Casinos of Atlantic City see first monthly decline of the year

For the first few months of 2017, casinos of Atlantic City were able to see a nice increase in revenues each month when compared to the same time frame in 2016. The good run has seemingly come to an end as the New Jersey Division of Gaming Enforcement has released ps for the month of April which shows the gaming venues saw a decline of 3.6%, the first monthly decline of the year.

The brick and mortar gaming venues were down 3.6% when compared to April of last year with $191 million in earnings for the month. However, if the contribution of the Trump Taj Mahal, now shut down and soon to be a Hard Rock operating property, the revenues are able to shoot up 4.2%. It is also important to note that online casino and poker operators brought in $20.8 million for the month so if you include all totals, the state actually earned $211.7 million which is 5.8% more than April 2016.

Leading the pack in April earnings is the Borgta property, owned by MGM Resorts. The Borgata casino was able to earn $58.4 million which is 4.4% more than last year in brick and mortar revenues. Caesars came in second with $29.9 million in earnings, which is a 13% increase while the Tropicana came in third with $28.3 million in earnings, a 15% increase.

One of two net revenue decliners for the state includes Harrah’s Casino. Harrah’s earned $27 million for April which is a drop of 7.2%. Bally’s, 7BALL a property of Caesars, was down as well for April, earning $17.1 million, a 5.3% decrease for the month. The Resorts venue was able to stay on an even keel, earning flat revenues for the month with just under $14 million reported.

New Jersey Casino Control Commission Chairman Matt Levinson, commented on the recent revenue reports by stating that each of the operating casinos were able to win more with slot machines for April 2017 than the previous year with healthy increases for online gambling as well. The table game win did decline last month, and according to Levinson, was due to players being luckier this past month than the year before, as swings like this are expected.

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