May brought bad news from the Boardwalk, where online gambling revenue fell to $10.5 million. (It had been $11.4 million the month before, in itself a decline.) Traditional casinos were off 3% on a same-store basis — i.e., subtracting the defunct Atlantic Club from the comparisons. Slot revenue for the city was up despite lower handle. Poor hold translated into a 24% decline in table revenue, however.
Borgata beat the odds, with higher slot handle and table drop. Overall, it was up 5%. Other gainers were the Golden Nugget, up an astonishing 70% for $16 million. Revel was up, too, but not nearly as much as it needed to be: 4%, for $12 million. Much more robust were the numbers at Tropicana Atlantic City, up 21% for $25 million. All the Caesars Entertainment properties posted modest declines (is 11% at Bally’s “modest”?) but Caesars Atlantic City pulled the quartet down with an $18 million month, down 44%.
Resorts International ($12 million) had a 5% decline and, as ever, nobody grossed as little as Trump Plaza, scraping together $5.2 million for a 24% drop. Healthier sibling Trump Taj Mahal only slipped 3%, for a gross of $22 million. To the extent that online play is a factor, Borgata has 38% to Caesars’ 27%, Tropicana’s 18% and Trump Entertainment Resorts‘ aggregate 11.5%. When the American casino industry experimented with overseas’ Internet-casino sites, it got its fiscal fingers burned. Could history repeat itself?
It’s a shame and they still want to build more casinos (Mass, New York State). AC should close half of them
The big “B” remains supreme in that market. I am glad that the GN is finally realizing the fruits of their labor. It is a great little property.
Not sure how Dump Plaza is keeping their lights on. How the 1908’s mighty have fallen.