Atlantic City Casinos Enjoy Strong Results in August
Last Wednesday, the New Jersey Division of Gaming Enforcement revealed its monthly results, revealing the Garden State has recorded a minor year-on-year decrease in revenue.
However, all seven casinos currently operating in Atlantic City managed to end August on the positive note.
Numbers Tell Everything
The overall casino win during the month of August reached $223.6 million, dropping 2.7% when compared to the amount of $229.8 million generated a year ago. On the other hand, internet gaming recorded a substantial increase of 32.4% to $21.3 million.
When combined, we have a minor fall of 0.4% in the state’s total gaming win in August, which stand at $244.8 million.
In spite of the recent drop, the year-to-date casino win is still up when compared to the same period of 2016. $1.640 billion is a slightly better result than last year’s $1.639 billion, while the contribution the internet gaming made to the total gaming win was 27.3% bigger, resulting in a 2% increase for the current year.
Casinos on the Rise
Atlantic City Casinos had a good month, with a total year-on-year increase of around 5.5%. The numbers include only the current AC operators, all seven of them, which means the results of Trump Taj Mahal – closed back in October 2016 – were omitted from the whole sum.
Borgata is still the city’s highest grossing casino with a total gaming win of $74.4 million, 7.8% more than in the same period of 2016. The Tropicana is second placed with $37.5 million, a neat jump of 13.5% when compared to the last year, with the Resorts also going up by 6.5% to $3.5 million.
The only two casinos to record a decrease during August were Harrah’s and Caesars, with 3.9% and 0.6% respectively.
David Rebuck, director of the New Jersey governmental agency said the recent figures showed the positive online gaming numbers were encouraging the further stabilization of the Atlantic City casino market.
The Chief Executive Officer of the New Jersey Casino Control Commission, Matthew B. Levinson added August had seen the rise not only of the business in Atlantic City facilities, but also online, and expressed his satisfaction with the results achieved in the World’s Famous Playground.