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Atlantic City casino revenues up by 4.6 percent


Atlantic City casino revenues up by 4.6 percent

Atlantic City's casinos have registered an increase in revenues by 4.6 percent for the month of November. The gains in revenue have come as a silver lining for the struggling gambling industry.

 The seven casinos collected $206.4 million in last month, compared with $197.2 million in November 2016. Internet gambling revenue appreciated by 20 percent in November 2017 compared to the previous year, racking $20.6 million.

 This is the first time that the state Division of Gaming Enforcement does not count up the former Trump Taj Mahal casino which was closed late last year. The casino is expected to reopen in the summer of 2018, as a Hard Rock casino resort.

The only two casinos that report monthly revenue decrease are Bally's and Harrah's. The former was down by 4.7 percent to collect $15.5 million in revenue while Harrah's revenue went down by 7.6 percent as it collected $28.4 million.

 The biggest gainer of the city’s casino was Resorts, which registered gains of 18.6 percent to collect $14.9 million in revenues.

 The Golden Nugget, Caesars, Borgata were all up, by 15.2 percent collecting $23.6 million; by 7.7 percent collecting $22.9 million; and by 5.7 percent collecting $64.2 million, respectively. The Tropicana was up by 4.9 percent as it collected $29.6 million in revenues.

 In 2017, the Atlantic City's casinos have racked $2.45 billion so far in revenues, which is an increase of 2.4 percent over the same period last year.

 The increase in revenues is a confirmation that Atlantic City's casinos have got back on track with below par three-year period wherein five casinos have closed while 11,000 natives have lost their jobs.

 The Golden Nugget is again in the lead in the internet gambling market, collecting over $6.2 million online in the month of November and an increase of nearly 63 percent. Borgata’s online collections in November were $4.2 million. Resorts Digital, Caesars Interactive-NJ, and Tropicana collected within the range of $3.2 to $3.5 million.