Atlantic City’s casinos started the new year the way they’ve spent the majority of the past six years: taking in much less and less income from gamblers.
Income at the city’s 12 casinos fell by 13.2 % in January, compared having a year ago. And Revel, the city’s newest casino that had been viewed as a potential catalyst for an Atlantic City comeback, had its second-worst month ever.
It was an inauspicious begin to what could be a seventh straight year of falling casino revenues within a marketplace that used to be the nation’s second-largest but has considering the fact that lost that title to Pennsylvania.
Revel, which opened final April, took in just less than $8 million, which was the second-lowest total in its history. Only November’s $6.2 million total, for the duration of a month affected by Superstorm Sandy closures, was worse.
“We have just begun reintroducing Revel to the gaming buyer,” Revel CEO Kevin DeSanctis stated. “We continue to enhance our all round amenities, which includes a brand new noodle bar, slot players’ lounge, new restaurants and day club.”
He stated the casino will quickly announce new programs for The Social, an open gathering location just off the casino floor that is utilised for entertainment, meetings along with other functions.
In January, Atlantic City’s casinos won $205.six million from gamblers. Table games income fell by $5.1 million, to $67.1 million. Slot machine income fell by $26.two million, to $138.5 million.
The slots numbers have been affected by an $8.1 million reduce in promotional gambling credits that have been wagered, that are a component of slot machine income totals.
Atlantic City’s casino income has fallen from a higher of $5.2 billion in 2006 to just over $3 billion final year.
The Atlantic Club, which can be being purchased by the parent organization from the PokerStars website in anticipation of New Jersey legalizing World-wide-web gambling, was the only casino to show a revenue enhance. It was up practically 15 % to $9 million.
Trump Plaza Hotel and Casino, which has been trying to find a purchaser for a number of years, posted an alarming 40.8 % plunge, to just $4.8 million for the month. Bally’s Atlantic City was down greater than 29 percent to $17.six million; Harrah’s Resort Atlantic City was down 22.6 % to $26.6 million; and Caesars Atlantic City was down 22.2 % to $23.two million.
The Trump Taj Mahal Casino resort was down greater than 21 % to $19.2 million; the Showboat Casino Hotel was down 19.two % to $13.six million; and Resorts Casino Hotel was down almost 19 percent to $8.1 million.
The Borgata Hotel Casino & Spa was down nearly 9 % but still led the city with $47.1 million in income. The Tropicana Casino and Resort was down 2.6 % to $18.two million, and The Golden Nugget Atlantic City was virtually unchanged at just under $9.six million.
Atlantic City’s revenue have been falling from a higher of $5.2 billion in 2006, just before the first casino in neighboring Pennsylvania opened, to just more than $3 billion last year. Casinos have because sprouted up in New Jersey’s neighboring states, like New York, Pennsylvania, Delaware and Maryland.