Gambling Revenues Down in Atlantic City
The gambling figures are in for the month of October in Atlantic City and a decrease was seen overall as well as with the land based and online separate totals.
Atlantic City cannot seem to catch a break. With the closing of the Trump Taj Mahal in October, many have been wondering just how the city will be impacted with only seven gaming venues remaining. Now the city faces a takeover from the state that could last as long as five years as New Jersey legislators try to come up with a way to repair the struggling gambling city. The New Jersey Division of Gaming Enforcement recently released the figures for October, showing that both land based and online game play is in a decline for the month.
Total Revenues and Land Based Earnings
The total gaming revenue for the month of October in Atlantic City comes to $186.4 million which is a 2.7% decrease from the same time frame last year. Online gambling earned only $16.7 million which is a decline of 0.7% when compared to October of last year.
The Trump Taj Mahal shut down in October, on the 10th, which would have given less numbers to consider in the overall totals. However, if you look at the totals without the Taj, then the city actually saw a gain in revenue totals just over 4% when compared to last year. Seemingly, the loss of the Taj is not necessarily a bad thing, but we won’t know the impact for sure until November and December totals begin to roll in.
As far as individual casino earnings are concerned, the Borgata Casino was able to earn $60.5 million for the month which is an increase of 5% for year-on-year totals. Harrah’s saw only an 0.8% gain with earnings of $29.3 million. Tropicana saw a 14% increase with $24.8 million in earnings, Caesars earned $23.5 million for the month which was a 3.8% increase. Bally’s saw a decrease of 2.9% with $16.54 million in earnings while the Golden Nugget was up just over 10% with $16.53 million for October. Resorts was down by 3.5% with $14.3 million while the Taj took in just over $848,000 with their final days in operation.
Online Gambling Revenues
When it comes to online gambling revenues for Atlantic City, the Golden Nugget reigns supreme. The casino operator has reached the top spot as far as revenues are concerned for the second month in a row with October earnings. The New Jersey Division of Gaming Enforcement has reported that the casino earned just under $4.1 million for the month.
Casinos associated with the Borgata gaming venue were able to earn $3.67 million for the month but was unable to take over the top spot based on the Golden Nugget’s earnings. The sites operated by the Borgata took in $734,000 for poker gaming while online casino games brought in $2.93 million.
The Tropicana took the third spot as far as revenue earnings are concerned, taking in just above $3.1 million. Up next was Caesars Interactive Entertainment New Jersey who earned $3.05 million with $642,000 coming from online poker and $2.4 million from casino gaming.
Resorts Digital Gaming is connected to Amaya Gaming which of course operates PokerStars in the state. The earnings from this partnership came in at $2.74 million with just over $1 million coming from the online poker offerings. The New Jersey Championship of Online Poker was a success which helped the poker room to earn even more for the month.
Overall, online and land based gaming continues to do well but there were declines in the mix. It will be interesting to see how the totals stand up once the Taj has been removed fully from the equation.