Resorts the lone AC casino with revenue gain in November

Atlantic City’s newest casinos continue to take market share from their seven rivals, all but one of which suffered gaming revenue declines in November.

On Wednesday, the New Jersey Division of Gaming Enforcement released its November gaming revenue report, which showed brick-and-mortar gaming win of $209.2m, up 12.9% from the same month last year and $8.6m higher than the casinos won in October 2018.

Both slot machines and table games were up 12.6% year-on-year to $148.4m and $60.8m, respectively. Total gaming revenue – counting November’s online gambling and sports betting contributions – was up one-fifth year-on-year to $247.6m.

On a year-to-date basis, AC’s purely brick-and-mortar casino gaming win is up 3% to $2.3b, leaving it just $110m below 2017’s full-year total, so the market appears on pace to post its third straight year of annual growth. But given the recent declines in the casinos’ profitability, the revenue celebration could be muted.