The New Jersey Division of Gaming Enforcement posted on Monday information about the financial performance of Atlantic City’s eight operating casinos in February. Overall revenue last month amounted to $204.7 million, representing a 14.7% increase from the $178.4 million reported for February 2015.
Revenue from casino operations totaled $190 million, up 13% year-on-year. Revenue from online gambling operations also did quite well. It rose 41.8% last month to reach $14.7 million. The positive results were mainly attributed to favorable weather conditions as well as to the fact that February was a day longer than it was in 2015.
All but two Atlantic City casinos reported increases in their monthly revenue, with the Borgata being the top performer. The gambling venue generated 29.3% more than it did during the same month of 2015. Revenue at the casino amounted to $62.9 million in February 2016. Proceeds from land-based casino options totaled $58.6 million, up 30.6% year-on-year. Internet gambling brought in the amount of $4.2 million, up 13.4% as compared to the figure posted for February 2015.
Revenue at Bally’s was up 19.3% year-on-year to reach $17.1 million. Caesars was one of the casinos to post a decrease in its monthly turnover. Revenue at the venue totaled $22.6 million, down 8.3%. However, Caesars’ online casino division – Caesars Interactive NJ, performed more than well, posting a 19.6% increase in monthly proceeds to $3 million.
The Golden Nugget generated a total of $18.8 million last month, representing an increase of 17.5%. Casino operations contributed the amount of $15.6 million to the overall figure posted, up 7.9% year-on-year. Online casino games generated the amount of $3.1 million, up 113% year-on-year.
Revenue at Harrah’s grew 7.1% year-on-year to $29.3 million. Resorts was also among the gambling venues to report excellent performance last month. Casino games at the venue generated a total of $12.4 million in February, up 16.1% as compared to the $10.7 million reported for the same month a year ago.
Revenue from Resorts Digital, which started operations on February 21, 2015, totaled $1.3 million. Resorts’ online digital division was granted a full casino license by the state gambling regulator in August 2015.
Tropicana posted monthly revenue increase of 14.1%. The gambling venue generated a total of $25.1 million. Of those, $22.1 million came from land-based casino games, representing a 13.8% increase year-on-year. Online operations generated a total of $3.1 million, up 16.2%.
Trump Taj Mahal, which was recently acquired by billionaire Carl Icahn was the other Atlantic City casino to post a decrease in its February revenue, although an extremely slight one. Revenue at the venue dropped 0.2% to $12.1 million.
Following the monthly report published by the New Jersey Division of Gaming Enforcement, state legislators approved on Monday the proposed referendum for a casino expansion outside Atlantic City. They also authorized a question for the November ballot at which voters will be asked whether they support the construction of two casino complexes in North Jersey.
Here is the question itself as it will be featured in the upcoming November vote:
“Do you approve amending the Constitution to permit casino gambling in two additional counties in this State? At present, casino gambling is allowed only in Atlantic City in Atlantic County. Only one casino in each of the two counties would be permitted. Each casino is to be located in a town that is at least 72 miles from Atlantic City. The amendment would allow certain persons to apply first for a casino license.”
