Atlantic City Gambling Revenue Slightly Drops in August
The New Jersey Division of Gaming Enforcement published its monthly report last week which shows a minor year-on-year decrease in overall gambling revenue, but also reveals Atlantic City casinos had a solid August.
All seven operating casinos in the World’s Famous Playground recorded an increase in revenue when compared to the same period of 2016.
No Reason For Concern
The report shows the casino recorded a 2.7% drop to $223.6 million, while internet gambling enjoyed a substantial rise of 32.4% for a monthly revenue of $21.3 million.
The combined result is 0.4% lower than in the August of 2016, or when translated to hard currency, its $1.1 million less in revenue, $244.8 million in total.
From January 1 to August 31, the casino win recorded a slight increase (from $1.639 to $1.640 billion), while the internet gaming made a 27.3% jump for an overall 2017 growth of 2%.
Good Month For AC Casinos
Seven casinos currently operating in the Atlantic City made a jump of 5.5% during August. Trump Taj Mahal, which closed its doors back in October 2016 is not included in the comparison.
Borgata is still the city’s highest grossing casino, with revenue of around $74.4 million – a year-on-year rise of 7.8%. Tropicana enjoyed a 13.5% increase to $37.5 million, while the Resorts took home $3.5 million or 6.5% more than last year. The only two AC casinos to record a drop when compared to the corresponding period from 2016 were Harrah’s and Caesars with 3.9% and 0.6% respectively.
David Rebuck, Division’s director, said the latest figures showed the continued stabilization of the Atlantic City casino market was encouraged by the positive online gaming numbers.
Matthew B. Levinson, chairman and CEO of the New Jersey Casino Control Commission added great summer weather and improving economy had drawn more business not only to brick and mortar casinos in Atlantic City but also to their internet operations.