{"id":23536,"date":"2019-02-15T12:02:44","date_gmt":"2019-02-15T20:02:44","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=23536"},"modified":"2019-02-15T12:02:44","modified_gmt":"2019-02-15T20:02:44","slug":"atlantic-city-ocean-resort-stages-a-rally","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/atlantic-city-ocean-resort-stages-a-rally\/","title":{"rendered":"Atlantic City: Ocean Resort stages a rally"},"content":{"rendered":"

Atlantic City<\/strong> is weathering the winter months about as well as can realistically be hoped. Same-store revenues were down 8% last month but up 9% overall. Ocean Resort<\/strong> ($12.5 \"\"million) actually crept past Bally’s<\/strong> ($12 million) and up on Resorts Atlantic City<\/strong> (just under $13 million). Resorts, however, was the only revenue-positive casino, up 9%. Bally’s was down 5%. Borgata<\/strong> hauled in $50.5 million, a 5% dip, while Caesars Atlantic City<\/strong> got bushwhacked, down 21% to $17 million. Harrah’s Resort<\/strong> slid 8.5% but still booked $21.5 million. Things do not look as good for Hard Rock Atlantic City<\/strong>, down to $15.5 million for the month and a long way from target Tropicana Atlantic City<\/strong> ($21 million, -8.5%). However, it bested the Golden Nugget<\/strong>, down 9.5% to $14.5 million.<\/p>\n

Slot revenues were up 15% (down 3% same store) while table games slipped 3% (off 20% same-store, which we think reflected Caesars getting cleaned out). Borgata table win was up 16.5% despite 8% less in wagering. Caesars Entertainment<\/strong>‘s slot coin-in dropped 6% but win was only 2% off. Obviously the Ocean Resort numbers are encouraging and the Hard Rock ones somewhat alarming. Has the novelty worn off so fast?<\/p>\n

Sports books saw $385 million change hands but only held $18 million — a 21% increase from December but hardly surprising in view of the NFL<\/strong> playoffs. PlayUSA.com<\/strong> \"\"analysts tried to play up the January in numbers rather than the Super Bowl<\/strong>‘s $35 million handle and $4.5 million loss, a big egg on the face of Garden State sports books. PlayNJ.com<\/strong>‘s Dustin Gouker<\/strong> took the glass-half-full view, saying, “anecdotal evidence suggests visitation to Atlantic City for the weekend of the Super Bowl was way up. All in all, it was a successful first season of the NFL for New Jersey<\/strong>\u2019s sportsbooks.\u201d DraftKings<\/strong> ($7 million) and FanDuel<\/strong> ($6 million) cleaned up online, leaving only crumbs — $196 at the Trop — for everyone else. Terrestrial sports books were led by FanDuel at The Meadowlands<\/strong> ($1.2 million), followed by Monmouth Park<\/strong>, Borgata, Resorts and Bally’s, etc.<\/p>\n

* Across the border in Pennsylvania<\/strong>, slot revenues were up 1%. In terms of performance, Boyd Gaming<\/strong>‘s Valley Forge Casino<\/strong> led the state with an 18.5% vault to $8 million. Of the big boys, Parx Casino<\/strong> was up front with $33 million, up 7%, \"\"although it was bested in percentage numbers by Rivers Casino<\/strong>, jumping 11% to $23.5 million. Sands Bethlehem<\/strong> continued to feel the effect of Resorts World Catskills<\/strong>, down 7% to $21 million, while Mohegan Sun Pocono Downs<\/strong> tumbled 9% to $14 million. Mount Airy<\/strong> fell 7.5% to $10 million, while Penn National Gaming<\/strong>‘s Harrisburg<\/strong> flagship dipped 1.5% to $15 million. Penn’s other property, The Meadows<\/strong>, gained 3.5% to $15.5 million and Presque Isle Downs<\/strong> dropped 3% back to $7.5 millions. As for the other Philadelphia<\/strong>-area casinos, SugarHouse<\/strong> gained 5% to $14.5 million while Harrah’s Philadelphia<\/strong> slipped a percentage point, to $15.5 million. If anyone still cares, Lady Luck Nemacolin<\/strong> plummeted 20% to $1.5 million. How it stays open is anybody’s guess.<\/p>\n

* January was kind to the Detroit<\/strong> market, up 1.5%. MotorCity<\/strong> had a rare off month, down 1.5% to $37.5 million. MGM Grand Detroit<\/strong> gained 4.5% to $50 million and Greektown<\/strong> was flat, just shy of $26 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

Atlantic City is weathering the winter months about as well as can realistically be hoped. Same-store revenues were down 8% last month but up 9% overall. Ocean Resort ($12.5 million) actually crept past Bally’s ($12 million) and up on Resorts … 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":[23,60,239,244,176,154,44,199,120,172,165,37,241,245,167,248,101,69,95,111,242,243,129],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/23536"}],"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=23536"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/23536\/revisions"}],"predecessor-version":[{"id":23537,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/23536\/revisions\/23537"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=23536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=23536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=23536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}