Atlantic City nine casinos have seen gains in overall revenue every month since sports betting went live in the state in Junes with the total sports betting handle over nine months now topping $2 billion.
The city casinos took in about $241 million in February, up 26 percent over February 2018 when only seven casinos were in operation. Two new casinos opened in June 2018 and they continue to impact the market causing four city casinos to report revenue declines.
For all casinos, table games accounted for $57 million in revenue, which is up 24.4 percent. Slot machine win increased by 12.4 percent to $139.6 million.
Still, sports betting and also online gambling continue to drive the city’s casino revenue upward. Online gambling increased 44 percent over 2018 to $32 million.
Gamblers bet $320 million on sporting events in February which included the Super Bowl on February 3. The casinos kept $12.7 million of bets on completed sporting events after winnings bets and other expenses were paid. Another about $750,000 was wagered on the Oscars—New Jersey is the first state to allow betting on the film awards—with sportsbooks keeping about a quarter of the total handle, according to the Associated Press.
“It’s clear the new gaming options and other amenities are continuing to grow the Atlantic City market,” said James Plousis, chairman of the New Jersey Casino Control Commission in a press release.
According to an analysis by the AP, Resorts Casino saw the biggest revenue increase, up 24.5 percent to $14.8 million. Caesars was up 10.7 percent to $19.4 million, and the Golden Nugget was up 5.8 percent to $26.5 million
Harrah’s was down 14.8 percent to $24 million; Bally’s was down 9.1 percent to $12.9 million; Borgata was down 7.5 percent to $54.3 million; and Tropicana was down 5.8 percent to $27.5 million, according.
The city’s two new casinos came in with the Hard Rock Atlantic City taking in $22.8 million and the Ocean Resort Casino at $14.9 million.
The Meadowlands Racetrack earned over $8 million in sports betting revenue in February, compared with $774,309 in revenue for Monmouth Park Racetrack.
