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Posted on: July 16, 2021, 12:22h.
Final up to date on: July 16, 2021, 01:43h.
Devin O’Connor Learn Extra
Atlantic Metropolis on line casino brick-and-mortar gross gaming income (GGR) totaled $214.5 million in June 2021. That’s a lack of 9 p.c, or $21.5 million, in contrast with June 2019.
A crowded Atlantic Metropolis Boardwalk is seen in June of 2019, previous to the COVID-19 pandemic. Gamblers are returning, because the coronavirus disaster subsides, however Atlantic Metropolis on line casino land-based income stays considerably decrease in contrast with 2019. (Picture: Press of Atlantic Metropolis)
The headlines are studying as if the gaming market in New Jersey’s on line casino city is better than ever. The Related Press title reads, “Atlantic Metropolis On line casino Win $345 million in June, New Month-to-month Document.”
That report is basically attributable to iGaming and sports activities betting — two gaming verticals which can be far much less worthwhile than land-based operations.
However, the AP headline is nonetheless appropriate. Whole GGR from land-based gaming, iGaming slots, desk video games, and poker rake, and sports activities betting on-line and at casinos and horse racetracks, totaled $345 million in June. It’s the all-time highest GGR quantity for any June within the historical past of New Jersey’s gaming business, which dates again to 1978.
Breaking Down Numbers
Atlantic Metropolis’s 9 casinos gained $154.1 million from slots and $60.4 million on their desk video games final month. In 2019, those self same 9 brick-and-mortar venues reported $168.3 million in slot GGR, and $67.7 million from tables.
The surge in June 2021 gaming income is a results of ongoing will increase in on-line play. Web casinos gained greater than $107 million from gamblers final month. In 2019 — simply $38 million.
Sports activities betting has additionally drastically expanded over the previous two years. Sportsbook GGR final month was almost $71.3 million. In 2019 — simply $9.7 million.
Whole June 2019 GGR from all verticals was $283.7 million. Whereas greater than $61 million was gained by gaming operators in June 2021, that doesn’t essentially imply issues are alive and effectively in Atlantic Metropolis.
The bodily casinos share their iGaming and sports activities betting revenues with their third-party operators. It’s a indisputable fact that Exhausting Rock Atlantic Metropolis President Joe Lupo says isn’t being reported precisely.
Atlantic Metropolis really hasn’t seen large will increase in land-based income for fairly a while. It’s all about on-line and sports activities betting,” Lupo informed WOND radio in January.
“We’d like extra transparency in how the third-party on-line corporations are doing,” the Exhausting Rock exec added. “We’d like assist with these [Atlantic City] properties. We have to see town revitalized, and that’s not going to occur when the media is reporting will increase after they add in on-line income, and that income goes to third-party corporations that don’t have any stake within the [Atlantic City] recreation.”
Others See Otherwise
Lupo may need some extent, however others say $60 million in further income is greater than sufficient to make up for a number of the land-based losses. And it’s value mentioning that income for Atlantic Metropolis casinos totaled $95.1 million within the first quarter of 2021. Eight of the 9 casinos turned a revenue, Bally’s being the exception.
“Atlantic Metropolis’s complete gaming income grew 24 p.c in comparison with pre-pandemic June 2019,” New Jersey On line casino Management Fee James Plousis stated in an announcement to On line casino.org. “For 3 consecutive months, its progress has exceeded 20 p.c in contrast with the sturdy outcomes of 2019.
“I’ve seen first-hand that visitation to Atlantic Metropolis is on the rise, vacationers are joyful to be coming again, and the summer season is off to a constructive begin,” Plousis concluded.
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