With the current turbulent times, the New Jersey Division of Gaming Enforcement (DGE) reports on negative numbers in comparison from the same period from last year. Although, it doesn’t take an industry expert to make the prediction in forehand of the DGE’s reveal. However, some venues suffered more than others. And it goes without saying; the most significant loss percentage naturally comes from operators portions banking on people showing up. And as a whole, the casinos in Atlantic City, including the racetracks, “only” raked in $91.1 Million in May 2020. By which is a jaw-dropping 65% down in comparison from the same period from last year. But let’s get down to specifics and see what the individual casinos reported.
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The golden goose on top
The trend is evident amongst the operators in Atlantic City, where the Golden Nugget still clutches a firm grip on the industry. With official figures telling us that the operator took home around $29 Million. And this with most sports being on hold. Meaning, the revenues mainly came from the online casino portion. All in all, 6.8% in the wrong direction comparison from the year before. But still good, all things considered. Next on the list is the Borgata and it’s $17.3 Million in earnings. Yet a decent figure, however, it’s a 72% drop from last year. Though, not all casinos could boast of being relatively satisfied. For instance, at the bottom of the barrel, together with Bally, down 99.8%, we find Ocean Casino Resort with a meager $1.5 Million, which translates into a negative 91.5% from May 2019.
Online casino for the win
Indeed, the case is clear cut, with no ifs and buts. The big winners are the businesses with an evolved online presence. And it would be surprising if not the bottom pack like Bally and Ocean Casino Resort didn’t pick up their effort to grab a share of the online casino profits. Still, with history as our guide, we do know that the market will bounce back. And we are soon to see headlines about record-breaking revenue months in Atlantic City.