{"id":19000,"date":"2016-10-13T11:55:05","date_gmt":"2016-10-13T19:55:05","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=19000"},"modified":"2016-10-13T11:55:05","modified_gmt":"2016-10-13T19:55:05","slug":"mixed-signals-from-atlantic-city","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/mixed-signals-from-atlantic-city\/","title":{"rendered":"Mixed signals from Atlantic City"},"content":{"rendered":"

Despite having an extra weekend day last month, casino receipts in Atlantic City<\/strong> were down 3.5%, largely driven by the Trump Taj Mahal<\/strong>. (Subtract the Taj from the equation \"Goldenand you’d have a flat year\/year comparison.) Table game revenues were down 2% on flat wagering and slot winnings were 4% off, in line with 4% less coin-in. Borgata<\/strong> outperformed the market (big surprise, I know), with 6% more coin-in producing 4% more slot revenue. But Lady Luck wasn’t with MGM Resorts International<\/strong> at the tables, where the house was down 2% despite 8% higher wagering.<\/p>\n

Online gambling was the brightest spot, with Internet revenues up 35%. The market-share leader, surprisingly, was the Golden Nugget<\/strong>, with 22.5% market share. For all the ballyhoo over the dramatic impact PokerStars<\/strong> would have on the cyber-Boardwalk (arguably the most overhyped gaming story of the year), Resorts Digital<\/strong> is stuck in last place (18%). As far as terrestrial casinos were concerned, The\u00a0Taj ($8 million) went into a death spiral, plunging 51% as picketers kept players at \"icahn\"bay. The latter gravitated to Resorts Atlantic City<\/strong> ($17 million), up 11%. Carl Icahn<\/strong> made back some of what he lost at the Taj at Tropicana Atlantic City<\/strong>, which gained 7% on a $26 million gross. The Golden Nugget also benefited, up 4% to $18 million. Borgata rounded out the gainers, with a 2% uptick and $64 million gross.<\/p>\n

The Caesars Entertainment<\/strong> trio had a bad month, though. Bally’s<\/strong> fell 4%, to $18 million, while Caesars Atlantic City<\/strong> conceded 4%, to $30 million. Even Harrah’s Resort<\/strong> wasn’t immune, dropping 8% to $29. It’s an uncharacteristically poor performance for Harrah’s, which usually outperforms Caesars. Still, when you throw out the dead weight that was the Taj — along Caesars’ inexplicable woes — it wasn’t a bad month to own a casino in Atlantic City. Still, considering that Glenn Straub<\/strong> will have to create customer loyalty and brand equity from scratch, we don’t envy his task in opening Ten<\/strong>. Whichever casino operator Straub signs — and he has been nothing if not coy on the subject — had better bring a big player database with them.<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite having an extra weekend day last month, casino receipts in Atlantic City were down 3.5%, largely driven by the Trump Taj Mahal. (Subtract the Taj from the equation and you’d have a flat year\/year comparison.) Table game revenues were … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,82,185,7,37,11,167,178,157,129,21],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/19000"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=19000"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/19000\/revisions"}],"predecessor-version":[{"id":19001,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/19000\/revisions\/19001"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=19000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=19000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=19000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}