Atlantic City posted another steep decline in gaming revenue during June. According to the New Jersey Division of Gaming Enforcement, the city posted a gaming win of $240.2 million. It was down 12.6% over June 2012. Atlantic City casinos are down a combined 10.7% for the first half of 2013 versus the same period in 2012.
The total year-to-date gaming revenue is $1.38 billion. At this rate, Atlantic City will be down $350 million for the entire year against 2012. This does not include hotel, restaurant or bar revenue. These non-gaming activities typically account for about one-third of a casino’s revenue.
All twelve Atlantic City casinos posted a loss in revenue over June 2012. Borgata, the highest grossing Atlantic City casino, was down nearly $5 million against last year, but still posted a win of $48.6 million. The biggest percentage losers were Trump Plaza (23.6%), Revel (22.6%) and Caesars (19.3%).
Only one of the 11 casinos that were open the entire year of 2012 is positive against last year’s number. The Atlantic Club is up 19.2% over last year, which equals about $11 million. Trump Plaza is the biggest year-to-date loser (32.5%), followed by Bally’s (22.9%) and Showboat (19.6%).
New Jersey Hopes Online Gambling Can Lift Ailing Gaming Industry
Atlantic City casinos were required to file their online gambling partners by June 30th. Ten of the twelve casinos have publicly announced their partnerships. Only Atlantic Club and Revel have yet to come forward with their partners, though they have filed them with the New Jersey Division of Gaming Enforcement. Completed applications must be filed by July 29th. New Jersey hopes to have online gambling live on or about November 26, 2013.
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