Atlantic City casinos report revenue growth

Atlantic City casinos report revenue growth

Casinos in the city reported a 16.9% increase in revenue.

The casinos in Atlantic City reported their 11th straight month of revenue growth.

US.- The casino industry continues to grow in Atlantic City: this time operators reported a 16.9% increase in gaming revenue. This growth marks the 11th consecutive month of increases in Atlantic City.

The nine casinos in New Jersey’s gambling hub reported US$250.7 million in total gaming revenue in April. The information was released on Tuesday by the New Jersey Division of Gaming Enforcement (DGE).

Analysts estimate that the Hard Rock Hotel & Casino and Ocean Resort openings in June 2018 helped this growth. This is because casino revenue in Atlantic City has reported double-digit growth since those openings.

As the DGE detailed, the industry has generated US$977.3 million in gaming revenue through the first four months of the year. The figure represents a 20.8% year-on-year increase when seven casino properties were operational.

Revenue from table games and slot machines in Atlantic City casinos reported an 8.4% growth to US$207.6 million in April. Despite these results, Borgata Hotel Casino & Spa was the only facility to report an increase.

”Gaming and leisure customers have many options, both online and on-site, and Atlantic City is positioned for a great summer season with its addition of new sportsbook lounges and other exciting amenities,” said James T. Plousis, chairman of the Casino Control Commission.

Online casino reported a 60% increase in April

As well as casinos in Atlantic City, the online industry in New Jersey posted revenue growth of almost 60% in April to US$36.6 million. Sports betting was one of the factors of this growth.

Golden Nugget Atlantic City remains the top online gaming revenue scorer in the state, as it reported US$13.8 million in April. The modality has generated more than US$140 million in revenue through the first four months of 2019. This figure represents a 52.4% increase over the same period last year.

Furthermore, online and mobile sports betting totalled 81% of all sports bets placed in the state. Players placed US$313.7 million in sports bets in April. Sports betting also generated more than US$6.5 million in revenue growth for Atlantic City casinos and their online partners in New Jersey April.

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