Atlantic City Casinos See Growth in November as iGaming and Sports Betting Thrive

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The New Jersey Division of Gaming Enforcement (DGE) has released its latest report on the performance of Atlantic City casinos for November. The report reveals encouraging growth for the casino industry after two months of consecutive declines, signaling a promising end to the year for the region’s gaming sector. Additionally, iGaming and sports betting markets continued their impressive trajectory, highlighting the expanding digital gaming landscape in New Jersey.

Atlantic City Casinos See Growth in November as iGaming and Sports Betting Thrive

Atlantic City Casino Revenue Surges to $223.9 Million

In November, the nine Atlantic City casinos generated a total gross gaming revenue (GGR) of $223.9 million, marking a 4% year-over-year increase compared to November 2023. This recovery is noteworthy as the industry had experienced declines in both September and October. Five of the nine casinos recorded significant revenue gains, leading the overall performance boost.

Borgata Leads the Market with Double-Digit Growth

Among the nine properties, Borgata Hotel Casino & Spa emerged as the top performer. Borgata recorded an impressive 11% growth in gross gaming revenue (GGR), reaching $57.5 million for the month. This robust performance reinforces Borgata’s position as the market leader in Atlantic City.

Hard Rock and Ocean Follow with Strong Gains

Hard Rock Atlantic City also reported notable growth. The property generated $44.3 million in revenue, reflecting a 7% increase year-over-year.

Following closely behind was Ocean Casino Resort, which achieved a solid 8% year-on-year growth with total revenues of $34 million in November. Ocean’s consistent upward trajectory demonstrates its growing appeal among visitors.

Resorts Casino Hotel and Golden Nugget Report Growth

The two other properties that reported increases in GGR were Resorts Casino Hotel and Golden Nugget Atlantic City:

Resorts Casino Hotel saw its revenue rise by 12% to reach $14 million.
Golden Nugget Atlantic City achieved a 7% increase, bringing in $11.7 million for the month.

These results emphasize the resilience of these properties despite broader economic challenges.

Four Casinos See Revenue Declines

While five casinos celebrated growth, the remaining four properties faced declines in revenue. These casinos include:

Bally’s Atlantic City
Caesars Atlantic City
Harrah’s Resort Atlantic City
Tropicana Atlantic City

Despite these setbacks, the overall increase in Atlantic City’s casino performance can be attributed to the calendar. November 2023 featured five Saturdays, providing an additional day of high visitor traffic that contributed to higher earnings.

iGaming Revenue Continues Its Record-Breaking Momentum

While physical casino revenues experienced modest gains, New Jersey’s online gaming sector once again stole the spotlight. The GGR from online slots and table games soared to an impressive $214 million in November. This figure represents a remarkable 25% year-over-year increase, underlining the continued strength and expansion of the iGaming market.

Notably, November’s result marks:

The fourth consecutive month of growth for the online casino sector.
The third quarter in a row where monthly iGaming revenues have exceeded $200 million.

The growing demand for digital gaming options reflects shifting consumer preferences, as more players embrace the convenience of online platforms.

Sports Betting Revenue Surges by 24%

In addition to iGaming, New Jersey’s sports betting market delivered impressive results in November. Sportsbooks reported a combined revenue of $119 million, representing a 24% year-over-year increase.

The total sports betting handle for the month reached $1.22 billion, underscoring the immense popularity of sports wagering among New Jersey residents and visitors. The majority of this revenue came from online sports betting operators, which continue to dominate the market.

Factors Driving Sports Betting Growth

Several factors contributed to the strong performance of the sports betting sector in November:

The NFL season remained a significant driver of betting activity.
Major sporting events, such as college football and NBA games, boosted engagement.
The growing adoption of mobile betting platforms ensured seamless accessibility for bettors.

Highest November Revenue in 11 Years

The strong performance across physical casinos, iGaming, and sports betting led to what DGE chair James Plousis described as the “highest November result in 11 years”. Plousis praised the continued growth of digital gaming and sports wagering, attributing these achievements to their sustained expansion and consumer demand.

Year-to-Date Gaming Revenue Surpasses $5 Billion

The cumulative performance of New Jersey’s gaming sector has been nothing short of exceptional in 2023. As of November, the year-to-date gross gaming revenue exceeded $5 billion. This milestone marks the second consecutive year in which YTD revenues have surpassed the $5 billion mark by November.

The breakdown of this figure showcases the increasing contribution of online gaming and sports betting to the state’s overall revenue:

Land-based casinos continue to generate significant revenue.
iGaming and sports betting sectors are driving double-digit growth rates, cementing their role as key pillars of the gaming industry.

The Future of Atlantic City’s Gaming Industry

The strong performance reported in November offers a positive outlook for the future of Atlantic City’s gaming industry. With ongoing investment in both physical and digital gaming platforms, the region is well-positioned to sustain this momentum.

Key Trends to Watch

Continued Growth in iGaming: The shift toward online gaming platforms will likely accelerate, driven by technology advancements and player demand.
Expansion of Sports Betting: The sports betting market will continue to thrive as operators introduce innovative features and promotions.
Revitalization of Land-Based Casinos: Physical casinos are expected to attract more visitors through enhanced amenities, events, and entertainment offerings.

Conclusion: The November Revenue

November proved to be a turning point for Atlantic City’s casinos, with five properties reporting notable revenue gains. The significant growth in iGaming and sports betting further highlights the evolving nature of New Jersey’s gaming sector. With total GGR surpassing $5 billion year-to-date, the industry remains on a strong upward trajectory, showcasing resilience and adaptability.

FAQs About Atlantic City Casinos’ Growth in November

1. How did Atlantic City casinos perform in November?

Atlantic City casinos reported a total gross gaming revenue (GGR) of $223.9 million in November, marking a 4% year-over-year increase compared to November 2023. This growth followed two consecutive months of declines.

2. Which casino led the market in November?

Borgata Hotel Casino & Spa emerged as the market leader with an 11% increase in gross gaming revenue (GGR), reaching $57.5 million for the month.

3. Which other casinos reported revenue growth?

Hard Rock Atlantic City: Revenue grew by 7% to $44.3 million.
Ocean Casino Resort: Achieved 8% growth, totaling $34 million.
Resorts Casino Hotel: Revenue increased by 12% to $14 million.
Golden Nugget Atlantic City: Reported a 7% rise, bringing in $11.7 million.

4. Did any casinos face revenue declines?

Yes, four casinos experienced revenue declines in November:

Bally’s Atlantic City
Caesars Atlantic City
Harrah’s Resort Atlantic City
Tropicana Atlantic City

5. What contributed to the overall casino revenue increase?

The presence of five Saturdays in November 2023 provided an additional day of high visitor traffic, boosting casino earnings.

6. How did New Jersey’s iGaming sector perform in November?

The iGaming sector saw record-breaking results, generating $214 million in gross gaming revenue—a 25% year-over-year increase.

7. What milestones did iGaming achieve in November?

It marked the fourth consecutive month of growth for online casinos.
It was the third month in a row where monthly revenues surpassed $200 million.

8. What factors are driving iGaming growth?

The convenience of online platforms and increasing consumer preference for digital gaming options are significant contributors to iGaming’s strong performance.