Atlantic City is not the most preferred destination for visitors during the fall season. However, New Jersey Casinos want visitors to change their mindset going forward. The Casino Association of New Jersey believes Atlantic City is still an ideal fall destination.
The president of the casino association admitted that Atlantic City was an ideal destination for the summer season. Mark Giannontonio said the beachfront region could also be an exciting fall destination and insists there is a lot to experience in the area. Giannontonio is also the president of Resorts Casino Hotel.
Mark gave examples of the things you could do while in AC. He started by advertising the Restaurant Week. Mark also recommended watching football at one of the nine casinos and assured that the city had something for everyone.
Restaurant Week is scheduled for October 1-6, 2023. There is also the Atlantic City Marathon scheduled for October 22. The marathon features eight miles of running along the oceanfront.
There are several conferences happening this fall, too. They include the New Jersey Education Association Convention, scheduled for November 5-11, and the New Jersey League of Municipalities Annual Conference, scheduled for November 14-16.
The Casino Profit is Still Down
Land-based casinos have made a gross gaming revenue of over $1.6 billion from table games and slot machines in 2023. This is a 2.3 percent or slightly over $36 million growth from January to July compared to last year, the same month.
This proves that gaming revenue has increased. Yet, casino profits are still down by almost 17 percent. However, Ocean, Caesars, and Bally’s have managed to increase their profits from 2022.
Several things could explain the low casino profits. First, casinos compete for workers. Secondly, inflation has reduced the profit margin considerably.
The months of July, August, and September are usually busy, allowing casinos to recover the profit trend. However, casinos must be able to host more people this September.
Ideally, Atlantic City casinos have over 15,000 guestrooms. Around 70 percent of these are occupied between January and June.
While this is a 1.8 percent increase from the same time last year, it is still a small margin, considering the nightly rates were an average of $166. Meanwhile, inflation has climbed by 4 percent, according to the U.S. Consumer Price Index.
Putting Their A-Game
Atlantic City casinos are not only encouraging visitors to consider the location but also putting their A-game. For example, Bally’s is using its 25-foot-wide LED video wall and its recently launched Bally Bet Sportsbook to lure new and repeat clients. The casino recently completed a $100 million renovation and is planning to host a live boxing championship in its renovated showroom on September 29, 2023.
Hard Rock also has several events to attract visitors. The casino is hosting several A-listers in the entertainment industry, including Machine Gun Kelly, Foreigner, Zac Brown Band, and Doobie Brothers.
