In the hallowed halls of Atlantic City’s illustrious gambling houses, a silent suspense filled the air as February’s numbers rolled in, revealing a dip in the casino revenue, marking it as the market’s second consecutive year-over-year monthly win decline. The well-oiled machines of chance and the felt-covered tables, once bustling centers of excitement and anticipation, faced a rare, albeit slight, falter in their otherwise consistent performance.
The city’s famed gaming palaces, a lineup of nine formidable establishments, stood as sentinels on the Jersey shore, guarding traditions of fortune and revelry. However, despite the grandeur and glittering lights, the month of February 2024 saw these bastions of gaming win notably less than during the same period in the previous year.
The report by the New Jersey Division of Gaming Enforcement (DGE), the steadfast regulator of all forms of gaming within the state, bar the state-run lottery, chronicled this unusual turn of events. According to the regulator, the gross gaming revenue (GGR), the measure of money exchanged for chips and tokens of luck, stood at approximately $211.6 million. This represented a 1.6% decline from the previous February, where the revenues soared near $215 million.
Against the backdrop of Atlantic City’s winter winds, James Plousis, chair of the New Jersey Casino Control Commission overseeing the DGE, acknowledged the drop, yet remained unalarmed, citing that the win for the casino industry during February typically hovered above the $210 million mark over the past three years.
Yet, the winter chill seemed to touch the tables more than the slots – revenue from table games had decreased by over 5% to $52.7 million, while the clinking of slot machines maintained a steady rhythm, with winnings roughly flat at $158.9 million.
The first two months of 2024 painted a sobering portrait for the nine casinos. Compared to the previous year, they were 2.4% behind, a difference translating to a $10.3 million shortfall. But within this landscape of decline, a beacon of prosperity continued to shine brightly, its glow stemming from the digital realm.
iGaming and sports betting, the vibrant and relatively new entrants to the state’s gaming offerings, kept the gales of fortune blowing in New Jersey’s favor. Revenue from online gaming, supplemmented by poker’s virtual rake, leapt by a robust 28% to $182.3 million. This surge in digital dalliance nearly broke records, standing as the state’s second-highest online gaming yield since its genesis in 2013.
On the sports betting front, the bookmakers held fast as over $1 billion was waged, keeping around $67.5 million for their coffers – a 24% increase from the year before.
When all was said and done, the total GGR for New Jersey in February, spanning all gaming verticals, soared to $461.48 million. This figure not only surpassed February of the past year but did so by a remarkable 12%.
In this tableau of numbers and trends, the Borgata, operated by MGM Resorts in the Marina District, stood as a colossus. It won a towering $98.1 million through its casino, iGaming operations, and sportsbooks, with the splits falling at $53.6 million for the casino floor and $40 million and $4.5 million for iGaming and sports betting respectively.
Resorts and the Golden Nugget also carved their names into this financial narrative. Resorts, with predominant strength online, won a stately $84.3 million overall, despite its physical casino gaining a modest $12.1 million. Meanwhile, the Golden Nugget’s casino earned $11.6 million, with its digital endeavors garnering $51.5 million, although its sportsbook noted a loss of $350,000 for the month.
Other key players such as Hard Rock, Ocean, Tropicana, Bally’s, Harrah’s, and Caesars illuminated their share of the spoils with their respective GGRs. It’s notable that the three casinos under Caesars Entertainment grouped their iGaming revenue under the Caesars Interactive license, bringing in about $5.6 million for the month in the online sphere.
Amidst this concentration on financial ebbs and flows, an important facet of New Jersey’s gaming industry persisted — a commitment to responsible gaming. March, illuminating the narrative as Problem Gambling Awareness Month, invites reflection on the darker implications of gambling addiction.
James Plousis, echoing the concerns of the industry, highlighted the time as a moment to remember that gambling, for some, can beget serious problems. He emphasized the availability of education and treatment programs and urged those in need, or who know someone in need, to call the 1-800-GAMBLER hotline or text “800GAM” to avail support.
Humans have long admired the place where hope and fortune intertwine, a dance chronicled by the bright lights and green tables of casinos. As one delves into these venues when the real-world play dwindles, now more than ever, aficionados turn to online casinos as their preferred stage. We at West Island Blog have orchestrated a composition of prestigious digital venues, and in this page, we list the top online casinos for this month, offering a carefully curated expanse where both novices and seasoned players can place their wagers with confidence and convenience.
