Atlantic City Casino Revenue October 2018
Figures released by New Jersey’s Department of Gaming Enforcement (DGE) announcing its ‘Quarterly and Year-End Results’ for Atlantic City, showed gross operating profits have soared in New Jersey’s Atlantic City during 2017, increasing 22.5% for current operators. The city’s casinos also saw a rise in revenue and hotel occupancy, as they reap the benefits of a less saturated market.
Despite the large increase in operating profits for current operators, the closing of five casinos since 2014, and in particular the closing of the Trump Taj Mahal in October 2016, has led to a far less saturated casino market; the total revenue for the gaming industry in Atlantic City has actually only grown by 0.9%, compared to the 22.5% increase experienced for current operators, to $3.4bn during 2017.
Casinos such as Caesars, the Golden Nugget and Tropicana all performed well as a result of the less competitive market. Whilst the Borgata led the way in achieving a total revenue of $1.1bn, a growth of 3.5%, Caesars and the Golden Nugget both increased their revenues by 7.1%, to $442m and $316m.
Tropicana saw the largest growth to its revenue at 12.3%, up from $435m in 2016 to $489m in 2017. This helped Tropicana to report an impressive 71% annual increase in its gross operating profits profits, up from $53m to $91m by the end of 2017.
Atlantic City casinos see gaming revenue continue to increase 16 October 2019 (PRESS RELEASE) - The Casino Association of New Jersey today announced that Atlantic City continued to see growth in the month of September, according to the most recent Division of Gaming Enforcement gaming revenue results report.
Atlantic City Casino Revenue October 2018 Date
- Sadonna Price November 16, 2018 October was a good month for the nine operating casinos in Atlantic City, New Jersey. According to the revenue figures released by the Division of Gaming Enforcement, the total gaming revenue for the month generated by the casinos came in at $234.3m (€205.3m), almost $30m (€26.2m) more than October 2017 totals.
- The Atlantic City casino parking fee data is provided by the N.J. Casino Control Commission. Lodging fee's 12-month trailing total for 2018 was $686, remaining flat from last year's figure.
- Atlantic City Casino Revenue October 2018, alea casino glasgow quay, slot granitz, long term parking river rock casino.
The results included a similarly buoyant hotel occupancy rate, which reached an impressive 86.9%. This represented an annual growth of 5.4%. Caesars led the charge in this department recording an average occupancy rate of 91% for the year.
Discussing the successful annual results, Christopher Glaum, deputy chief of financial investigations for DGE, said: “In a positive sign for the Atlantic City casino industry, three casino hotels reported record net revenue and gross operating profit under current ownership and both Internet casino licensees had their best year as well. Industry-wide, strong growth in net revenue led to gross operating profit growth in excess of 20 per cent for the year. These operating results bode well for the industry expansion expected to occur in mid-2018.”
Atlantic City Casinos will be well aware that these results are directly attributed to the closure of 5 casinos in the area since 2014. Therefore, the planned opening on Memorial Day 2018 of a Hard Rock Hotel and Casino, on the site of the old Trump Taj Mahal, could have an adverse effect on the individual casinos performances in future financial reports.
Atlantic City Casino Revenue October 2018 Printable
November 13, 2012 11:46 amAtlantic City casinos have released their financial results for October revealing a 19.9% fall in revenue to $209.4 million for October. Breaking the figures down further, slot machine revenue decreased 21.8% to $149.1 million for the month, while table game revenue was off by 14.6% to $60.2 million.
At the root of Atlantic City’s latest troubling figures was the super-storm Hurricane Sandy which, despite not doing much physical damage to Atlantic City’s 12 casinos, did force them to close for up to six days between October 28 and November 2.
As a result, Atlantic City casinos saw their revenue results plunge, with the city’s newest $2.4 billion centerpiece casino Revel having its worst ever month with just $9.3 million in revenue, down from $13.4 million the previous month. Nevertheless, Revel was not alone as all the other casinos also reported losses lead by the Trump Taj Mahal Casino Resort down 38% to $18.6 million.
Next, Bally’s Atlantic City revenue dropped 33% to $19.8 million; Trump Plaza Hotel and Casino down 32.5% to $6.6 million; the Showboat Casino Hotel down 27.2% to $15.1 million. Resorts Casino Hotel reported a 25.3% decline to $9.5 million; the Tropicana Casino Resort was down by 21.4% to $16.1 million, and the Borgata Hotel Casino fell by 21% to $42 million.
Finally, Harrah’s Resort Atlantic City was off by $18.3% to $26.6 million; Caesars Atlantic City down 16.7% to $26.9 million, the Atlantic Club down 7.1% to $10 million, and the Golden Nugget Atlantic City down 4.3% to $8.6 million.
Encouragingly, though, the City’s famous Boardwalk area, where 9 casinos are located, remained unscathed and reopened quickly after the storm passed. Commenting on the latest results, Casino Control Commission chairman Matthew Levinson, explained: “The numbers..clearly show that the storm had a noticeable impact on our casinos..[but] There was no damage to any of them or to the Boardwalk..As the region gets back to normal, so, too will the casinos. “
Overall, for the first 10 months of 2012 Atlantic City casinos have seen their revenue fall by 6.2% to $2.7 billion compared to the same period last year.