{"id":23933,"date":"2019-04-15T11:29:26","date_gmt":"2019-04-15T19:29:26","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=23933"},"modified":"2019-04-15T11:29:26","modified_gmt":"2019-04-15T19:29:26","slug":"boffo-month-for-new-jersey-detroit","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/boffo-month-for-new-jersey-detroit\/","title":{"rendered":"Boffo month for New Jersey, Detroit"},"content":{"rendered":"

Atlantic City<\/strong> casinos sprang through March with a 16% revenue boost (albeit 5% cannibalization of last year’s grosses), booking $223 million, including a 18.5% surge in slot win while table games were up 9% \"\"(albeit down 13% on a same-store basis). One of the victims of the latter was Borgata<\/strong>, down 8% at the tables and 1.5% worse\u00a0overall. A 1.5% bump in slot win helped. The Caesars Entertainment<\/strong> trio also got clobbered at the tables, down 14% on 10% less wagering. Slot win was also 5% on 3% less coin-in. After Borgata ($59.5 million) came Tropicana Atlantic City<\/strong> ($27 million), holding onto second place despite a 6% slippage, Harrah’s Resort<\/strong> clocked $26.5 million (-16.5%) and Hard Rock Atlantic City<\/strong> checked in with $24.5 million, good for the #4 spot.<\/p>\n

Volatile Caesars Atlantic City<\/strong> actually gained ground, up 4% to $23 million, while grind joint Bally’s<\/strong> slid 6% to $15 million. Last place went to Resorts Atlantic City<\/strong> (just under $15 million, flat), topped by Ocean Casino Resort<\/strong> again ($15 million, N\/A). Also in the mix was Golden Nugget<\/strong>, of course, with $17.5 million, a 9% falloff.<\/p>\n

Sports betting rebounded (and I use that verb advisedly) in March, for a simple reason: roundball.\u00a0\u201cThe first week of March Madness<\/strong> generated more action than the Super Bowl<\/strong>, and even the First Four \"\"games attracted enough betting to rival a busy weekend of NFL<\/strong> regular season football,\u201d said PlayNJ.com<\/strong> analyst Dustin Gouker<\/strong>. Total handle was $372.5 million, second-best month for New Jersey<\/strong> to date. That translated to almost $32 million in win.\u00a0\u201c$2 billion in bets in nine months shows just how much pent-up demand for legal sports betting existed in New Jersey,\u201d continued Gouker.\u00a0\u201cAs quickly as the industry has ramped up, though, the next milestone should come more quickly. $3 billion is certainly within reach by the industry\u2019s first anniversary in June.\u201d<\/p>\n

Online,\u00a0FanDuel Sportsbook<\/strong>\/Pointsbet<\/strong> led with $13 million, distantly followed by DrafKings with $7 million. At nearly $1.5 million, Ocean’s online book was the only other to generate more than chump change. Terrestrial books were led by The Meadowlands<\/strong> (FanDuel) with $4 million-plus, followed by Monmouth Park<\/strong>, with just shy of $1 million. The Atlantic City books are more competitive here than in the online category, with the notable exception of Hard Rock, a dud with bettors, taking in less than $80,000 between online and brick-and-mortar sports operations.<\/p>\n

* Detroit<\/strong> casinos grossed $140.5 million last month. MGM Grand Detroit<\/strong> led the market with $59 million and a 2% gain while MotorCity<\/strong> was flat with $49 million. Greektown Casino<\/strong> was up 2.5% to $32 million. Incoming owner Penn National Gaming<\/strong> should like those numbers.<\/p>\n

* Pennsylvania<\/strong> slot grosses are in and Boyd Gaming<\/strong> continues to make dramatic gains at Valley Forge Casino Resort<\/strong>, up 13% to $9.5 \"\"million. Parx Casino<\/strong> led the state with $39 million (+5%), while dramatic gains were made at Rivers Casino<\/strong> ($28 million, +6%) and Mount Airy<\/strong> ($13 million, +7.5%). Slippage at The Meadows<\/strong> ($19 million, -2%) was largely made up by Penn National at its namesake racino in Harrisburg<\/strong> ($20 million, +1.5%). Other gainers included Harrah’s Philadelphia<\/strong> ($19 million, 1%), Presque Isle Downs<\/strong> ($11 million, +3%) and SugarHouse<\/strong> ($18 million, +2%). Losers, predictably, were led by luckless Lady Luck Nemacolin<\/strong> ($2.5 million, -10%) and by Mohegan Sun<\/strong> ($18.5 million, -3%). Sands Bethlehem<\/strong> was flat with $28 million reported.<\/p>\n","protected":false},"excerpt":{"rendered":"

Atlantic City casinos sprang through March with a 16% revenue boost (albeit 5% cannibalization of last year’s grosses), booking $223 million, including a 18.5% surge in slot win while table games were up 9% (albeit down 13% on a same-store … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":22479,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,60,244,176,154,44,199,172,165,37,241,245,167,248,257,69,95,111,242,74,243,129],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/23933"}],"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=23933"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/23933\/revisions"}],"predecessor-version":[{"id":23937,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/23933\/revisions\/23937"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media\/22479"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=23933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=23933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=23933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}