Atlantic City Casinos Down 4% To $253m In MayJune 11, 2013 2:19 pm
The New Jersey Division of Gaming Enforcement has released its casino figures for May, revealing a 3.8% decline in revenue to $253.1 million, compared to the same month last year. From that total, slot machine takings were down by 3.7% to $180 million, while table games revenue was down by nearly 4% to $73 million.
Although Atlantic City’s casino industry has continued to record falling year-on-year revenue results, the latest figures have actually been received positively as they were far below the declines reported in January (-13.7%), February (-12.5%), March (-10.5%) and April (-12.1%).
Commenting on Atlantic City’s May’s casino results, Tropicana Casino president Tony Rodio, said: “I think it’s a general stabilization of the market. If we can keep the low-percentage declines and get close to even as we enter the crucial summer months, that would be a positive indicator.”
During May, four out of Atlantic City’s 12 casinos actually posted increases in revenue, headed by The Atlantic Club Casino Hotel up 24.5% to $13.3 million. Also in positive territory was Resorts Casino Hotel up 20% to $12.6 million; Caesars Atlantic City up 6.9% to $32.5 million; and the Borgata Hotel Casino & Spa up 4.8% to $52.4 million.
On the other side of the coin, Trump Plaza Hotel and Casino lead the list of decliners, down 27.1% to $6.9 million, followed by Revel down 19.6% to $11.2 million, although it still represented Revel’s best month since its September 2012 tally of $16.8 million. Also reporting falls in revenue was The Golden Nugget Atlantic City down 11.6% to $9.5 million; Bally’s Atlantic City down 11% to $23.1 million; the Showboat Casino Hotel down 10.9% to $16.8 million; The Trump Taj Mahal Casino Resort down 10.7% to $22.3 million; the Tropicana down 9.2% to $20.8 million; and Harrah’s Resort Atlantic City down 8.5% to $31.1 million.
For the first five months of 2013, Atlantic City casinos have now generated $1.138 billion, which is down 10.4% compared to the same period in 2012.