Atlantic City Casino Revenue Drops Over 40% Compared to Last March
Nearly one month after Atlantic City's casinos closed due to COVID-19, March's industry numbers, released today, show a drop of over 40% in gaming revenue compared to last March -- but there was one bright spot: internet gaming.
According to a report released today by the New Jersey Division of Gaming Enforcement,
- Total gaming revenue for March was $163.5M compared to $294.0M in March, 2019, reflecting a 44.4% decrease.
- Casino win for March was $85.5M, decreasing 61.7% from the same month last year.
- Internet gaming win was $64.8M in March compared to $39.1M in the prior period, reflecting an increase of 65.6%.
- Sports wagering gross revenue was $13.2M for the month.
For the first three months, the industry’s total gaming revenue was $751.3M through March, 2020, compared to $764.8M in the prior period, reflecting a decrease of 1.8%.
Internet gaming win increased 64.5% to $171.9M when compared to the prior period.
Speaking to The Press of Atlantic City, James Plousis, chairman of the Casino Control Commission, said, "As a surprise to no one during this crisis, the March revenue numbers show the dramatic impact of the closures. I know that, at this time, the paramount concern for all of the casino licensees in Atlantic City is the safety of their employees and customers. I share their concern."
According to industry experts, whether this dormancy period means life or death for certain gaming halls depends on how long doors must stay closed. "If it goes beyond a month, I think that's when it's going to get very serious," Roger Gros, publisher of Global Gaming Business magazine said in late March. "You're going to see casinos kind of have to decide where they're going to go with this — are they going to stay in business?"
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