Atlantic City’s Casinos See 5.5 Percent Revenue Increase for June

Sat, Jul 18, 2015

Atlantic City’s surviving eight casinos saw a revenue bump of 5. 5 percent in June over 2014. But, counting three casinos that closed since June 2014, the city’s overall revenue was down 8.2 percent. Still, the numbers continue to indicate that the downsizing of the market has helped the remaining casinos.

It’s getting to be a familiar story in 2015 as revenues for Atlantic City’s remaining casinos was up for June, but revenue for the city as a whole—counting three casinos that have closed since June 2014—is down.

According to the New Jersey Division of Gaming Enforcement, four of the eight remaining casinos had a good June and collectively for all eight revenue were up by 5.5 percent over June of last year.

Borgata, Golden Nugget and Resorts all saw revenues jump by at least 16 percent

However, when counting the revenue for three casinos that have closed in the city since June 2014, revenue was down by 8.2 percent.

The surviving casinos have seen revenue up by 4.2 percent over the first half of the year, but overall casino winnings are down by 10.1 percent this year.

In June, online gambling revenue was up 22.8 percent over last year and for the first half of 2015 it is up by 14.2 percent. The city’s online sites took in $11.7 million, down 6.5 percent from May.

The Borgata/party Poker/Pala alliance was market leader with $3.55 million. Caesars Interactive Entertainment New Jersey reported total revenue of $2.64m, a slight improvement over the previous month’s $2.6m.

Tropicana made $2.56m online, essentially flat from May’s numbers and the Golden Nugget took in $2.53m down 17 percent from May.  Resorts Casino Hotel, which only began online operations this February, reported revenue of $400k, up from $325k in May.

For the year-to-date, the state’s licensed online operators have generated revenue of just under $72m, a 14.2% improvement over the first six months of 2014.

Among the land-based casinos, Borgata saw a 16.8 percent increase to $60.3 million; Golden Nugget took in $19.7 million, up 30.8 percent; and Resorts took in $14.1 million, up 22.75 percent. Harrah’s had revenue of $31.8 million, up 7.3 percent.

Bally’s was at $17.4 million, down 3 percent; Caesars took in $28.2 million, down 2.4 percent; and Tropicana made $27.2 million, down 1.5 percent.

The Trump Taj Mahal, which remains in a controversial bankruptcy fight, made $15.3 million, down 23.5 percent.

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