Atlantic City Casinos Record $200m in Revenues for January

The New Jersey Division of Gaming Enforcement has produced the monthly gaming revenue totals for casinos in Atlantic City, and the operators have done quite well for themselves. The New Jersey casinos earned a total of $211.7 million in gross gaming revenues for January 2023. This was a huge milestone for the industry, marking the 12th consecutive month that the state saw over $200 million in earnings.

Monthly Total Breakdown

January was a successful month for casinos located in Atlantic City. The $211.7 million generated for the month is the first time the state has hit over $200 million in a decade. The amount was a more than 15% increase from January 2022 and only a small 1.8% decrease from December's earnings.

According to the New Jersey Division of Gaming Enforcement, retail casino earnings were up. The regulator showed that retail earnings consisted of 48.4% of the total earnings from all verticals. When considering all gambling industries, the state actually earned just over $436 million for the month.

The retail casino total was up just over 14%. The online gaming space brought in over $152 million, a 10.9% increase from the previous year. Sports betting generated just over $72 million, a more than 20% increase from 2022. 
The solid figures from early on in 2023 could be a sign that NJ casino games will lead the industry to a record year.

There are nine casinos currently operating in New Jersey. Each provider offers slots and table games. Finishing in the top spot was Borgata Casino, bringing in just over $58.3 million in earnings. Around $41.7 million came from slots, and table games contributed over $14.5 million.

Second place for January went to Hard Rock Casino. The brand earned $35.9 million, with $25.7 million coming from slots and $10.2 million from table games. Ocean Casino claimed the third spot, generating just over $30.5 million. The slot sector of the casino brought in $19.3 million. Table games brought in over $11.2 million.

Harrah's Casino earned the fourth spot, generating $20.1 million in total earnings. Most of the earnings came from slot titles, with $15.1 million in earnings. Table games generated $4.7 million.

The remaining casinos in Atlantic City were able to see growth for January 2023. Caesars Atlantic City finished in the fifth spot, with a 5% year-over-year growth, bringing in $16.8 million. Tropicana AC saw a growth from last year of over 11% with $16.3 million in earnings. However, the month-to-month earnings for Tropicana did drop by over 11%.

Bally's AC saw a huge year-over-year boost, with more than 31% in earnings when compared to 2022. Bally's brought in $11.5 million for January 2023. The operator also saw 5.4% growth when compared to December.

Resorts and Golden Nugget rounded out the list coming in eighth and ninth place. Resorts Casino was next to last, bringing in $11.1 million. The casino was up over 20% from 2022 but down just over 1% from December.

Golden Nugget earned $11 million, which was a boost both year over year and month to month. The yearly boost was up over 5%, while the total from December was up just under 1%. 
From the total earnings from January 2023, the state generated $45.4 million in tax payments. Online gaming brought in just over $22 million in taxes, with racetracks bringing in $6.5 million. Sports betting and casinos helped to bring $2.9 million in payments.

It will be interesting to see how the industry evolves over the next few months. Will February and March's monthly totals be as high as January's? In the coming months, we shall see how much revenue the New Jersey Casino properties generate.