Atlantic City Casinos April, 2022 Results Show Pandemic Is Over
The Atlantic City casinos delivered improved results in April 2022 that further illustrate that the COVID-19 pandemic has indeed entered the all-important endemic phase.
The New Jersey Division of Gaming Enforcement is the agency responsible for tabulating the numbers.
They reported that when including all facets of the casinos and sports betting combining both bricks and mortar and online sectors the Atlantic City casinos won $ 422 million from gamblers in April 2022.
This represents a healthy increase of approximately 20 percent versus April 2021.
This alone is not determinative, because one year ago we were dealing with a COVID-19 pandemic wave. So, the comparison is not fair.
However, the Atlantic City casino's April 2022 performance beats April 2019. This is a pre-pandemic comparison and that makes the April 2022 result even more impressive.
It is important to note that there was one more Saturday in April, 2022 versus April 2019. Still, last month is impressive by any metrics.
Of the 9 Atlantic City casinos, 5 did better in 2022 versus 2019.
When looking at the Atlantic City casino percentage gains over the past year over year, almost every casino posted double-digit gains and all 9 casinos were up versus April 2021 as follows:
- Borgata - 60%
- Bally’s - 31%
- Ocean Resort - 18.5%
- Tropicana - 17%
- Hard Rock - 15%
- Harrah’s - 12%
- Golden Nugget - 12%
- Resorts - 10.5%
- Caesar’s - 7%
These results are very encouraging as they are taking place prior to the traditionally busy summer season.
It bodes well for what should be a banner summer, 2022 season.
Internet gaming was up 27% for April 2022 versus April 2021.
For the first 4 months of 2022, when combining all forms of gambling, The Atlantic City gaming jurisdiction has generated $1.6 billion in revenue to date.
It’s interesting to note, that it is almost equally divided between bricks and mortar, (in person) gaming versus online gaming.
Regarding sports betting revenue. Reminder, the Atlantic City casinos do not keep the vast majority of these dollars that are generated. They have contractual relationships with 3rd party partners, who take the vast majority.
SOURCE: New Jersey Division of Gaming Enforcement.