Atlantic City Casinos Rebound With A MultiBillion Dollar Year

Updated on January 24, 2020 0 comments 2330 Reads
atlantic city casinos

If you moved to or first visited the Atlantic City area in the past year, it’s hard to imagine that only a few years ago. The city was on a major downward spiral. In just two years (2014-16), five Atlantic City casinos had closed, more than 11,000 people lost their jobs, and the future of the town looked bleak.

I was there to see the sad saga unfold firsthand. But now I am still there to witness and celebrate the metamorphosis.

Two great years for Atlantic City, back to back

The year 2018 was a banner one for Atlantic City. In the same locations where two bankrupt casino properties once stood, two new casinos opened: Hard Rock Hotel & Casino and Ocean Casino Resort.

But that wasn’t the only noteworthy happening to make the 40th anniversary of NJ casino gambling every bit as worthy of celebration as the May 26, 1978, opening of Resorts, the first legal casino in the US outside of Nevada.

Finally, after a long, hard fight that NJ took to the Supreme Court, the Professional and Amateur Sports Protection Act (PASPA) was declared unconstitutional.  As a result, New Jersey became the third state in the country to legalize full-scale sports betting.

What could happen in 2019 that could be equally, if not more spectacular? Last year, Atlantic City casinos took in nearly $3.3 billion in revenue!

How the 2019 figures compare with those for 2018

In my Jan. 2, 2020 article for NJ Online Casino, “Atlantic City 2019 Casino Gaming Revenue Has Topped $3 Billion,” I reported that 2019 marked the first time since 2012 that total Atlantic City casino gaming revenue had reached that magnitude. Moreover, the figures that were available at that time only covered the period through November 2019.

Now that the data for December 2019 have been added, the Division of Gaming Enforcement (DGE) reports a total of $3.29 billion in revenue for 2019 for the nine Atlantic City casinos combined. This represents an increase of more than 15% compared to 2018.

Online casino gambling in 2019

Online casino gambling contributed significantly to the bottom line. Internet gambling accounted for $482 million in revenue in 2019, an increase of more than 61% over 2018.

Rank
Casinos
Bonus
Features
Play
1
$2,500 Bonus
On Deposit
Caesars Palace Online Casino Review
  • 100% up to $2,500 on Deposit
  • PLUS 2,500 Rewards Credits on $25+ Wager
  • Use Promo Code: PLAY2500
2
$25 Bonus
On Sign Up
BetMGM Casino Review
  • $25 on the House
  • PLUS 100% Deposit Match up to $1,000
  • 21+. Gambling Problem? Call 1-800-GAMBLER
  • Use Bonus Code: PLAYNJFREE
3
Up to $1,025
In Bonuses
Hard Rock Bet Casino Review
  • Get a $25 Casino Bonus on Sign Up

  • PLUS 100% Deposit Match up to $1,000

  • 21+. Gambling Problem? Call/Text 1-800-Gambler. T&Cs apply

  • To Claim: Click Play Now

4
$35 Casino Credits
On First Deposit
DraftKings Casino Review
  • $35 Casino Credits on First Deposit PLUS

  • 24-Hour Lossback up to $1,000 Casino Credits

  • PLUS 350 Bonus Spins on a Featured Game

  • To Claim: Click Play Now

5
Up to $150
In Bonuses
Bally Bet Casino Review
  • Up to $100 Reload Bonus

  • PLUS Get a $50 Bonus on First Deposit

  • Play Over 200 Slots Games

  • Use Promo Code: ONLINEBET 

6
$1,250 Bonus
On Deposit
  • Get a 100% Bonus Back up to $1,250
  • Now live in MI, NJ, PA & WV
  • Use Promo Code: PLAYGOLD
7
Up to $500 Back
In First 24 Hours
BetRivers Casino Review
  • 100% of Losses in First 24-Hours up to $500 Back
  • ONLY 1x Play Through on Bonus Money!
  • Use Affiliate Code: PLAYCAS
8
Up to $1,000
Plus 350 Spins
Golden Nugget Casino Review
  • Deposit $5, Get 350 Spins on a Featured Game

  • PLUS 100% Slots Deposit Match up to $1,000

  • Top-Notch Slots & Table Classics

  • To Claim: Click Play Now

9
Deposit $10,

Get $40

Plus 500 Bonus Spins
  • Deposit $10, Get 500 Bonus Spins & $40 in Casino Bonus

  • 1 X Play Through

  • To Claim: Click Play Now

10
Deposit $10, Get $50
In Bonus Money
  • Deposit $10, Get $50

  • Over 500 Online Slots

  • Exclusive Monopoly Games

  • To Claim: Click Play Now

11
500 Bonus Spins
+ Up to $500 Deposit Match
  • 100% Deposit Match up to $500
  • PLUS 500 Bonus Spins
  • Slots, Live Casino, Blackjack, Roulette & more
  • To Claim: Click Play Now
12
Up to $1,000
Back in Casino Credit
  • Up to $1,000 in Casino Credit in Your First 10 Days or Choose Your Own Offer

  • Play Slots, Table Games, Live Dealer & Fanatics Blackjack

  • To Claim: Click Play Now

13
$1,000 Bonus
Plus 20 Spins on Deposit
  • Get a 100% Deposit Match up to $1,000 + 20 Bonus Spins
  • 300+ Slots, Table & Live Dealer Games
  • Play Blackjack, Baccarat, and Roulette
  • To Claim: Click Play Now

However, most individual Atlantic City casino profits were down

The addition of two casinos has had the positive effect of producing new jobs and adding new revenue. But the downside has been that the two new casinos have diluted the profitability of the seven other Atlantic City casinos. Five casinos: Tropicana, Harrah’s, Bally’s, Caesars and Resorts, each won less money in 2019 than in 2018. Tropicana posted the biggest revenue decline (8.2%).

On the other hand, Golden Nugget, second in revenue to the perennial leader, Borgata, reported an increase in revenue from 2018 to 2019 of 15.4% to $378.4 million. Borgata also showed a small gain. Its revenue was up 3.5% to $797.8 million.

Sports betting added another $300 million to the 2019 total

The above-mentioned figure of $3.29 billion includes both land-based and online Atlantic City casino gambling but not sports betting. When the revenue from sports betting is added to the equation, the total gambling revenue for 2019 jumps to $3.46 billion.

The two biggest months for sports betting were November and December, with nearly $563 million and nearly $5.58 million wagered respectively at NJ sportsbooks. Altogether, nearly $4.6 billion was wagered at NJ sportsbooks in 2019.

Summary and conclusion

Even though some Atlantic City casinos did not fare as well in 2019 as they did in 2018, gambling analysts don’t see these results as a major problem. On the contrary, they are encouraged by the bigger picture, which is the overall revenue increase.

As Rummy Pandit, a gambling analyst at Stockton University, points out:

 “Atlantic City has successfully diversified its gambling offerings, particularly through sports betting and internet gambling. Those two products, developed since November 2013, now account for more than 18% of Atlantic City’s winnings.”

 However, there is still room for improvement. David Schwartz, a gambling historian with the University of Nevada Las Vegas, believes that in order to continue the upward trend, “what Atlantic City needs right now is to improve its image and marketing and become a destination in a crowded Northeast casino market.”

Privacy Policy