Atlantic City Casinos Down 20% To $210m In October

admin, November 13, 2012 11:46 am

Atlantic City Casinos Down 20% To $210m In OctoberAtlantic City casinos have released their financial results for October revealing a 19.9% fall in revenue to $209.4 million for October. Breaking the figures down further, slot machine revenue decreased 21.8% to $149.1 million for the month, while table game revenue was off by 14.6% to $60.2 million.
At the root of Atlantic City’s latest troubling figures was the super-storm Hurricane Sandy which, despite not doing much physical damage to Atlantic City’s 12 casinos, did force them to close for up to six days between October 28 and November 2.
As a result, Atlantic City casinos saw their revenue results plunge, with the city’s newest $2.4 billion centerpiece casino Revel having its worst ever month with just $9.3 million in revenue, down from $13.4 million the previous month. Nevertheless, Revel was not alone as all the other casinos also reported losses lead by the Trump Taj Mahal Casino Resort down 38% to $18.6 million.
Next, Bally’s Atlantic City revenue dropped 33% to $19.8 million; Trump Plaza Hotel and Casino down 32.5% to $6.6 million; the Showboat Casino Hotel down 27.2% to $15.1 million. Resorts Casino Hotel reported a 25.3% decline to $9.5 million; the Tropicana Casino Resort was down by 21.4% to $16.1 million, and the Borgata Hotel Casino fell by 21% to $42 million.
Finally, Harrah’s Resort Atlantic City was off by $18.3% to $26.6 million; Caesars Atlantic City down 16.7% to $26.9 million, the Atlantic Club down 7.1% to $10 million, and the Golden Nugget Atlantic City down 4.3% to $8.6 million.
Encouragingly, though, the City’s famous Boardwalk area, where 9 casinos are located, remained unscathed and reopened quickly after the storm passed. Commenting on the latest results, Casino Control Commission chairman Matthew Levinson,  explained: “The numbers..clearly show that the storm had a noticeable impact on our casinos..[but] There was no damage to any of them or to the Boardwalk..As the region gets back to normal, so, too will the casinos. “
Overall, for the first 10 months of 2012 Atlantic City casinos have seen their revenue fall by 6.2% to $2.7 billion compared to the same period last year.

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