In an impressive 20-month streak, gaming revenue has been on the rise for Atlantic City casinos, with January being the seventh consecutive month of double-digit growth.

“2020 is off to a promising start for Atlantic City,” said Steve Callender, president of the Casino Association of New Jersey and senior vice president of Eastern regional operations for Tropicana Atlantic City’s parent company, Eldorado Resorts. “The city continues to see increased sports betting and tourism, two important economic drivers. I look forward to a year of continued progress in 2020.”

• The Golden Nugget took in the most money of any Atlantic City casino in April because it has the most successful internet operation. It saw $27.6 million in revenue for the month, a decline of 6%.
• A ccording to data released Monday by the New Jersey Division of Gaming Enforcement, significant year-over-year declines in brick-and-mortar casino revenue resulted in a nearly 10% overall dropoff for the entire industry. Atlantic City’s nine casinos reported $260.86 million in total gaming revenue last month, compared with $288.6 million in November 2019. Statewide, the total.
• For the year, though, Atlantic City's casinos won $3.3 billion, which is down 6.9 percent from 2010. It marked the fifth year in a row that Atlantic City casino revenue has declined, hurt.

And all nine of the city’s casinos are feeling the growth.

On Monday, New Jersey gambling regulators revealed that the nine Atlantic City casinos generated combined slots-and-table-games revenue of $199m in August, a 30.5% decline from August 2019 but.

According to Ocean Casino Resort CEO Terry Glebocki, their slot revenues were especially impressive, increasing a whopping 87% since last January. Glebocki says they will continue investing in their property with the addition of the new high limit slot parlor, Asian gaming salon, and VIP lounge.

Atlantic City Gaming Revenue By Year

Atlantic City’s newest properties, Hard Rock Hotel & Casino Atlantic City and Ocean Casino Resort, are to thank for much of the city’s booming revenue increase. They ranked third and sixth in the market in their total revenue from tables and slots. That’s a 36% increase compared with 2019’s levels. Altogether, the city saw their tables and slots revenue go up 8.3%.

According to data released Wednesday by the state Division of Gaming Enforcement, casinos reported a total gaming revenue of $270.5 million last month. That’s a 22.6% increase, or $50 million, from last January.

James Plousis, Casino Control Commission Chairman, said “revenue from slots, table games, internet waging, and sports wagering all grew.” Adding that:

“Internet and sports wagering did particularly well, bolstering the industry’s performance in the middle of the traditional offseason.”

Online Revenue is Booming

In a series of firsts, Internet gaming revenue passed the $55 million mark in January. There has been a 64% increase in revenue last year, which is over a $21 million jump.

Of that $55 million, close to half of that amount came from Golden Nugget alone, with them dominating $21.2 million of the online gaming pie.

Atlantic City Casino Revenue By Year Chart

Exciting even still, is that, according to industry experts, online casino gaming has yet to hit its “sweet spot” in the state.

According to Eric Ramsey, gaming analyst for PlayNJ.com, if current revenue patterns continue, hitting $700 million is “within reach in 2020, which would have been inconceivable just a few years ago.”

Sports Betting is Largely to Thank

“The industry’s ability to find new areas of growth, along with the symbiotic relationship that exists with online sports betting, will keep online casino gambling moving forward,” Ramsey said.

Atlantic City Casino Revenue By Year

It’s no secret. Sports betting is huge money in the world of wagering, and Atlantic City is cashing in on it. The city’s sports betting revenues are up 139.9%, resulting in a $23.4 million increase in revenue for the city’s casinos and their online/mobile partners.

Sports wagering even brings in gamblers who end up staying for additional gaming experiences. According to Plousis:

“Guests who came to wager on sports events took the opportunity to explore Atlantic City’s abundant gaming and non-gaming option. Casino executives I’ve spoken with were very pleased that customers stayed longer to enjoy the city’s diverse dining and entertainment offerings. Making investments that lead to positive customer experiences can provide strong competitive advantage for Atlantic City.”

New Jersey Could Possibly Out-Rank Nevada

That numbers for last month saw $540 million legally wagered on sports, thanks to the wide variety of highly-anticipated, annual NFL sporting events going on at the time, including the NFL playoffs and college football championship games.

With the current trajectory of gaming earnings in the state, betting experts believe that New Jersey won’t only go toe-to-toe with Nevada, the nation’s top-earning gambling state, but that it will surpass it in time. While January saw New Jersey earn over $500 million in revenue, Nevada, which earned $497.5 million in January 2019, has yet to surpass the $500 million mark.

“New Jersey could very well top Nevada, not just in January, but for the foreseeable future,” said Dustin Gouker, another lead analyst for PlayNJ.com. “And assuming that happens, we could be seeing the beginning of New Jersey’s more permanent place as the top market in the country.”