{"id":887,"date":"2023-04-16T02:15:53","date_gmt":"2023-04-15T23:15:53","guid":{"rendered":"https:\/\/xxbet-company.com\/atlantic-city-casino-revenue-up-six-percent-sportsbooks-win-big-on-march-madness\/"},"modified":"2023-04-16T02:15:53","modified_gmt":"2023-04-15T23:15:53","slug":"atlantic-city-casino-revenue-up-six-percent-sportsbooks-win-big-on-march-madness","status":"publish","type":"post","link":"https:\/\/xxbet-company.com\/es\/atlantic-city-casino-revenue-up-six-percent-sportsbooks-win-big-on-march-madness\/","title":{"rendered":"Atlantic City Casino Revenue Up Six Percent, Sportsbooks Win Big on March Madness"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_34 counter-flat ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Tabla de contenidos<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1'><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/xxbet-company.com\/es\/atlantic-city-casino-revenue-up-six-percent-sportsbooks-win-big-on-march-madness\/#Oddsmakers_Win_March_Madness\" title=\"Oddsmakers Win March Madness\">Oddsmakers Win March Madness<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/xxbet-company.com\/es\/atlantic-city-casino-revenue-up-six-percent-sportsbooks-win-big-on-march-madness\/#Gaming_Industry_Continues_Growth\" title=\"Gaming Industry Continues Growth\">Gaming Industry Continues Growth<\/a><\/li><\/ul><\/nav><\/div>\n<p class=\"p1\">Atlantic City casino revenue from the nine casinos\u2019 brick-and-mortar operations was nearly 6% richer last month.<\/p>\n<figure aria-describedby=\"caption-attachment-268903\" data-style=\"width: 858px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-post-thumbnail-858xAUTO wp-image-268903\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/04\/VLIOIPKSKNAO7KLA2WKZ537LWU-858x572.jpg\" alt=\"Atlantic City casinos gross gaming revenue\" width=\"858\" height=\"572\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/04\/VLIOIPKSKNAO7KLA2WKZ537LWU-858x572.jpg 858w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/04\/VLIOIPKSKNAO7KLA2WKZ537LWU-430x287.jpg 430w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/04\/VLIOIPKSKNAO7KLA2WKZ537LWU-302x200.jpg 302w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/04\/VLIOIPKSKNAO7KLA2WKZ537LWU-238x158.jpg 238w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/04\/VLIOIPKSKNAO7KLA2WKZ537LWU-194x128.jpg 194w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/04\/VLIOIPKSKNAO7KLA2WKZ537LWU.jpg 1200w\" sizes=\"(max-width: 858px) 100vw, 858px\" title=\"\"><figcaption class=\"text-description\">Atlantic City casinos continue to win more money on their gaming floors, but resort leaders say profits are being reduced by ongoing increased overhead and higher employee costs. Brick-and-mortar casino gaming revenue in March 2023 totaled $228.6 million. (Image: <em>AP<\/em>)<\/figcaption><\/figure>\n<p class=\"p1\">The New Jersey Division of Gaming Enforcement (DGE) reported today that land-based casino income totaled about $228.6 million in March 2023. That\u2019s up 5.6% from March 2022.<\/p>\n<p class=\"p1\">The strong monthly in-person gross gaming revenue (GGR) report comes just days after the casinos reported <a href=\"https:\/\/www.casino.org\/news\/atlantic-city-casino-profits-decline-five-percent-in-2022\/\" rel=\"nofollow noopener\" target=\"_blank\">reduced profit margins<\/a> for their 2022 operations. Despite 2022 brick-and-mortar GGR increasing 9% from 2021 and almost 4% higher than pre-pandemic 2019, the casinos cited higher overhead for their reduced bottom lines.<\/p>\n<p class=\"p1\">Further gaming growth, however, could help steady the industry\u2019s ship. James Plousis, chair of the New Jersey Casino Control Commission, painted an optimistic outlook after Atlantic City casinos posted their best March in a decade.<\/p>\n<blockquote class=\"main-blockquote\">\n<p class=\"p1\">Casino win reached its highest level for March in 10 years, showing that Atlantic City\u2019s visitors are taking advantage of its many diverse offerings,\u201d Plousis commented. \u201cThis is an example of how Atlantic City\u2019s operators have smartly invested capital to add exciting new attractions and appealing accommodations.\u201d<\/p>\n<\/blockquote>\n<p class=\"p1\">Retail slots accounted for $164.7 million of the brick-and-mortar revenue, while table games represented the remaining $63.9 million.<\/p>\n<h2 class=\"p1\"><span class=\"ez-toc-section\" id=\"Oddsmakers_Win_March_Madness\"><\/span><b>Oddsmakers Win March Madness<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"p1\">The favorites largely didn\u2019t prevail during last month\u2019s NCAA Men\u2019s Division I Basketball Tournament \u2014 aka March Madness. And the upsets regularly delivered oddsmakers the upper hand against the public.<\/p>\n<p class=\"p1\">Bettors risked $1.025 billion on sports in March 2023 \u2014 down 8.5% year-over-year. But oddsmakers fared much better than they did in March 2022.<\/p>\n<div class=\"callout\">\n<p class=\"p1\">New Jersey oddsmakers kept $219.9 million of the $1.025 billion wagered on an impressive 21.4% hold.<span class=\"Apple-converted-space\">\u00a0 <\/span>In March 2022, the sportsbooks kept only $157.4 million of the more than $1.12 billion bet.<\/p>\n<\/div>\n<p class=\"p1\">New Jersey is home to both in-person sports betting at casinos and horse racetracks, as well as online sportsbooks. The bulk of the wagering activity is facilitated over the internet. Of the $1.025 billion risked last month, about $975.2 million \u2014 or 95% \u2014 was wagered online.<\/p>\n<h2 class=\"p1\"><span class=\"ez-toc-section\" id=\"Gaming_Industry_Continues_Growth\"><\/span><b>Gaming Industry Continues Growth<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p class=\"p1\">One wouldn\u2019t know that the US economy remains unsettled by only looking at the gaming data reports from the New Jersey DGE.<\/p>\n<p class=\"p1\">Along with GGR from iGaming and online poker, statewide gaming revenue in March 2023 totaled $487.4 million. That\u2019s a 15% year-over-year premium. The gaming revenue is exclusive of the state lottery, parimutuel wagering, and charitable games of chance.<\/p>\n<p class=\"p1\">Through the first quarter of the year, New Jersey\u2019s gaming income is upwards of $1.33 billion. That\u2019s 13.4% higher \u2014 or $157.8 million \u2014 richer than the first three months of 2022.<\/p>\n<p class=\"p1\"><strong>New Jersey gamblers lost more than <a href=\"https:\/\/www.casino.org\/news\/atlantic-city-casino-win-in-2022-tops-2019-but-inflation-hurt\/\" rel=\"nofollow noopener\" target=\"_blank\">$5.2 billion last year<\/a>, a record high. The revenue surge was 10% higher than in 2021 and 50% better than in pre-pandemic 2019.<\/strong><\/p>\n<p class=\"p1\">2023 is headed for yet another banner year despite economic concerns. That has observers optimistic about the remaining nine months.<\/p>\n<p class=\"p1\">\u201cBrick-and-mortar revenue, traditionally slow in these off-peak months, grew year-over-year by 5.6%, internet gaming is showing no sign of slowing with a monthly year-over-year increase of 17%, and sports wagering, fueled by March Madness, recorded an incredible 82% revenue increase year-over-year for the month,\u201d concluded Jane Bokunewicz, director of Stockton University\u2019s Lloyd D. Levenson Institute of Gaming, Hospitality, and Tourism.<\/p>\n<p>The post <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\/atlantic-city-casino-revenue-up-sportsbooks-win-big\/\" target=\"_blank\">Atlantic City Casino Revenue Up Six Percent, Sportsbooks Win Big on March Madness<\/a> appeared first on <a rel=\"nofollow noopener\" href=\"https:\/\/www.casino.org\/news\" target=\"_blank\">Casino.org<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Atlantic City casino revenue from the nine casinos\u2019 brick-and-mortar operations was nearly 6% richer last month. Atlantic City casinos continue to win more money on their gaming floors, but resort leaders say profits are being reduced by ongoing increased overhead and higher employee costs. Brick-and-mortar casino gaming revenue in March 2023 totaled $228.6 million. (Image: <a href=\"https:\/\/xxbet-company.com\/es\/atlantic-city-casino-revenue-up-six-percent-sportsbooks-win-big-on-march-madness\/\" class=\"more-link\">&#8230;<\/a><\/p>","protected":false},"author":1,"featured_media":888,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/posts\/887"}],"collection":[{"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/comments?post=887"}],"version-history":[{"count":0,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/posts\/887\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/media\/888"}],"wp:attachment":[{"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/media?parent=887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/categories?post=887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xxbet-company.com\/es\/wp-json\/wp\/v2\/tags?post=887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}