Atlantic City Casinos Down 12.6% To $240m In JuneJuly 11, 2013 1:50 pm
Atlantic City’s Division of Gaming Enforcement has released its casino results for June, revealing a 12.6% decline in revenue to $240.2 million compared to the same month last year. Overall, slot winnings were down 11% to $179.1 million, while table games revenue declined by 16% to $61.1 million.
Atlantic City’s casinos had hoped for a June rebound, but in addition to a weak economy and increased competition from neighbouring states, an unfriendly calendar and soggy June also helped diminish AC’s casinos’ results further.
Commenting on June’s casino figures, chairman of Morowitz Gaming Advisors, Cory Morowitz, stated: “It’s certainly not encouraging. We’re still in this situation where Atlantic City is getting slammed by the competition. More important, what is happening in Atlantic City is also what we’re seeing uniformly across the U.S., except for the newer markets. It’s not just Atlantic City seeing these declines. It’s industrywide.”
Throughout June, all Atlantic City’s 12 casinos experienced declines in revenue compared to last year with the Trump Plaza Hotel and Casino recording the biggest drop, down 23.6% to $6.9 million; followed by Revel Casino-Hotel down 22.6% to $11.5 million; and Caesars Atlantic City down 19.3% to $25.7 million.
Bally’s Atlantic City revenue fell 18.4% to $21.8 million; the Showboat Casino Hotel was down 17.7% to $16.9 million; The Trump Taj Mahal Casino Resort down 15.1% to $21.7 million; Harrah’s Resort Atlantic City down 9.5% to $30.1 million; the Borgata Hotel Casino down 8.9% to $48.5 million; the Tropicana Casino down 5.5% to $21 million; The Golden Nugget Atlantic City down 5.2% to $10.6 million; the Atlantic Club Casino Hotel down 4.8% to $13 million; and finally the Resorts Casino Hotel was down 0.5% to $12 million.
For the first six months of 2013, Atlantic City’s gambling industry is currently down by almost 11% to $1.38 billion and is worringly on track to
fall below $3 billion in revenue for the first time in 22 years since since 1991. Last year, Atlantic City’s casinos generated just over $3 billion in revenue.