, the Maryland Sports Wagering Application Review Commission (SWARC) is expected to formally issue online sports betting licenses, 10 total, on November 21, which could mean sportsbooks will launch a few weeks later in December. Additional reporting from Legal Sports Report.
Massachusetts expected to launch online and in-person sportsbooks in early 2023 - According to Legal Sports Report, no launch timeline was announced at the Massachusetts Gaming Commission meeting on October 20 . However, goals of launching retail before the Super Bowl in January 2023 and online before NCAA Tournament in March, seem to still be on track.
Ontario Canada casinos add sports betting - According to an October 28 media release from the Ontario Lottery and Gaming Corporation (OLG), select casinos in Ontario Canada have begun to introduce sportsbooks to their offerings. Play smart, OLG's responsible gaming platform will be incorporated into all casino-based sportsbook offerings within the jurisdiction. OLG released retail sports betting at lottery retailers in August 2021 as well as ProLine+ for online ON sportsbetting. Further reporting by Legal Sports Report.
PENN Entertainment moving Barstool brand to own platform - According to Legal Sports Report, PENN Entertainment and their sportsbook platform provider have reached an agreement to transition Barstool to its own Barstool Sportsbook platform. The transition is expected to begin in 2023, with the mobile portion completed by third wuarter and retail locations transitioned by 2024.
Pennsylvania Casino Diversity Report shows no change in employment demographics - As reported by Casino.org, the Pennsylvania Gaming Control Board (PGCB) has released its 15th annual diversity report. A requirement of the state's 2004 gaming law is that the 16 brick-and-mortar casinos hire a a diverse workforce representative of the state's overall demographics. The 15th annual report confirms that the industry has largely maintained a diverse workforce over the past twelve months.
Hospitality & Tourism News
American Hotel & Lodging Association (AHLA) member survey finds 87% of hotels report staffing shortages - According to an October 3 press release, a recent survey of AHLA members found 87% of respondents were experiencing a staffing shortage, 36% a severe staffing shortage. The most critical need being for housekeeping. 42% of respondents ranked it as their biggest staffing challenge.
Atlantic City International Airport (ACY) to host national airline conference - According to The Press of Atlantic City ACY plans to host TakeOff North America 2023 a national airline conference from August 13-15, 2023.
Bill requiring New Jersey Division of Travel and Tourism to promote Central Jersey, allocate COVID relief dunds based on need introduced to legislature - Bills A4711 and S3206, which require the Division of Travel and Tourism to recognize and promote Central Jersey were introduced to the state legislature on October 11 and 13 respectively. The division is instructed to "re-draw the State tourism map to create a “Central Jersey” region, minimally including Hunterdon, Mercer, Middlesex, and Somerset counties." Federal COVID releif funds used by the Division for tourism promotion are to be allocated on the basis of need. in alocating funds the division is asked to "use the percentage of tourism decline in those regions or activities as the basis for how and where the relief funds are spent."
Las Vegas Convention and Visitors Authority (LVCVA) reports tourism statistics for September 2022 - According to reports from LVCVA, tourism to the resort is rebounding from 2020 lows caused by the pandemic. In September 2022 39% more people visited the area than in September 2021 and total number of visitors for the month (3.35 million) came within 4% of September 2019 (3.47 million). Further reporting from Casino.org.
