The Atlantic City gambling market generated a record $500 million in revenue in August 2023
The city's nine land-based casinos collectively generated $280.3 million (27 billion rubles), reflecting a 2.3% increase compared to the previous year. The iGaming sector contributed $155.3 million (around 15 billion rubles), marking an 18.1% rise from 2022. The sports betting sector also saw improved financial performance, with gross revenue reaching $96 million (9.3 billion rubles), up 47.1% from August of last year.
When examining the individual performance of land-based gaming establishments, the top three performers were highlighted.
James Plousis, chairman of the New Jersey Casino Control Commission, praised the success of Atlantic City's gaming industry, noting that the casino-hotels achieved the second-highest total gaming revenue since their inception and the best results in 18 years. Plousis also emphasized the impressive figures from online gaming and sports betting, underscoring their contributions to the overall success of the sector.
Online gaming has become a significant revenue source for Atlantic City's gambling market, accounting for nearly one-third (32.7%) of the entire industry during the peak of the summer tourist season.
Despite the record total gross revenue, operators have struggled to convert this into profit due to rising costs, particularly in labor. While real revenues have increased, they have yet to reach pre-pandemic levels.
Meanwhile, Las Vegas casino resorts are looking to hire over 10,000 employees.
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