It’s becoming a pretty common refrain when discussing Atlantic City’s casino revenues, but through the first half of 2015 the resort as a whole is down significantly while the remaining casinos in the city are up.
The city’s eight open casinos saw revenue grow 3.5 percent in the first half of 2015, though two of those casinos saw a decline.
Overall, casino revenue in the resort is down 11.8 percent compared to 2014, when 11 casinos were operating in the city.
Four casinos closed in 2014—the Atlantic Club, Trump Plaza, Revel and Showboat. The Atlantic Club closed in January while the other three closed at the end of the summer in 2014.
Total revenue for the remaining casinos was $1.65 billion, up from $1.6 billion last year, according to figure released by the state Division of Gaming Enforcement. Total revenue through June 2014 was $1.87 billion.
The shrinking of the market, however, has clearly helped six of the city’s casinos.
In April, May and June of this year, Atlantic City collectively earned $132.1 million, compared with $103 million in the same period last year.
Together, the open casinos have seen gross operating profit—earnings before factoring in interest payments, taxes and other large financial obligations—rise 27.4 percent, to $213 million through June.
Trump Taj Mahal and Bally’s, however, which are both in bankruptcy, reported losses in net revenue with the Taj falling 26.5 percent and Bally’s down a slight 0.6 percent at Taj and Bally’s, respectively, through June, the DGE said.
The Taj saw a $902,000 loss for the second quarter, compared with a nearly $1.8 million profit in the second quarter last year, a decrease of more than 150 percent.
Borgata Casino Hotel posted the largest gain in net revenue, reporting more than $24.6 million in additional net revenue through June.
Golden Nugget saw a $7.7 million operating profit for the second quarter, up more than 902 percent from the $776,000 profit it posted in the second quarter of 2014. Resorts saw a $4.8 million operating profit, up 153 percent from the second quarter of 2014.
