Atlantic City’s casino revenue was up an impressive 20 percent in November compared to November of last year, with the city’s now nine casinos taking in $247.65 million compared to $206.4 million in 2017.
And again, the numbers were buoyed by a strong percentage increase in online gaming—up 30.7 percent over last year at $26.9 million—and about $11.5 million in sports betting revenue for the city.
The re-openings of Hard Rock Atlantic City and the Ocean Resort casino in June, however, continued to affect the bottom line of the seven casinos operating in November 2017. Only Resorts Atlantic City saw a revenue increase for the month, at about $16.4 million—a 10 percent increase.
“November was another strong month for the casino industry,” said James Plousis, chairman of the New Jersey Casino Control Commission in a press release. “The stage is set for 2018 to be the third straight year of growth in Atlantic City.”
Total gaming revenue for the year is up 6.5 percent in Atlantic City compared to last year at about $2.6 billion, up from $2.45 billion. November marked the sixth consecutive month that casino revenue grew in the resort and the seventh month overall this year. However, gross operating profits in the industry were down 9.3 percent through September.
For November, the Borgata had revenue of $55.8 million, down 7.1%, followed by the Tropicana at $25.39 million down 3.9%. Harrah’s had $25.35 million in revenue down 10.9%.
Hard Rock reported $21.5 million in revenue, down $1.7 million from October and Ocean Resort earned $11.7 million, down $1.4 million from October.
Meanwhile online gaming and sports betting continued to be winners for the city and state, combining to add about $38.5 million in revenue. Online gaming was up an impressive 30.7 percent to $26.9 million.
Sports betting revenue was a reported $11.5 million last month in Atlantic City, with operators statewide—which includes sportsbooks run through the Meadowlands Racetrack and Monmouth Park racetrack– taking in more than $330 million in wagers.
Since being launched in mid-June, sports betting was generated $40.8 million in Atlantic City and $73.2 million statewide, with more than $928 million in wagers placed, according to an analysis by the Associated Press.
Among sports betting providers in November, Resorts Digital, which is partnered with DraftKings, took in $7.1 million in revenue to lead the state’s industry. The Meadowlands Racetrack, partnered with FanDuel, was close behind at $7 million. Ocean Resort was third at $2.8 million, and Monmouth Park Racetrack was fourth at $2.6 million. Both are partnered with William Hill.
The state received $2.4 million in sports betting taxes in November; since it began in mid-June, it has received nearly $8 million in such taxes, according to the AP.
Bets on football have dominated the state’s sports betting at about $328 million. The sportsbooks have held on to just under six percent of all bets in the state. New Jersey does not recognize bets as revenue until contests are finished and all winning bets have been paid.
