Robust August revenue propelled Atlantic City casinos to their best summer performance in more than a decade.
In a surprising turn of events, brick-and-mortar casinos in Atlantic City have been outperforming their online counterparts, a trend that started in August and continued for four consecutive months. This positive development has contributed to the city's casinos experiencing their best summer in over a decade.
The collective revenue for the nine casinos in Atlantic City reached nearly $312 million in August, a 6.1% increase compared to the same month the previous year. This marks a significant improvement, especially considering that the market had been favouring remote internet betting before the trend reversed.
Internet gambling revenues are not solely retained by the casinos. A portion of these revenues is shared with outside parties such as tech platforms and sportsbooks. However, the revenue from brick-and-mortar casinos in August was likely higher than the revenue from internet gambling operations.
The success of brick-and-mortar casinos may be due to a shift away from remote internet betting. This shift could be influenced by various factors, including the desire for social interaction, the convenience of on-site amenities, or the enhanced gaming experience offered by traditional casinos.
The president of the New Jersey Division of Gaming Enforcement, who released the overall casino results in August, is not explicitly named in the search results. However, Jamie McKelvey, the Assistant Bureau Chief and responsible for responsible gaming at the Division, was mentioned.
Brick-and-mortar casinos in Atlantic City had great news in August. Apart from setting a new monthly record, they also won more than online betting operations for four consecutive months. This trend, if it continues, could solidify the position of brick-and-mortar casinos in the competitive gambling market.
The improvement was primarily driven by the month of August. It remains to be seen whether this positive trend will continue into the coming months, but for now, the casinos of Atlantic City are celebrating a successful summer.
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