For the first time in a long time, The Garden State watched its casino revenue grow.
Atlantic City, famously dubbed "America's Playground," showed a surprising uptick in casino revenue last month. After experiencing a consistent decline in revenue from January to April, May defied the trend with a remarkable performance from the city's casino industry.
In a statement to The Press of Atlantic City, Casino Control Commission Chairman James T. Plousis said: “Visitation to Atlantic City was stable with casino win surpassing internet gaming win for the first time this year. May provided a strong foundation for positive momentum during the summer season. Atlantic City’s diverse gaming, leisure, and entertainment provide something to suit every taste and there are plentiful reasons to visit and stay.”
And it could be a sign of better things to come.
An Impressive Turnaround for Atlantic City Casinos
Atlantic City casinos generated more than $265 million in revenue last month. This figure represents a 20% increase from April's $211 million, and a notable 10% hike compared to May 2024.
When you look at the past few years, you can see the trend upward.
- May 2022: $223 million
- May 2023: $227.3 million
- May 2024: $239.1 million
It appears that the Atlantic City casino industry is gearing up for a strong summer season. It is also anticipating the opening of a new boutique hotel that is modeled after the Monopoly board game.
Total Gaming Revenue Hits New Highs
The New Jersey Division of Gaming Enforcement reported a total gaming revenue of nearly $615 million last month.
This number marks the strongest monthly performance in the state for the year thus far and was anchored by growth in all segments of the industry.
iGaming and Sports Wagering: Leading the Charge
New Jersey online casino revenue soared by almost 29% to reach nearly $247 million, while sports wagering revenue leaped more than 30% to $102.5 million. The booming online gaming sector indicates an ongoing upward trend that suggests a promising future for digital gambling.
Among online operators, FanDuel led the pack with over $54 million in revenue (a 36% increase), followed by DraftKings with just over $48 million (a nearly 14% increase), BetMGM with $32.5 million (up nearly 43%), and Borgata with almost $21 million (an increase of more than 15%).
Top Performers: Leading Casinos in Atlantic City
The physical casino segment wasn't left behind.
Atlantic City's top-grossing casino remains Borgata, which reported a little more than $51 million in revenue, reflecting an increase of more than 14%. It may have been bolstered by the recent addition of a new slot machine there.
Following closely were Hard Rock with nearly $37 million (up almost 11%) and Ocean Casino with just over $30 million (an 8% increase). Ocean Casino just paid out a big jackpot to one lucky winner a few weeks ago. Harrah's was up over 8% and is expecting bigger numbers later this summer when the World Series of Poker Circuit returns in mid-August.
This competition among top venues showcases the city's physical casino landscape even amidst rising online gaming trends.
Table games experienced remarkable growth, generating more than $70 million, and increasing nearly 22%, while slot machine revenue climbed 7% to almost $195 million.
Both retail and online casinos have been nearly tied in terms of performance, so far this year. Retail properties garnered $1.12 billion in revenue over the first five months, while online casinos slightly edged out with $1.16 billion.
Tax Revenue Generated By New Jersey Casinos
New Jersey's gambling industry also generated considerable tax revenue in May.
The state's casinos and racetracks contributed to a total gross revenue tax of approximately $66.76 million for the month. This figure encompasses taxes from several categories, including casino gross revenue, internet gaming tax, retail sports wagering tax, and online sports wagering tax.
Casinos like Bally's and Borgata led the charge with significant contributions, alongside racetracks such as Meadowlands and Monmouth Park, which primarily focused on sports wagering revenues.
Year-to-date figures highlighted a robust performance in the gambling sector, with total gross revenue taxes amounting to approximately $301.69 million. The bulk of this revenue stemmed from casino activities, while contributions from sports wagering at racetracks were also noteworthy.
The casino industry's internet gaming and online sports wagering taxes were primarily bolstered by giants like CIENJ, which represents brands under the Caesars umbrella. These figures reflect New Jersey's dynamic gambling environment and its ability to generate substantial state revenue from various betting activities.
A Promising Summer for Atlantic City Casinos on Tap?
Last month marked a significant milestone for Atlantic City's casino industry, setting a positive tone for the summer. With sizable growth across both online and retail segments, the city is poised to continue its legacy as a leading destination for gaming enthusiasts.
As the dazzling lights of New Jersey's casinos continue to draw in eager players, May's impressive revenue performance not only highlights the industry's resilience but also sets a promising tone for the months ahead. With this momentum, the Garden State's gaming landscape is poised for even greater success.
After a record-breaking 2024, let's see if this upward trend can hold for the rest of 2025.
