It looks like there may be a light at the end of the tunnel for Atlantic City’s remaining casinos after all. In fact, the revenue in January was recorded as having an increase of 19%, in comparison to last year. More specifically, the eight casinos took in $197.5 million last month, an increase of 18.8 percent over the $166.2 million recorded in January 2014.
Last year saw the demise of four total casinos in Atlantic City: Atlantic Club, Revel, Trump Plaza, and Showboat. Many wondered what this would mean for the future of gambling within the city, with the majority under the assumption that it would be bleak. However, Chairman of the New Jersey Casino Control Commission, Matt Levinson, believes the latest percentages to be an indication that things are looking up for the remaining Atlantic City casinos, and that the worst is behind them.
Levinson says, “Seven out of them were up, and six reported double-digit increases. Even when you include the now-closed casinos in last year's results, the total gaming win is still up. While it is always risky to say we've turned a corner or that there is light at the end of the proverbial tunnel, let me say that January's results are very encouraging.”
Additionally, internet gambling brought in a total of $11.5 million in January, nearly a million dollar increase from December’s $10.7 million. Borgata lead the internet market with $3.7 million in online winnings last month, with Caesars Interactive, Tropicana and Golden Nugget all following at its heels, with revenue ranging from $2.4 million to $2.7 million.
The biggest jump in a month belongs to The Golden Nugget, moving from $10.8 million in January 2014 to $18.3 million, nearly a 70% gain. Despite the increases in revenue, there is still one casino that continues struggle. Trump Taj Mahal Casino Resort recently reported in January, a decrease by 21.2% from $12.1 million.
With the recent numbers, perhaps Atlantic City may have a bright future ahead.
pmutts
9 years ago
Jr. Member
Shurmar4life is correct in saying you cannot copy Las Vegas. Still--even with so much gambling throughout all the neighboring states--and the entire United States for that matter, Atlantic City will thrive. While the casinos there will never see the incredible numbers they had when Atlantic City was the "only game in town"...
Shurmar4life is correct in saying you cannot copy Las Vegas. Still--even with so much gambling throughout all the neighboring states--and the entire United States for that matter, Atlantic City will thrive. While the casinos there will never see the incredible numbers they had when Atlantic City was the "only game in town" on the East Coast, they will make money. Atlantic City's Boardwalk and beaches are unique and like all gaming hotels they must attract patrons with fine dining, entertainment, conventions, and other non-gaming but profitable offerings. I do think the market is US market is saturated. There are only so many disposable gaming dollars to go around.
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catapultaudio
9 years ago
Jr. Member
The United States is such a huge country, I'm really sure there should be room for more than one "Gambling Mecca", no matter how great the transport links become, or how prevalent the on-line casino market might be - people still want the experience of going out to the casino, and there are an awful lot of people in the...
The United States is such a huge country, I'm really sure there should be room for more than one "Gambling Mecca", no matter how great the transport links become, or how prevalent the on-line casino market might be - people still want the experience of going out to the casino, and there are an awful lot of people in the eastern US for whom AC is a whole lot easier, cheaper and more convenient to visit than Nevada.
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sharpe
9 years ago
Super Hero
The fact is that the Atlantic City casinos having a raise of 19% in comparison to last year so I'm not so sure that we should put them under the dirt just yet. As long as there are gamblers, will have a casinos and yes from home is more comfortable but there are many people who love to play in the real world casinos.
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jade
9 years ago
Super Hero
I say good for them, even if it maybe short lived. They did not say if they counted their online gambling profits in this 19% increase revenues. Now if that is the case, I could believe it. There are a few less casinos to compete against each other for the prize and I'm sure that is helpful. Hey, do you think they counted...
I say good for them, even if it maybe short lived. They did not say if they counted their online gambling profits in this 19% increase revenues. Now if that is the case, I could believe it. There are a few less casinos to compete against each other for the prize and I'm sure that is helpful. Hey, do you think they counted Revel's $10 million windfall LOL But seriously, I have nothing but good wishes for all the casinos at Atlantic City, because anytime a casino closes anywhere, we gamblers have potentially one less place to place a bet...................
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Shumar4life
9 years ago
Full Member
Somehow i believe that theirs comeback is impossible. First of all nobody can be copy of Las Vegas. Second thing is that today we have lot of online casinos and if you want to play you can do it from safety and comfort of your home. Atlantic City used to be good place but I believe that today they can't back the glory which...
Somehow i believe that theirs comeback is impossible. First of all nobody can be copy of Las Vegas. Second thing is that today we have lot of online casinos and if you want to play you can do it from safety and comfort of your home. Atlantic City used to be good place but I believe that today they can't back the glory which one they had in past
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