It was reportedly a rough February for the seven casinos in Atlantic City as aggregated land-based gross gambling revenues for the 28-day month fell by some 9% year-on-year to $170.1 million.
According to a Thursday report from The Press of Atlantic City newspaper, February represented the second consecutive month of declining land-based gambling revenues in the New Jersey city with winter storms cited as the main reason for January’s total dropping by almost 10% year-on-year to $184.3 million.
“Let’s face it, February was a weak month,” Jim Plousis, Chairman for the New Jersey Casino Control Commission, reportedly told the newspaper. “I am hopeful that casinos can turn this around and start expanding the market as we move into the busier spring and summer seasons.”
February was perhaps hardest for Caesars Atlantic City, which is one of a trio of Atlantic City venues run by Las Vegas-headquartered Caesars Entertainment Corporation, as it reportedly saw land-based gambling revenues nosedive by 23% year-on-year to $17.6 million. Its counterpart, Harrah’s Resort Atlantic City, purportedly posted analogous takings for the month of $28.2 million, which represented a decrease of 4%, while their sister, Bally’s Atlantic City, recorded a 13% plunge to $14.2 million.
The nearby Resorts Casino Hotel fared much the same as the venue operated by the Mohegan Tribal Gaming Authority reportedly saw its land-based gross gambling revenues for February sink by 21% year-on-year to $12 million while the $25.9 million brought in by Tropicana Entertainment Incorporated’s 2,100-room Tropicana Casino and Resort Atlantic City represented a fall of 8%.
The Press of Atlantic City reported that February land-based gambling revenues at the Borgata Hotel Casino and Spa from MGM Resorts International declined by 6% year-on-year to $55 million although the Golden Nugget Atlantic City, which is owned by Landry’s Incorporated, saw its tally rise by 5% to reach $17.2 million.
“With difficult weather conditions persisting into March, it is hard to gauge the market but we are hopeful that the industry will ultimately experience revenue growth in 2018,” Christopher Glaum, Financial Investigations Bureau Chief for the New Jersey Division of Gaming Enforcement, reportedly told the newspaper.
It was reportedly another story in terms of iGaming as Atlantic City’s five operations posted an 18% increase year-on-year in aggregated gross gambling revenues for February to approximately $22 million led by the service from Golden Nugget Atlantic City, which saw its total swell by 52% to hit $7.9 million.
Similarly, the iGaming offering from Resorts Casino Hotel reportedly posted a boost of 24% year-on-year in February gambling revenues to $3.8 million while the rival operation from Tropicana Casino and Resort Atlantic City recorded a more modest 3% improvement to $3.3 million.
Finally, February online gambling revenues at the Borgata Hotel Casino and Spa reportedly advanced by 1% year-on-year to reach $3.8 million while the only loser was the local iGaming service from Caesars Entertainment Corporation as it posted a monthly decline of 9% to $3.2 million.
Atlantic City casinos experienced a disappointing February was last modified: March 18th, 2018 by Adam Morgan