Atlantic City Casino Revenue Static At $275 Million In June
July 11, 2012 2:51 pmAtlantic City’s 12 casinos have posted fairly static results in June, with revenue declining by just 0.6% to $274.7 million. Overall, AC’s slot machine revenue was up 0.6% to $201.6 million, while table game revenue fell by 3.7% to $73.1 million.
June’s results were helped by a friendly calendar which featured an extra Friday and Saturday compared to the same month last year. Nevertheless, New Jersey still had to contend with a ‘derecho’ storm which occurred on June 29th to 30th, causing a great deal of damage and leaving 206,000 Atlantic City Electric customers without power.
Atlantic City last posted a monthly gain back in December, with gambling revenue having fallen by 7% already so far this year. Encouragingly, however, June’s 0.6% decline was the lowest seen in 2012, and commenting on the figures, Tropicana Casino CEO Tony Rodio, said:
“We have a better calendar, but it’s a big improvement than the double-digit declines over the last two months. I’m encouraged as we go into summer..It’s a step in the right direction, but I don’t think we’re out of the woods yet.”
Leading the casinos posting positive revenue results was the Tropicana Casino up 38% to $22.3 million, followed by the Atlantic Club up 13.5% to $13.6 million, Caesars Atlantic City up 7.5% to $31.8 million, and The Golden Nugget Atlantic City up 4.% to $11.2 million.
On the other hand, the Trump Plaza posted the biggest decline, down a massive 30.7% to $9 million, while the Trump Taj Mahal, too, saw its revenue fall by 23.4% to $25.5 million. Also posting declines was the Bally’s Atlantic City down 17.6% to $26.7 million, Harrah’s Resort down 13% to $33.2 million, Resorts Casino down 7% to $12 million, and the Borgata down 6.4% to $53.3 million.
Finally, In June Atlantic City’s new $2.4 billion casino and tourist complex Revel took in $14.9 million in gambling revenue, up from $13.4 million in April and $13.9 million in May. Moreover, Revel generated $8.5 million in non-gambling revenue for June, with visitor numbers up 33% on the prior month. Commenting on the figures, Revel CEO Kevin DeSanctis said:
“There’s no question that we would prefer to have more gaming revenue. But one of the more interesting things from our perspective is that we have been able to generate significant, high-margin non-gaming results. We’re really trying to change the dynamic in Atlantic City with our business model. We’re trying to attract a broader visitor.”