Atlantic City: There’s life after Trump; Bluhm dominates in Pennsylvania

Finally liberated from year/year comparisons that included the dying Trump Taj Mahal, casinos in Atlantic City experienced 3% revenue growth last month. Internet gambling did even better, leaping 20%. For the lifetime of ‘Net betting in New Jersey, this brings the gross to $700 million and columnist Steve Ruddock predicts it will hit the billion-dollar mark by the end of next year. He said, “There’s the potential for super-sized growth in the year ahead. New Jersey is already in the process of linking up with Nevada and Delaware, and is exploring even more liquidity sharing options with Pennsylvania and international markets.” Ruddock added, “New Jersey online casinos will generate some $245 to $250 million in 2017. That is better than 100 percent more than the industry generated in 2014, when total yearly revenue was just $123 million.”

Among the beneficiaries were the state itself, which has generated over $39 million in online-tax revenue so far this year and Golden Nugget, which continues to lead all Atlantic City casinos in Internet-gaming gross. As for brick-and-mortar gambling, casinos grossed $186 million, led by — need I say it? — by Borgata. Its haul was $60 million on the dot, up 5%. Table game winnings were up 6% on only a slight uptick in wagering while slots were up 5.5% but coin-in rose 6%. Though the numbers were different by an integer here or there, the rest of the A.C. casinos paralleled Borgata’s fortunes.

The anniversary of a Trump-free Atlantic City brought an ironic twist for Caesars Entertainment, which lost market share for the first time in 14 months. Presumably there are no more Trump Plaza and Taj refugees to be welcomed through the Roman columns. Bally’s was down 5% to $15.5 million. Caesars Atlantic City grossed $23 million, up 8% but normally reliable Harrah’s Resort slipped 7.5% to $28.5 million. The man who put the Taj out of its misery, Carl Icahn, grossed $26.5 million at Tropicana Atlantic City, up 4.5%. Among the lone wolves, Golden Nugget raked in $17.5 million, up 4%, and Resorts Atlantic City grossed $15 million for an impressive $18.5 million gain.

The next competitive worry for casino owners is a bill in Trenton that would allow Internet-gambling venues at the Garden State’s parimutuels. However, this bitter pill is being sweetened with the requirement that the ‘Net-bet services be run either by an Atlantic City-supported platform like PokerStars or by an A.C. casino itself. So it’s not that big a fright.

* Across the border in Pennsylvania, slot revenues for November are in and the Keystone State is up 1% from last year. Only Mohegan Sun Pocono Downs was revenue-negative (-3%), while the majority of the industry was flat. The gains were mostly driven by Neil Bluhm‘s Rivers Casinos (+6%) and SugarHouse (+4%) and small-but-plucky Mount Airy, vaulting 12.5%. The top grosser was Parx Casino ($30 million), meaning that Sands Bethlehem ($24 million) will have to outperform at the tables to regain the #1 spot.

* This is my favorite news story of the day. It certainly demonstrates the dangers of staging excessively faithful recreations of the Nativity.

* Johnny Avello isn’t posting Oscar odds yet but, on the strength of the Golden Globes nominations, I would say emetic Sally Hawkins is the odds-on favorite for Best Actress, since she’s playing a mute — a gambit the Academy can never resist (nor will the Hollywood Foreign Press). Just ask Jane Wyman, Holly Hunter and Sir John Mills. Meanwhile, playing a historical figure is a can’t miss career choice, so awards-givers should start engraving statuettes for Gary Oldman in Darkest Hour. Based on the trailer, I’m tempted to say his is the best cinematic Winston Churchill yet.

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