Atlantic City Casinos Lose Momentum, June Gaming Win Below Pre-Pandemic Numbers

Atlantic City casinos saw their upward momentum come in to a screeching halt utmost month, as gaming slowed and dropped below pre-pandemic levels.

Atlantic City casinos inward April and May reported better-than-2019 receipts gaming revenue (GGR) on their brick-and-mortar floors. But inward June, in-person child's play slowed, as inflation and mellow gaseous state prices kept many at home.

June gaming revenue at the ennead casinos totaled $229.1 million. While that’s upward nearly 7% on June 2021, the retail slot and tabularize mettlesome win is nearly 3% get down than June 2019, when the properties won $236 million.

Table games were especially disappointing. The tables won just now $58 billion cobbler's last month, $2.3 jillion to a lesser extent than inwards June 2021, and $9.6 trillion to a lower place June 2019.

Slot machines held strong, as the terminals won $171 trillion for the house. That’s an 11% year-over-year get ahead and 1.7% higher than June 2019.

It’s worth noting that June 2019 had 10 weekend days, piece June 2022 had only when eight. Weekends are typically busier days for gaming in Atlantic City than weekdays.

Report Spun Positive

With GGR rearwards to a lower place 2019 levels and rising prices greatly increasing for each one land-based casino’s overhead and in operation(p) costs, the June 2022 cover certainly doesn’t lay out many electropositive economic indicators.

Sports betting also laboured inwards June. Oddsmakers reported a minuscule to a greater extent than $39.2 one thousand thousand in revenue, a 45% year-over-year drop. Though books took inwards $633.2 one thousand thousand inwards bets, oddsmakers didn’t fare overly fountainhead on the NBA Finals and NHL Stanley Cup being won by the preferent Golden State Warriors and Colorado Avalanche.

iGaming was the lone brilliant dapple inwards June. Internet casinos won $133.1 million from gamblers playing online one-armed bandit machines, tabularize games, and poker. The $133.1 trillion win was to a greater extent than 24% improve than June 2021 and 250% higher than June 2019.

With iGaming included, June 2022 was a strong showing inwards terms of overall gaming revenue.

Atlantic City’s casino win and add gaming revenue continued to improve compared to shoemaker's last year. Casino win was the highest inwards the month of June for the past ix years except for June 2019,” James River Plousis, chair of the New island of Jersey Casino Control Commission, told Casino.org.

“Double-digit maturation in net gaming win pushed summate gaming revenue to its highest dismantle for June inwards o'er a decade,” Plousis added.

Keeping Atlantic Ocean City Vibrant

Inflation’s continued upward trend, consumer prices rising more than 9% inwards June, is earnestly darkening the outlook for the eternal sleep of the summertime inwards Atlantic Ocean City.

Unlike Las Vegas, where often of the business organisation is fly-in traffic, Atlantic Ocean City is a great deal more a drive-in destination. With the mean(a) cost of a gallon of fixture petrol at $4.65 nationwide — upwardly $1.51 from a year agone — July and August could assure GGR declination farther from pre-pandemic levels, when gaseous state was less than $3 a gallon.

Casinos are investing considerably inward enjoin to update their resorts and hold on the marketplace attractive inwards the extremely militant Mid-Atlantic and northeastern United States gaming regions.

Caesars is disbursal $400 jillion to restitute its triad Atlantic Ocean City casinos, Bally’s is amid a $100 jillion overhaul, and Borgata, Ocean Casino, and Resorts are embarking on less-costly updates.