The revenue generated during February by the remaining casinos on the territory of Atlantic City was announced.
Last month, revenues were affected in a negative manner since it was one of the coldest this winter. The freezing temperatures and heavy snowstorms were not beneficial to the casino sales of the land-based casinos but their online business, to a certain extent, compensated for the losses.
Statistic shows that Atlantic City’s brick and mortar casinos reported a total decline of 2%. Numbers released by the New Jersey Division of Gaming Enforcement proves that compared to the amount generated in February 2014, the revenue was $3.4 million down.
The revenue from slot machines totaled $178.4 million. In comparison, the revenue generated this time last year was almost $182 million. However, it is important to note that last year was pretty eventful. In February 2014, there were 11 open casinos and three of them filed for bankruptcy by the end of the year.
Another thing that is worth mentioning is the fact that the land-based casinos in Atlantic City generated $166 million from slot machines, which marks a decline of $31.1 million or 16% year-on-year.
As for the Internet gambling revenue, it marked neither increase nor decrease. It remained flat at $10.4 million YOY. The standstill was attributed to the sum, won by a lucky user playing at BetfairCasino.com.
The Chairman of the Casino Control Commission, Matthew Levinson, commented on the matter and said that bearing in mind the severe weather conditions, the revenue for February was not that surprising. Mr. Levinson, however, is optimistic about the tendency for increasing revenues in both traditional and online casinos.
During January and February, there were only two casinos that reported a decline – Trump Taj Mahal and Bally’s. Resorts Casino Hotel, Tropicana Casino and Resort, Harrah’s Resort, the Golden Nugget reported gains for both months.
It would not be excessive to say that the Golden Nugget is the top performer on the Atlantic City gambling market. It reported a total increase of 44% for the first two months of the year. The increase for February alone was 22.5%. The gambling revenue jumped to reach $1.5 million.
Speaking of impressive online revenue, Tropicana is the leader for February as its Internet revenue doubled and amounted to $2.6 million.
The revenue reported by Bally was $14.3 million; Borgata managed to generate $48.6 million; Caesars generated 24.6 million, which means that the decline reported by the above-mentioned properties was 13.6%, 2.7% and 3.7%, respectively.
