Internet upstages Atlantic City; Detroit returns

Internet gambling stole the spotlight in Atlantic City last month, as it shot up 114% from August 2019. Even with the renewed option of brick-and-mortar play, New Jersey punters are clearly enamored of online action and it’s here to stay. The i-gaming haul was $88 million, dominated by Golden Nugget‘s 32% market share, with Borgata a plucky second at 23%. Terrestrial casinos grossed $199 million last month, 31% off the previous year’s pace. With no poker available, table revenues were still down only 28%, compared to -31% at the slots. Borgata may be back, baby, but it was singularly unfortunate where Lady Luck was concerned: Slot win plunged 44% and the tables tumbled 38%. The Caesars Entertainment quartet was pretty average, with tables -26% and slots down 26%. That said, CZR properties are tracking down only 28% against JP Morgan analyst Joseph Greff‘s -45% forecast.

Star performer was Ocean Casino Resort, beating the crowd-limit odds with a 1.5% increase to $24.5 million. The Golden Nugget may have cleaned up online but it was taken to the cleaners terrestrially, plummeting 55% to $9 million. Borgata was, as usual, the top grosser with $40.5 million but that was a 44% dive. Second-place Hard Rock was off only 14.5% for $33 million. Resorts Atlantic City grossed $14 million, a 26.5% declivity. Getting back into the Caesars foursome, Harrah’s Resort was down 31% to $21.5 million, company favorite Caesars Atlantic City grossed even less—$21 million in a 31.5% slippage, Bally’s Atlantic City ground out $15.5 million for a better than average -17.5% and Tropicana Atlantic City notched an even $20 million, falling 37%.