Atlantic City Casinos Struggle to Break Last Year’s Figures

Atlantic City’s nine casinos are progressing and forever adapting to the competitive atmosphere along the Boardwalk. At the moment, online verticles such as casino, sports betting are both enjoying much success. However, the same isn’t true for Brick-and-Mortar locations. In fact, April’s revenue report released by the New Jersey Division of Gaming Enforcement reveals YoY gains are actually coming up short.

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A Deeper Look Insidedge Atlantic City Casinos Struggle to Break Last Year’s Figures

As we all know, the casino market in Atlantic City is going through massive changes. Due to this fact, it’s hard to predict where things could be leading in the near future. So as we open up this report, keep in mind, there’s always an underlying story that the numbers don’t tell you. With that said, the Borgata still reigns supreme in AC.

According to the report, they’re the only casino who improved YoY, although only by 0.5% to $53.4 Million. As for Hard Rock and Ocean Casino Resort, they didn’t open until late June 2018, so it’s still too early to see where they stand YoY. But when comparing the totals to last months, both casinos mimicked their March results. On the other hand, Caesar’s slid 24% to $22 Million. And Golden Nugget, the king of NJ online casino, dropped 23.4% to $15.5 Million.

From Another Perspective

Being that AC is under construction at the moment, it’s hard to determine what caused the numbers to dip. With all investments taking place, money is kind of floating in all directions. But the good news is, people are still flocking to AC, spending money and having a great time. Indeed, revenue from slots rose 6.1% to $144.86 Million. At the same time, table games shot up 14.3% to $62.7 Million YoY. So as one can see, people are coming and playing, but it doesn’t look like they’re dining out and staying overnight as much. After all, if gaming is up and properties are down, besides investments, what else could it be?