Atlantic City’s casinos saw their largest revenue increase in years in February as the eight casinos saw a 14.7 percent increase over February 2015.
According to the New Jersey Division of Gaming Enforcement, the city’s eight casinos brought in $204 million including online revenue.
The casinos brought in $14.7 million in online revenue, up from January’s $14.6 million and a 41 percent increase over February 2015.
With the exception of November 2013, when revenue figures were skewed due to Superstorm Sandy, the February gain was the largest year-over-year percentage increase the city’s casino industry has reported in more than a decade, Casino Control Commission Chairman Matthew Levinson said.
“Six of the eight casinos were up for the month, five of them double digits,” Levinson said in a press statement.
Levinson pointed to pleasant weather for the month, extensive renovations at many of the city’s casinos and leap year, which tacked an extra day onto February, for the rise. But he also pointed to the reduced competition in the city after four casinos closed in 2014 and said the continuing positive monthly reports on casino revenue show the city’s casino market is stabilizing.
This year, through February, the casinos, including online operations, generated $394 million in gambling revenue—5 percent more than during the first two months of 2015, according to an analysis by the Press of Atlantic City.
Borgata Hotel Casino & Spa led the city’s market reporting $62.8 million in revenue, a gain of $14.2 million, or 29.3 percent, over February 2015.
Tropicana Atlantic City saw gambling revenue increase by nearly $3.1 million (14 percent); Golden Nugget added nearly $2.8 million (17.5 percent); Bally’s Atlantic City added $2.7 million (19.3 percent); Harrah’s Atlantic City added $1.9 million (7 percent); and Resorts Casino Hotel added $1.7 million (16 percent).
Caesars Atlantic City was down $2 million last month, or about 8 percent. Trump Taj Mahal, recently taken over by Wall Street mogul Carl Icahn’s firm, was down $19,000, or 0.16 percent, according to the Press
The Borgata also retained the top spot in the online market, with $4.2 million in Internet revenue, an increase of $13.4 percent from a year ago. The Golden Nugget, Tropicana, and Caesars Interactive-NJ took in about $3 million each. Resorts had $1.3 million in Internet revenue as it prepares for this month’s launch of online partner PokerStars in the state.
