Atlantic City Casinos Down 4.8% To $298m In August

The state Division of Gaming Enforcement has released its casino results for August, revealing a 4.8% decline in revenue to $298.1 million compared to $313.2 million taken in the same month last year. In total, Atlantic City’s casinos generated $219.5 million from slot machines, down 2.6% from a year ago, while table games raked in $78.6 million, 10.5% lower than August 2012.
Breaking the figures down further, nine of Atlantic City’s 12 casinos recorded revenue declines for the month, the biggest of which was Harrah’s Resort Atlantic City, down 18% to $32.8 million. Following close behind was the Tropicana Casino and Resort down 17.8% to $21.4 million, and Trump Plaza, down 17.2% to $8.8 million.
Also posting declines was the Trump Taj Mahal Casino Resort, down 15.5% to $26.5 million; The Showboat Casino Hotel down 9.5% to $19.9 million; Bally’s Atlantic City down 9.3% to $26 million; the Golden Nugget Atlantic City down 4.3% to $12.5 million; The Atlantic Club down 1.7% to $14.5 million, and Caesars Atlantic City down 1% to $37.7 million.
On the other side of the coin, the Borgata Hotel Casino & Spa saw its revenue rise by 13.3% to $62.6 million; Resorts Casino Hotel was up by 11.6%; and the Revel Casino Hotel was up 2.2% to $20.4 million.
Commenting on its improving monthly figures Revel’s interim CEO Jeffrey Hartmann, explained: “You’ve got to walk before you run, and we’re at a slow jog right now.”
Since 2006, when Atlantic City casino revenue peaked at $5.2 billion, its casino industry has suffered seven years of decline and so far this year Atlantic City has generated $2 billion in revenue, down a huge 9% compared to the same month last year.
The one piece of good news on the horizon, though, is that internet gambling is set to hit Atlantic City in the near future, after which gambling revenues could start trending upward in the state.