2015
04/24

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Revenue

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Good news for Atlantic City as casino revenue jumps in March

ATLANTIC CITY — Though revenuesfrom table games and slot machines declined within the brick-and-mortar locations of many of Atlantic Citys surviving casinos in March, internet gambling helped boost the resorts fortunesoverall.

Total gaming revenue increased by 2.3 percent in March over the same month last year, jumping from roughly $199 million to nearly $204 million, according to data released on Tuesday afternoon by the state Division of Gaming Enforcement. When casinos that shuttered last year are included, however, the data shows revenue fell by 12.6 percent.

The Atlantic Club closed its doors in Januaryof last year, followed by the Showboat in Augustand Revel and Trump Plaza in September.

Matthew Levinson, chairman of the New Jersey Casino Control Commission, said a significant portion of the increase for the operating casinos came from internet gaming revenues last month.

The data released on Tuesday shows Golden Nugget posted the largest gain in March, with total revenues increasing by more than 40 percent to roughly $19 million.

Though part of that increase came from table games and slot machines, the casinos internet gaming revenues increasedin March to nearly $3 million. Thats ajump of 337 percent from the same month last year, when the casino pulled in nearly $680,000 from internet gaming.

Tropicana posted a gain of roughly 60 percent in March in internet gaming revenue, which helped keep the casinos revenue growth in positive territory despite a decline in table games and slot machines.

Online gambling didnt fare as well for Borgata, whichsaw revenues decrease in that area. Butthe casinos overall revenue still increased by 7.7 percent.

Harrahs also had a growth in revenue in March of 11.1 percent.

The citys boardwalk casinos werent as lucky. Ballys, Caesars, Resorts and Trump Taj Mahal all had an overall decline in revenue in March.Caesarss online gambling arm also saw its revenue decline in March.

Levinson noted that gaming revenue has increased at the remaining casinos for seven of the last eight months and last week those casinos reported a 12 percent increase in gross operating profits for all of last year. He said with new attractions coming to city, I anticipate this trend will continue into the summer months.

Erin ONeill may be reached at eoneill@njadvancemedia.com. Follow her on Twitter @LedgerErin. Find NJ.com on Facebook.

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