Atlantic City casinos start the year with increased revenue

  • 17th February 2017 | Atlantic City, NJ
  • The resort’s seven remaining brick-and-mortar casinos started the year with the right foot, seeing a 15pc increase in revenue in January over a year ago. Gaming revenue at those properties totaled $204.7m, according to the Division of Gaming Enforcement.

    Atlantic CityBorgata Hotel Casino & Spa, Caesars Atlantic City and Tropicana Atlantic City all posted double-digit revenue increases. Borgata revenue totaled more than $60m last month, and the casino had its best January ever, Levinson said.

    Internet gaming revenue increased 29pc in January, totaling $18.8m compared with $14.6m a year ago, according to state numbers.

    “It is well to remember that brick and mortar versus internet gaming win numbers do not always move in the same direction in any given month. This January, however, both significantly increased,” said Tony Marino, an independent transportation analyst and former Atlantic City Expressway executive.

    Despite the increase in gaming revenue, the industry is expected to stay stable, said Colin Mansfield, a casino analyst with Fitch Ratings.

    “Looking back over a 12-month period, it’s still a $2.4bnindustry,” Mansfield said. “The biggest reason behind the increase was the Winter Storm Jonas.”

    innovategaming.com | pressofatlanticcity.com