>
+ Reply to Thread
Results 1 to 4 of 4

Thread: Atlantic City casinos post second straight year of revenue growth

Bookmark and Share
  1. #1
    Administrator dani3839's Avatar
    Join Date
    Jan 2008
    Location
    "On the coast of somewhere Beautiful"
    Posts
    57,736

    Atlantic City casinos post second straight year of revenue growth

    CalvinAyre - Source


    Atlantic City casinos defied pessimists by reporting their second straight year of annual revenue growth in 2017.

    On Friday, the New Jersey Division of Gaming Enforcement reported its casino licensees generated brick-and-mortar gaming revenue of $186.2m in December, a 1.8% decline from the same month last year. The decline was entirely due to gaming tables playing unlucky, as table revenue was off nearly 8% to $53.8m.

    However, Decemberís haul was enough to bring 2017ís total brick-and-mortar gaming win to $2.41b, a very modest but undeniably positive 0.3% gain on 2016ís full-year total. And when you combine the $245.6m earned by the casinoís online gambling partners, the year-on-year total was up 2.2% to $2.66b.

    Even better, if you discount the $125.5m generated in 2016 by the Trump Taj Mahal before it shut its doors that October, the same-store year-on-year gain spikes to 7.3%. And AC casinos have gotten better at squeezing out higher profits since the market underwent its contraction from 12 casinos in 2014 to just seven today.

    Five of these seven casinos were in positive territory in December, led (as ever) by the Borgata, which inched up 1.2% to $57.8m. The marketís biggest loser was Caesars, where revenue fell one-fifth year-on-year, thanks to table game revenue falling 42% despite table turnover falling only 2%.

    For the year as a whole, the Borgata claimed just under one-third of the total brick-and-mortar haul with $755.1m, more than its two closest competitors combined. Remarkably, all seven casinos posted annual revenue gains, although Ballyís just barely qualified with revenue up 0.1% to $211m.

    This year will test ACís feel-good revival story, as the summer will see two closed AC casinos reopen. The Taj Mahal will be reborn as Hard Rock Atlantic City, while we learned just this week that Revel will emerge from its nearly four-year hibernation as the Ocean Resort Casino.
    Last edited by dani3839; 01-13-2018 at 09:30 PM.
    Follow us on FacebookFollow us on TwitterFollow us on TumblrFollow us on PinterestFollow us on WordpressFollow us on BloggerFollow us on LinkedIn

  2. #2
    Moderator sorcer3ss's Avatar
    Join Date
    Feb 2008
    Location
    Melbourne, Australia
    Posts
    43,892
    My Mood
    Happy

    Re: Atlantic City casinos post second straight year of revenue growth

    Thanks dani

  3. #3
    Owner CareyG's Avatar
    Join Date
    Jan 2008
    Location
    Crazy Town
    Posts
    51,682
    My Mood
    Asleep

    Re: Atlantic City casinos post second straight year of revenue growth

    Thats awesome!!

  4. #4
    Owner vixen777's Avatar
    Join Date
    Jan 2008
    Location
    In a constant state of madness :)
    Posts
    39,438
    My Mood
    Cheerful

    Re: Atlantic City casinos post second straight year of revenue growth

    Good to see the city have a come back

+ Reply to Thread

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Members who have read this thread : 4

You do not have permission to view the list of names.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts