It was more of the same for Atlantic City last month. Overall gambling revenue slid 9.5%, even as surviving operators experienced 
individual increases. The headline item is that Internet gaming grew 23%, bringing in almost $12 million. Borgata dominated that market, with a 30% share, while Caesars Interactive, Tropicana Atlantic City and Golden Nugget were all bunched together in a cage match for second place. With only 3% share, Resorts Atlantic City was a non-factor.
Eight percent less coin-in led to a 10% slump in slot revenue. Table game action was even weaker, down 16.5%, although the damage was contained: Casino win was down only 8%. Play was 6% up at Borgata and the house won big: +42%. Even an 8% drop in slot handle couldn’t dampen the house’s luck: Borgata’s winnings were 11% up.
Trump Taj Mahal continued its race to the bottom, down 23.5% on a $15 million gross. It should flip places soon with Resorts, up 19% with $14 million won. A new, low-roller marketing campaign at Bally’s Atlantic City isn’t paying dividends yet. The casino was 3% down, winning $17 million. Caesars Atlantic City had a mild malaise, too, grossing $28 million for a 2% drop. Harrah’s Resort, not surprisingly, led the Caesars Entertainment pack, banking $32 million and a 7% increase.
Borgata, which grossed $57 million, posted an 18% increase. Golden Nugget grew business 20% and grossed $17 million, Atlantic City’s equivalent of the Little Casino That Could. Finally, Tropicana Entertainment couldn’t work its usual magic last month, down 5% and winning $25 million.
The odds of survival for the eight remaining casinos look good. When you look at where some of the corpses were this time last year ($11 million at Revel, $5 million at Trump Plaza) it’s amazing they could keep the doors open even then. New Caesars CEO Mark Frissora‘s reputation as a cost-cutter does cause some apprehension, though, at least for Bally’s future.
