{"id":865668,"date":"2024-09-17T11:54:37","date_gmt":"2024-09-17T18:54:37","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/shop\/?p=865668"},"modified":"2024-09-17T11:54:39","modified_gmt":"2024-09-17T18:54:39","slug":"atlantic-city-and-other-good-news","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/blog\/atlantic-city-and-other-good-news\/","title":{"rendered":"Atlantic City and other good news"},"content":{"rendered":"\n

Even as casino barons<\/strong> moan gloom and doom, and rend their garments, Atlantic City <\/strong>has another good month. August saw gambling halls up 5% from last year and 3% higher than in 2019. The overall gross was $294 million, boosted by slots (+5%) and table games (+4%) alike. Shocklingly (not), Borgata<\/strong> was out front with $74 million, up 1.5%. Its staying power is truly remarkable. Hard Rock Atlantic City<\/strong> climbed 9% to $55.5 million and Ocean Casino<\/strong> Resort<\/strong> leapt 11.5% to $44 million. So the top tier was really kicking ass.<\/p>\n\n\n\n\n\n\n\n

As for the Caesars Entertainment<\/strong> threesome, it had a rare good month. Business was evenly balanced, with Harrah’s Resort<\/strong> scoring $25 million (+2.5%), Caesars Atlantic City<\/strong> grossing $24 million (a 9% leap) and Tropicana Atlantic City<\/strong> right there with $25 million (flat). Despite having the Boardwalk’s only revenue-negative month (-8.5%), Resorts<\/strong> Atlantic City<\/strong> led the grind joints with $16 million. Bally’s Atlantic City<\/strong> hopped 4% to $15.5 million and Golden Nugget <\/strong>vaulted 11.5% to $14.5 million. And the good news doesn’t stop there.<\/p>\n\n\n\n

iGaming brought in $198.5 million, a 28% leap. DraftKings<\/strong> led with $50 million and other contenders were BetMGM<\/strong> ($44 million) and FanDuel<\/strong> ($42.5 million). Caesars Palace Online<\/strong> was in there swinging with $19 million. Online sports betting win plummeted 35% to $62.5 million, however, on marginally lower handle of $699 million. DraftKings got walloped, garnering only $15.5 million and ceding superiority to FanDuel ($24 million). Others of consequence were BetMGM ($5.5 million), Fanatics<\/strong> ($3.5 million) and Caesars Sportsbook<\/strong> ($3 million). Less consequential were ESPN Bet<\/strong> ($2.5 million) and BetRivers<\/strong>, which couldn’t even scare up a million.<\/p>\n\n\n

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Casinos and OSB<\/strong> also put in good showings in Massachusetts<\/strong>. Gambling halls were up 5.5% (21% over 2019), led by Encore Boston Harbor<\/strong> with $65 million, up 6%. MGM Springfield<\/strong> gained a point to $23.5 million, while Plainridge Park<\/strong> jumped 12% (and 22% from before Covid-19<\/strong>) with $14.5 million. Sports betting brought in $34 million, on a low hold percentage (7.5%) but with 46% more winnings than a year ago. Handle was a boffo $440 million. Caesars Sportsbook<\/strong> put in a poor showing but native son DraftKings<\/strong> led with $17 million. FanDuel <\/strong>made $11 million and the rest was crumbs: BetMGM<\/strong> ($2.5 million), ESPN Bet<\/strong> ($1.5 million) and Fanatics <\/strong>($1.5 million).<\/p>\n\n\n\n

A vigorous month<\/strong> of August was enjoyed by Indiana<\/strong> casinos, up 11% year\/year and 13% from 2019. But that was all driven by Terre Haute Casino<\/strong> in\u2014you guessed it\u2014Terre Haute<\/strong>, as well as by Hard Rock Northern Indiana<\/strong>. On a same-store basis, gambling dens did 5% better than last year but 8% below 2019. Tiny Rising Sta<\/strong>r made a case for itself, up 5.5% to $4 million but too late\u2014Full House Resorts<\/strong> is pushing as hard as possible to move to the Fort Wayne<\/strong> area and lawmakers are eager to concur. Churchill Down<\/strong>s drove $12 million from its Terre Haute powerhouse while Hard Rock in Gary<\/strong> continued to dominate with $38 million, an astonishing +19%, shrugging off Bally’s Casino<\/strong> in Chicago<\/strong> like the irrelevance that it is.<\/p>\n\n\n

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In the topmost tier of the Hoosier State, there was Hard Rock and there was Everybody Else. Horseshoe Hammond<\/strong> continues to sink, down 15.5% to $20.5 million. It hasn’t had a good month since Hard Rock debuted. Ameristar East Chicago<\/strong> hung in there with $15 million, off 1.5%, while Blue Chip<\/strong> hopped 6.5% to $12 million. The star of the southeren tier was Caesars Southern Indiana<\/strong>, a boffo $23 million, leaping 23%. Bally’s Evansville<\/strong> grossed $15 million (flat), Belterra Resort<\/strong> leapt leapt 13% to $8.5 million and French Lick Resort <\/strong>subsided 4% to $7 million. In the Indianapolis<\/strong> area, Horseshoe Indianapolis<\/strong> faded 6% to a still-impressive $23 million, while Harrah’s Hoosier Park<\/strong> cantered +16% to $19 million, a real contender.<\/p>\n\n\n\n

Sports betting boomed, too, up 36% to $32 million, on handle of $308 million (+29%). DraftKings<\/strong> edged FanDuel<\/strong>, $10 million to $9.5 million. Penn Entertainment<\/strong>‘s retail offerings pushed ESPN Bet<\/strong> just over the $1 million Mendoza Line. BetRivers<\/strong> was not so fortunate. Other operators of interest were Caesars Sportsbook <\/strong>($2 million), Bet365<\/strong> ($1 million), BetMGM<\/strong> ($3 million) and Fanatics<\/strong> ($1 million).<\/p>\n\n\n\n

July sports betting<\/strong> numbers for Illinois<\/strong> have just crossed the transom and the Land of Lincoln saw good action for OSB providers, who need it to offset higher taxes. Handle jumped 25% to $762 million, of which operators kept $71 million (+18%). Parlays or sucker bets, if you prefer, represented over a quarter of the handle and more than half the revenue. Were we not meant to be shorn by OSB, we guess God wouldn’t have made us sheep. FanDuel<\/strong> outpaced crybaby DraftKings<\/strong> $28.5 million to $24 million. Fanatics<\/strong>\u2014can you believe it?\u2014was third with $5 million. Maybe Michael Rubin<\/strong>‘s seemingly daffy business plan has some merit to it. Close behind with $5 million was BetRivers<\/strong>, trailed by ESPN Bet<\/strong> ($3.5 million), Caesars Sportsbook<\/strong> ($2.5 million) and BetMGM<\/strong> ($2.5 million).<\/p>\n\n\n\n

Heading into the<\/strong> great state of Michigan<\/strong>, we find that iGaming continues to be a smash, up 29% to $197 million for August. Deeply entrenched BetMGM<\/strong> prevailed with $52.5 million, contested by FanDuel <\/strong>($48.5 million) and DraftKings<\/strong> ($44 million). Further back were Caesars Palace Online<\/strong> ($15 million), BetRivers<\/strong> ($13 million) and Hollywood Casino<\/strong> ($4 million). Sports betting win was also boffo, up 18% to $27.5 million on $280 million in handle (+28%). Promotional layouts were a whopping $11 million, though. This time, BetMGM ($4.5 million) was decisively bested by FanDuel ($11 million) and DraftKings ($7.5 million). Fanatics<\/strong> and ESPN Bet<\/strong> both tallied $1 million while Caesars Sportsbook<\/strong> and BetRivers didn’t cross our Mendoza Line.<\/p>\n","protected":false},"excerpt":{"rendered":"

Even as casino barons moan gloom and doom, and rend their garments, Atlantic City has another good month. August saw gambling halls up 5% from last year and 3% higher than in 2019. The overall gross was $294 million, boosted by slots (+5%) and table games (+4%) alike. Shocklingly (not), Borgata was out front with […]<\/p>\n","protected":false},"author":83928,"featured_media":852727,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[1728],"tags":[],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.lasvegasadvisor.com\/shop\/wp-content\/uploads\/2024\/02\/BOR_Exterioir_Borgata_3CR_2017_20220822154503318-scaled.jpg?fit=2560%2C1440&ssl=1","_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts\/865668"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/users\/83928"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/comments?post=865668"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts\/865668\/revisions"}],"predecessor-version":[{"id":865670,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/posts\/865668\/revisions\/865670"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/media\/852727"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/media?parent=865668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/categories?post=865668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/shop\/wp-json\/wp\/v2\/tags?post=865668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}