US – Less competition allows Atlantic City to thriveBy Phil - 16 February 2015
Seven of Atlantic City’s remaining eight casinos have reported revenue increases proving that less competition in the market has made them more profitable.
January’s gaming revenue was up nearly 19 per cent compared to a year ago. The Atlantic Club closed in January, the Showboat shut in August whilst Revel and Trump Plaza closed in September.
Matt Levinson, Chairman of the New Jersey Casino Control Commission, said of the casinos: “Seven out of them were up, and six reported double-digit increases. Even when you include the now-closed casinos in last year’s results, the total gaming win is still up. While it is always risky to say we’ve turned a corner or that there is light at the end of the proverbial tunnel, let me say that January’s results are very encouraging.”
Gaming Revenue came in at US$197.5m in January, representing an increase of 18.8 per cent, up from the $166.2 m generated in January 2014.
Resorts saw an increase in revenues of 31.8 per cent, Caesars was up 29.8 per cent, Tropicana increased by 28, whilst Harrah’s was up by 20.1 per cent. Only the Trump Taj Mahal Casino Resort saw its revenues drop, falling by 21.2 per cent to $12.1m.
Interactive was also up, month by month, generating $11.5m in January, up from $10.7m in December.