AC Casinos Rebound 3.6% In October One Year After Hurricane Sandy

admin, November 13, 2013 11:01 am

AC Casinos Rebound 3.6% In October One Year After Hurricane SandyThe New Jersey Casino Control Commission has released its gambling figures for October revealing a 3.6% increase in revenue to $216.9 million, compared to the same month last year when Hurricane Sandy forced many Atlantic City’s casinos to shut their doors for several days.
During October, slot machine revenues rose by 9.7% to $163.6 million, while table games revenue actually declined by 11.5% to $53.3 million. Commenting on the latest figures, NJ Casino Control Commission chairman Matthew Levinson, explained:
“Any increase is certainly encouraging, and I hope that we will continue to see improvement in monthly revenues throughout the rest of the year. October’s results would have been even better, but the industry reported an unusually low hold at the gaming tables. If the hold percentage had remained stable, casinos would have brought in several million dollars in additional revenue.”
Breaking the figures down further, the Tropicana Casino and Resort reported a 14.6% fall in revenue to $13.8 million, with other casinos also recording declines including the Trump Plaza Hotel and Casino down 24.3% to $4.9 million; Bally’s Atlantic City down 12.9% to $17.2 million; and Caesars down 1% to $26.8 million.
On the other side of the coin, Revel Casino Hotel saw its revenue improve by 21% to $11.2 million; The Borgata Hotel Casino and Spa was up by 13.2% to $47.6 million; Resorts Casino Hotel was up 12% to $10.6 million; the Golden Nugget Atlantic City was up 10.1% to $9.5 million; the Atlantic Club Casino Hotel was up 9.5% to $10.8 million; The Trump Taj Mahal Casino Resort was up 8.9% to $20.2 million; the Showboat Casino Hotel was up 6.5% to $16.1 million; and Harrah’s Atlantic City Resort and Casino was up 3.9% to $27.6 million.
For the first 10 months of 2013, Atlantic City’s 12 casinos have now won $2.4 billion, a decline of 8.3% compared to the same period in 2012, and it now seems inevitable that Atlantic City’s yearly casino revenues will drop below the $3 billion level for the first time since 1991.

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