Atlantic City Casinos Down 3.6% To $297m In July

Atlantic City Casinos Down 3.6% To $297m In JulyAtlantic City recently released its casino results for July revealing a 3.6% fall in revenue to $297.2 million, compared to $308.2 million for the same month in 2012. The east coast resort’s gambling industry has been in steady decline since 2006, and following last month’s disappointing figures, Atlantic City casinos for the first seven months of 2013 are currently down by 9.6% at $1.68 billion.
During July, slot machines accounted for $215.5 million of the total revenue tally, while an additional $81.7 million was generated from table games. Out of Atlantic City’s 12 casinos, nine of the gambling venues reported declines in revenue last month, headed by the Tropicana Casino and Resort, down 26% to $20.6 million.
Also reporting slipping results was the Trump Plaza Hotel Casino down 25% to $8.1 million; the Showboat Casino Hotel down 19% to $18.6 million; Bally’s Atlantic City down 14% to $24.2 million. Harrah’s Resort Atlantic City down 10.7% to $34.8 million; the Trump Taj Mahal Casino Resort down 10.6%  to $26.5 million; Caesars Atlantic City down 4.6% to $35.2 million; The Atlantic Club Casino Hotel down 3% to $14.2 million, and the Golden Nugget Atlantic City down 1.6%  to $13 million.
On the plus side, three casinos saw their revenues grow during July, including the Borgata up 18.9% to $64.3 million, and Resorts up 6.2%. Leading the way, however, was Revel, which reported an impressive 33.4% increase in revenue to $23.4 million. Commenting on the $2.4 billion casino resort’s encouraging figures, Revel interim CEO Jeffery Hartmann, said:
“July results at Revel clearly show the impact of our ‘Gamblers Wanted’ campaign..We picked up significant market share. We almost doubled market share in one month. We think it’s sustainable and able to be maintained into August.”
Despite its overall declining revenues, Atlantic City is hoping to give its beleaguered gambling industry a boost come November 26th, 2013, when its launches legal online gambling for its residents and visitors. New Jersey internet gambling is then expected to generate somewhere between $500 million and $1 billion in additional revenue during its first year of operation, alone.

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