{"id":20335,"date":"2017-10-13T05:39:00","date_gmt":"2017-10-13T13:39:00","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=20335"},"modified":"2022-02-20T06:17:23","modified_gmt":"2022-02-20T14:17:23","slug":"warm-september-for-atlantic-city","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/warm-september-for-atlantic-city\/","title":{"rendered":"Warm September for Atlantic City"},"content":{"rendered":"

Things continue to look up for the Boardwalk. Last month, Atlantic City<\/strong> casinos showed a 2.5% revenue increase on a same-\"\"store basis. Toss the dead weight of Trump Taj Mahal<\/strong> out of the year\/year comparison and the growth is an impressive 6.5%. Better days really seem to be ahead for Atlantic City, if they’re not already here — and the reinvention of the Taj as Hard Rock Atlantic City<\/strong> should grow the market further. As for Glenn Straub<\/strong> at Revel<\/strong>, he’s drifted off into irrelevance.<\/p>\n

Market leader Borgata<\/strong> grossed $70 million (+8%), with table revenue up 23% on only 3% higher volume — the house played very lucky. By contrast, slot handle was up 6% but the house only kept 3% more than last year. Citywide, slot revenue of $153.5 million was up 4.5% on 6% less coin-in, while table action was up 5% but the house took home 2.5% ($58.5 million).<\/p>\n

“Caesars<\/strong> [Entertainment<\/strong>] continues to benefit from the Trump Taj Mahal closure in October 2016,” wrote Deutsche Bank<\/strong> analyst \u00a0Carlo Santarelli<\/strong>. However, the numbers do not \"\"seem to bear him out. Bally’s<\/strong> was 2% down, at $18 million, Caesars Atlantic City<\/strong> ($30 million) was flat, while Harrah’s Resort<\/strong> was the lone beneficiary, grossing $31 million for an 8% uptick. Instead, ex-Taj players would seem to be flocking to the Tropicana Atlantic City<\/strong>, up 14% to $30 million. As for the also-rans, Golden Nugget<\/strong> grossed $19 million (+5.5%) and Resorts Atlantic City<\/strong>\u00a0$18 million (up 5,5%).<\/p>\n

Resorts Digital<\/strong> had some good news to report in the online sphere, where it got some belated oomph from PokerStars<\/strong>, pushing it past the Trop and Caesars Interactive<\/strong> to 17.5% of \"\"market share. Golden Nugget, powered by Betfair<\/strong>, continues to own this category, with 28% of market share. This is the seventh consecutive month in which Internet<\/strong> gambling has broken\u00a0past the $20 million mark, up 26% from last year.\u00a0\u201cOnline gambling now accounts for some 10% of all casino revenue generated by Atlantic City casinos, which is a staggering total for such a young industry,\u201d said columnist\u00a0Steve Ruddock<\/strong>.<\/p>\n

Brick-and-mortar casinos benefited from one extra weekend day of business but there can be no question that Atlantic City has right-sized itself and the outlook remains bright. Send a copy of these numbers to those politicians who want to put a casino in the Meadowlands<\/strong>.<\/p>\n

\"\"* In Detroit<\/strong>, the lion didn’t roar last month. MGM Grand Detroit<\/strong> had one of its lower-grossing months, down 1% to $48 million. Both MotorCity<\/strong> and Greektown<\/strong> captured some of that market share with the former up 4% ($38.5 million) and the latter 2% higher at $27 million.<\/p>\n

* Having captured the Millennials, the nightclub industry now looks to conquer a grayer demographic<\/a>. Whether Generation X cottons to $250 bottles of vodka remains to be seen.<\/p>\n","protected":false},"excerpt":{"rendered":"

Things continue to look up for the Boardwalk. Last month, Atlantic City casinos showed a 2.5% revenue increase on a same-store basis. Toss the dead weight of Trump Taj Mahal out of the year\/year comparison and the growth is an … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":1900,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,154,44,4,185,165,7,37,53,11,167,157,129,21,169,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20335"}],"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=20335"}],"version-history":[{"count":2,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20335\/revisions"}],"predecessor-version":[{"id":30764,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/20335\/revisions\/30764"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/1900"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=20335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=20335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=20335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}