Surprisingly, Atlantic City casinos have raised the standard with a huge gross gambling revenue in June. The Atlantic City casinos recorded at least $345 million in June after the lockdown and pandemic fears were reduced.
The last time Atlantic City casinos set such a record was in June 2019, when they also earned more than $278 million as gross gambling revenue. However, it seemed as if gamblers were unwilling to visit the casinos after the lockdown was lifted.
Nonetheless, it seems that gamblers have returned, taking their wallets to the casinos.
Is June the Magic Month for Atlantic City Casinos?
Not really, but going by the gross gambling winnings of Atlantic City casinos in the previous years, it’s easy to think so. However, the chain was broken in 2020 because of the pandemic. Aside from Atlantic City casinos, land-based casinos in other states earn more in June because of the following:
Summer: As you may know, summer starts in June. Based on this, industry watchers were eagerly expecting the gross earnings from June. More so, because it is summer, it is the busiest month for most land-based casinos.
Promotions: A lot of land-based casinos tend to offer more promotions to players during this period, maybe because summer has started approaching. As usual, the land-based casino promotions aim to get more players to visit.
No doubt, the ease of the restriction before June was one of the factors that contributed to Atlantic City casinos earning more. The rapid vaccination of residents has truly helped in bringing back the hospitality and entertainment sector in New Jersey. Furthermore, most of June, the land-based casinos get more visitors. Not to mention, it appears that some workers prefer to take a vacation during this month too.
Overview of the New Jersey Land-Based Casinos
Like every other land-based casino industry in the world, the New Jersey gambling industry faced challenges. 2020 was a setback for the New Jersey land-based sector. However, after lifting the restrictions, it appears that the industry has got back to normal. Considering the huge review generated by Atlantic City casinos in June, they may recover quickly from the 2020 losses.
Unlike other states, New Jersey doesn’t have tribal casinos. More so, all the casinos in New Jersey are situated in Atlantic City. New Jersey Casino Control Commission is the regulatory agency that monitors land-casino activities, including online casinos.
Approximately eight land-based casinos operate in Atlantic City, and they are:
Ocean Casino Resort
Hard Rock Hotel & Casino
Resorts Casino Hotel
Ballys Atlantic City
Borgata Hotel & Spa
Harrah’s Resort Atlantic City
Tropicana Casino Resort
Caesar Atlantic City Hotel & Casino
Most of these casinos have since resumed operations since the New Jersey government eased restrictions on land-based casino operations.
Gross Gambling Revenue of Atlantic City Casinos
Interestingly, most of the Atlantic City casinos enjoy a huge gross gambling revenue in June. With one of the casinos earning almost $100 million in June. According to Julius Plousis, the casinos in the city will earn more than 20 percent of their gross earnings in June 2019. Plousis heads the New Jersey Casino Control Commission.
A breakdown of the Atlantic City casinos gross gambling revenue for June 202 is as follows:
Borgata Hotel & Spa – $97.7 million
Hard Rock Hotel & Casino – $41.6 million
Tropicana Casino Resort – $27.4 million
Ocean Casino Resort – 426.6 million
Harrah’s Resort Atlantic City – $21.3 million
Caesar Atlantic City Hotel & Casino – $20.3 million
Resorts Casino Hotel – $13.9 million
Golden Nugget – $12.2 million
Ballys Atlantic City $11.6 million
The gross revenue is quite impressive because, by June 2020, all these casinos were shut down and not operational.
What’s the Online Casino Industry Like in New Jersey?
New Jersey is among the 12 states in the US that legalized online casino gambling. It is quite impressive how the state can manage the activities of online casinos and land-based casinos.
In other words, it appears that New Jersey’s gambling revenue didn’t drop like other states since online casino gambling is legal in the state. Research showed that New Jersey residents opted for online gambling when the land-based casinos were shut down.
The fear of some states in the US that haven’t legalized online casino gambling is the ability to manage and regulate it in conjunction with the land-based casinos. New Jersey has shown that it is possible with the high gross gambling revenue recorded by land-based casinos in June.
The Likelihood of Atlantic City Casinos Hitting Same Benchmark in 2022
Yes, most likely, if the Atlantic City casinos keep up with their magic wand. Also, don’t forget that online casino gambling is legal in New Jersey. So if the land-based casino revenue drops, the online casino revenue can keep the state going. Finally, the New Jersey gambling industry is the envy of most states.