The seven casinos in Atlantic City increased revenues by almost 8 percent in September when compared to last last year.
The Casino Control Commission revealed yesterday that the seven remaining casinos in Atlantic City increased gambling revenue by 7.9 percent in September when compared to the same period in 2016.
Total casino gambling revenue, including online gambling, totaled approximately US$235 million in September, up from the US$128 million raked in September 2016, when Atlantic City counted with the now closed Trump Taj Mahal.
Chairman and Chief Executive Officer of the Casino Control Commission, Matthew B. Levinson, said: “More than half of the casinos had their best September in a decade or more and the current operators as a group were up 7.9 percent, some of which was the result of having one more Saturday than in September last year.”
September finalised the three first quarters of the year on a good note, as year-to-date casino revenue totaled US$2 billion, US$200 million more than last year, when the industry reported US$1.8 billion, or an increase of more than 9 percent. “This isn’t just luck. Business is building. Revenue at one operator was flat, but every other casino and every internet operation was up for the first nine months of this year,” said Lenvinson, as Press of Atlantic City revealed.
Michael Clay, Administrator of the Financial Investigations Unit with the state Department of Gaming Enforcement, added that the increase in revenues show that the gaming industry in the city is growing rightfully: “The Atlantic City casino industry revenue results for September continue the 2017 trend of overall stability and individual property growth. These casino gaming results provide a strong foundation for the anticipated expansion of Atlantic City’s hospitality and gaming amenities in 2018.”
Moreover, online gambling grew by 27.1 percent to US$183.6 million in September, up from the US$144.5 million reported one year ago.
Steve Ruddock, analyst for PlayNJ.com, said that online gambling now accounts for some 10 percent of all casino revenue generated by Atlantic City casinos. “The bottom line is that legal online gambling has become an incredibly competitive market with many winners, and that has undoubtedly been a boom for New Jersey,” he added.…
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