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April 16, 2023
April 16, 2023

Atlantic City Casinos Report Decline in Operating Profits in Q4 2022, Despite Increase in Net Revenues

According to data released by the New Jersey Division of Gaming Enforcement, Atlantic City’s nine casinos and three internet licensees collectively reported a 31.6% decline in operating profit in the fourth quarter of 2022. However, net revenues increased by 9.3% over 2021, exceeding $3.3 billion in 2022. The hotels’ occupancy rate went up to 73.4% in 2022 from 67.6% in 2021, and the average room rate increased from $172.88 to $177.89. Hard Rock Hotel & Casino Atlantic City was the only casino that posted double-digit percentage uptick in annual profits, with $128 million in 2022, a 19.8% increase from 2021. Other casinos posted varying trends, with Bally’s Atlantic City reporting an 85.7% increase in year-over-year GOP, while the Borgata Hotel Casino & Spa reported a […]
April 14, 2023
April 14, 2023

New York Online Sports Betting Numbers Continue To Grow

The New York State Gaming Commission has reported that online sports betting in New York continues to thrive, with a new monthly revenue record set in March 2023. New Yorkers wagered over $1.76 billion on sports during the month, which represents a 9% increase compared to the same period in 2022. Despite the monthly betting handle being slightly lower than the record, mobile sports betting operators reported a record combined revenue of $162.8 million, while the state set a new tax record of $83 million. FanDuel maintained its position as the market leader, accepting $740.1 million in wagers and reporting $79.6 million in revenues. This represents almost 49% of all revenues generated by mobile sports betting in New York. DraftKings was the next most popular […]
April 13, 2023
April 13, 2023

Okada Manila nearly doubles GGR in 1Q23

Okada Manila, owned by Universal Entertainment subsidiary Tiger Resorts Leisure and Entertainment Inc (TRLEI), saw a year-on-year increase of 92% in gross gaming revenue (GGR) in the first quarter of 2023, amounting to PHP11.57 billion ($209.01 million), and a 10% increase quarter-to-quarter. VIP play led the revenue, followed by gaming machines and mass gaming tables. Overall revenue for TRLEI during the quarter was PHP12.6 billion ($227.77 million), up 97% yearly, with adjusted segment EBITDA at PHP3.32 billion ($60.09 million), up 188% yearly and 18% quarterly. Okada Manila welcomed more than double the visitors seen in the same period in 2022, but hotel occupancy rates only rose by 1.2% year-on-year to 83.7%. The yearly comparisons were affected by “various operating constraints” due to COVID, which were […]
View NFL Weekly Projections
April 16, 2023
April 16, 2023

Atlantic City Casinos Report Decline in Operating Profits in Q4 2022, Despite Increase in Net Revenues

According to data released by the New Jersey Division of Gaming Enforcement, Atlantic City’s nine casinos and three internet licensees collectively reported a 31.6% decline in operating profit in the fourth quarter of 2022. However, net revenues increased by 9.3% over 2021, exceeding $3.3 billion in 2022. The hotels’ occupancy rate went up to 73.4% in 2022 from 67.6% in 2021, and the average room rate increased from $172.88 to $177.89. Hard Rock Hotel & Casino Atlantic City was the only casino that posted double-digit percentage uptick in annual profits, with $128 million in 2022, a 19.8% increase from 2021. Other casinos posted varying trends, with Bally’s Atlantic City reporting an 85.7% increase in year-over-year GOP, while the Borgata Hotel Casino & Spa reported a […]
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April 14, 2023
April 14, 2023

New York Online Sports Betting Numbers Continue To Grow

The New York State Gaming Commission has reported that online sports betting in New York continues to thrive, with a new monthly revenue record set in March 2023. New Yorkers wagered over $1.76 billion on sports during the month, which represents a 9% increase compared to the same period in 2022. Despite the monthly betting handle being slightly lower than the record, mobile sports betting operators reported a record combined revenue of $162.8 million, while the state set a new tax record of $83 million. FanDuel maintained its position as the market leader, accepting $740.1 million in wagers and reporting $79.6 million in revenues. This represents almost 49% of all revenues generated by mobile sports betting in New York. DraftKings was the next most popular […]
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April 13, 2023
April 13, 2023

Okada Manila nearly doubles GGR in 1Q23

Okada Manila, owned by Universal Entertainment subsidiary Tiger Resorts Leisure and Entertainment Inc (TRLEI), saw a year-on-year increase of 92% in gross gaming revenue (GGR) in the first quarter of 2023, amounting to PHP11.57 billion ($209.01 million), and a 10% increase quarter-to-quarter. VIP play led the revenue, followed by gaming machines and mass gaming tables. Overall revenue for TRLEI during the quarter was PHP12.6 billion ($227.77 million), up 97% yearly, with adjusted segment EBITDA at PHP3.32 billion ($60.09 million), up 188% yearly and 18% quarterly. Okada Manila welcomed more than double the visitors seen in the same period in 2022, but hotel occupancy rates only rose by 1.2% year-on-year to 83.7%. The yearly comparisons were affected by “various operating constraints” due to COVID, which were […]
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