In recent times, the casino industry has recorded high numbers of membership due to increasing demand in sports betting and online casino. However, 2020 wasn’t the best year for land-based casinos in Atlantic City as gross gaming revenue fell by two-thirds in the second quarter of the year. The month of July brought great promise with the reopening of nine casinos in the city. The revenue decline came down to 20.9% that month and then 7.5% in the month of August.
New revenue sources indicate a growth in gross gaming revenue in the last months of the year.
Online casinos boom regardless of the weather
Regardless of the weather, come summer, spring, or winter, online casinos remain unaffected. Unlike land-based casinos, online casino brands have a reliable revenue source that will last well into the winter.
Revenues from online casinos have been on the rise with between $41 million and $49 million reported in the last five months of the previous year. These figures were doubled in 2020 between the months of April to August. Revenue reported during that period was between $80 million and $88 million. The sharp rise of revenue has been attributed to the Covid-19 pandemic that kept punters locked up in their homes.
With land-based casinos far from reach, gamblers had to look to other sources for fun, excitement, and cash rewards.
Sport betting revenues also got their share of the cake. The NBA, NHL, and MLB were the major headliners boosting sports revenue by up to 50% more than the previous year compared to August 2019. Sports betting venues raked in as much as $39.5 million.
With major sports now completed for the calendar year, sportsbook brands have to rely on the Major League Baseball postseason in October to keep sports betting numbers going.
While sports betting represents a huge part of the total industry revenue, brick-and-mortar casinos still remain the major headliners. And though casino indoor capacity capped at 25% in July, things are expected to take a positive turn in the coming months.
Are Atlantic City poker tables coming back?
Poker seems to be another entertaining casino game still missing at Atlantic City. With the pandemic still ravaging most parts of America, poker tables are nothing but a hotpot for transmitting infections. These tables are usually crowded with plenty of interactions that would make the pandemic situation even worse.
Las Vegas casinos have had some luck with making things work at the poker tables, though with some limitations. However, Atlantic City casinos are yet to open their poker rooms to punters. Casinos like Ocean Casino Resort even moved their poker tables to make room for other games in order to attract more revenue.
Hopefully, Atlantic City’s poker tables will make a comeback as the pandemic dies down so that punters can return to their favorite seat at the table. With the current happenings in America, the pandemic crises would soon be a thing of the past.