Atlantic City’s established casinos paying price for new entrants

The Atlantic City casino market reported solid year-on-year gains in September, despite nearly all of the established venues reporting double-digit brick-and-mortar gaming revenue declines.

According to the New Jersey Division of Gaming Enforcement (DGE), Atlantic City’s nine casinos reported brick-and-mortar gaming revenue of slightly less than $232m in September, up 7.7% from September 2017, but well below the $270m in brick-and-mortar win reported this August.

The market reported gains in both slots ($166.8m, +8.6%) and table games ($65.2m, +5.5%) for September. For the year-to-date, the overall market is up 2% to $1.89b, with slots rising 3.3% to $1.36b while tables are down 1.3% to $528.5m.

The casinos’ overall take was up 15.5% to $272.2m, thanks to $25.7m in online gambling revenue and $14.5m from sports betting (although that latter figure contains some still-pending wagers and uncollected winnings).