Atlantic City posts revenue growth despite downturn at some venues
CASINOS in Atlantic City have shown considerable year-on-year growth for the month of September, despite several prominent venues showing a considerable decline in revenue.
The New Jersey Division of Gaming Enforcement (DGE) records show the nine casinos of Atlantic City posted a brick-and-mortar gaming revenue of almost $232 million in September, a 7.7% increase compared to last year. This was, however, less than the $270 million brick-and-mortar gains reported in August.
September saw the market make gains with slots going up by 8.6% to $166.8 million while table games increased by 5.5% to 65.2 million.
The overall market rise was 2% to $1.89 billion year-to-date with slots increasing by 3.3% to $1.36 billion and table games declining by 1.3% to $528.5 million.
In addition, the overall take of casinos increased 15.5% to $272.2 million, partly due to the $14.5 million revenue from sports betting and $25.7 million from online gambling.
Despite September posting a rise in revenue, six out of the seven casinos witnessed a major year-on-year decline. Tropicana was the only casino to make gains with a 0.5% rise in revenue to $29.9 million.
Borgata took the lead with $60.5 million despite falling 13.5% followed by Harrah’s, which posted $27 million with a 13.7% decline from September 2017.
Caesars was the highest hit with a 23.2% decline to 22.9 million. The others are Golden Nugget ($18.3m, -3.2%), Bally’s ($16.6m, -6.5%) and Resorts ($15.8m, -11.2%).
The two new casinos in Atlantic City, Hard Rock Atlantic City posted $25.9 million in revenue, with Ocean Resort Casino generating $14.9 million, a decline of $5 million from August.