September results for Atlantic City
The former casino centre of America faced another casino closure and a monthly revenue drop.
US.- Atlantic City is going through a delicate stage after the closure of five casinos since 2014, including the Trump Taj Mahal which shut down this week. Despite that, the gaming hub is trying to keep the positive results obtained during the first half of 2016. However, September noted a decline of 1.5 percent in its casinos revenue, in comparison with the results of 2015.
The eight casinos that operated until last September took a total of US$226.6 million. During the first six months of 2016, Atlantic City casinos boosted profits by more than 20 percent. The online gambling sector keeps leading the results with 35 percent of revenue increment in September to US$16.2 million compared with US$12 million in September 2015.
Brick-and-mortar casinos took in US$210.4 million for the month, down 3.5 percent from a year ago. Slot machines accounted for US$147 million, whilst table games brought in US$63.4 million. Four of the AC casinos obtained positive results, led by Resorts, which was up 10.6 percent to US$16.8 million. The Golden Nugget was up 9.5 percent to US$21.5 million; the Tropicana generated 8.1 percent of increment to US$29.2 million, and the Borgata 2 percent to US$67.6 million.
On the opposite line, The Taj was down 51.2 percent to US$8.1 million in September. Harrah’s declined 8.3 percent to US$28.9 million; Caesars dropped 3.9 percent to US$29.8 million, and Bally’s was down 3.6 percent to US$18.1 million. According to Matt Levinson, chairman of the New Jersey Casino Control Commission, September was “a month marked by a threatened hurricane, a state of emergency, and two cancelled beach concerts over the long Labor Day weekend and the winding down of operations at the Trump Taj Mahal. Despite all of those obstacles, half of the casinos reported increases for the month.”