Atlantic City casinos have released their financial results for October revealing a 19.9% fall in revenue to $209.4 million for October. Breaking the figures down further, slot machine revenue decreased 21.8% to $149.1 million for the month, while table game revenue was off by 14.6% to $60.2 million.
At the root of Atlantic City’s latest troubling figures was the super-storm Hurricane Sandy which, despite not doing much physical damage to Atlantic City’s 12 casinos, did force them to close for up to six days between October 28 and November 2.
As a result, Atlantic City casinos saw their revenue results plunge, with the city’s newest $2.4 billion centerpiece casino Revel having its worst ever month with just $9.3 million in revenue, down from $13.4 million the previous month. Nevertheless, Revel was not alone as all the other casinos also reported losses lead by the Trump Taj Mahal Casino Resort down 38% to $18.6 million.
Next, Bally’s Atlantic City revenue dropped 33% to $19.8 million; Trump Plaza Hotel and Casino down 32.5% to $6.6 million; the Showboat Casino Hotel down 27.2% to $15.1 million. Resorts Casino Hotel reported a 25.3% decline to $9.5 million; the Tropicana Casino Resort was down by 21.4% to $16.1 million, and the Borgata Hotel Casino fell by 21% to $42 million.
Finally, Harrah’s Resort Atlantic City was off by $18.3% to $26.6 million; Caesars Atlantic City down 16.7% to $26.9 million, the Atlantic Club down 7.1% to $10 million, and the Golden Nugget Atlantic City down 4.3% to $8.6 million.
Encouragingly, though, the City’s famous Boardwalk area, where 9 casinos are located, remained unscathed and reopened quickly after the storm passed. Commenting on the latest results, Casino Control Commission chairman Matthew Levinson, explained: “The numbers..clearly show that the storm had a noticeable impact on our casinos..[but] There was no damage to any of them or to the Boardwalk..As the region gets back to normal, so, too will the casinos. “
Overall, for the first 10 months of 2012 Atlantic City casinos have seen their revenue fall by 6.2% to $2.7 billion compared to the same period last year.

1. Atlantic City casinos see gaming revenue continue to increase 16 October 2019 (PRESS RELEASE) - The Casino Association of New Jersey today announced that Atlantic City continued to see growth in the month of September, according to the most recent Division of Gaming Enforcement gaming revenue results report.
2. Whilst October online gambling figures from Atlantic City licensees shone (see previous reports) the same cannot be said for the Q3-2018 results to end September released Friday by the New Jersey Division for Gaming Enforcement which told a tale of revenue growth but double-digit profit decline.

Two reopened Atlantic City casinos and half a year of sports betting helped push casino revenue up 7.5 percent in 2018 to nearly $2.86 million. Atlantic City’s casinos have a ways to go reverse that 50% decline: The 2018 figure of $2.896 billion in total revenue, though up 7.5% from 2017, only gets the industry back to 2013 levels. It’s worth noting that had the city’s casino industry stuck to brick-and-mortar gambling only, 2018 would have shown the lowest total revenues in AC. Leaked tax transcripts obtained by the New York Times are painting a clearer picture of the business failures of President Donald Trump during his time as a casino mogul in Atlantic City between.

This week's installment of Inside Gaming shares the latest revenue figures from Atlantic City, reports on yet another state jumping into the sports betting game, and notes a ten-figure sale of a Detroit casino.

October Another Positive Month for Atlantic City Casinos

Gaming revenue continues to trend upward for Atlantic City casinos, according to the latest monthly revenue report from the New Jersey Division of Gaming Enforcement. Collectively revenue in October was up 15.8 percent year-over-year, with casinos together reporting total gaming win of $234.3 million compared to $206.4 million in October of last year.

That makes five straight months of monthly revenue increases for New Jersey. Through 10 months the total gaming revenue this year in the state totals $2.387 billion or 6.3 percent more than the $2.246 billion from this point a year ago.

Just over $200.6 million of the revenue total came from the casino win (up 8 percent year-over-year), with a little more than $26.7 million of it coming via online gaming (up just over 30 percent).

Increasing the total further was revenue from sports betting (only introduced in mid-June of this year), with sportsbooks in New Jersey realizing a bit over $6.9 million in sports wagering gross revenue for the month. Meanwhile the two racetracks, Meadowlands and Monmouth Park, added another $4.7 million in sports betting revenue to push the state's total close to $11.7 million.

That collective win from sports wagering was down from September's more than $23.9 million. That said, more was bet on sports in October in New Jersey, with the monthly handle totaling $260.7 million compared to $183.9 million in September.

Both the increase in online gaming revenue and the introduction of sports betting helped fuel the overall gain. Also, the addition of two new casinos — the Hard Rock Atlantic City and Ocean Resort Casino (both of which opened in late June) — especially helped ensure the overall increase. Only one of the seven casinos in operation a year ago saw an increase in casino win in October, the Tropicana Atlantic City (up 2.1 percent).

The Hard Rock Atlantic City's combined gaming revenue (casino and internet) was a little more than $24.2 million in October, while the Ocean Resort Casino's was just over $14.5 million.

First Sports Wagers in Pennsylvania Placed at Hollywood Casino

You can now add Pennsylvania to the list of states offering sports betting. The Hollywood Casino at Penn National Race Course took sports bets yesterday afternoon during a 'live wagering test day,' reports The Inquirer.

Described by The Inquirer as a 'stealth launch,' William Hill USA is operating the sportsbook at Hollywood with the test period designed to make certain operations run smoothly and correctly follow all regulations.

Hollywood Casino is one of six Pennsylvania casinos who have filed for sports betting licenses over the last couple of months, with Valley Forge Casino Resort the latest having only just applied on Thursday. Others include Harrah's Philadelphia, Parx Casino, Rivers Casino Pittsburgh, and SugarHouse Casino. The licenses come with a $10 million fee, plus a 36 percent tax rate on revenue.

Last fall the state passed legislation significantly expanding gambling in Pennsylvania, including opening the door to 10 new 'mini-casinos' and more online gambling. Also included in that bill was a provision to legalize sports betting should the U.S. Supreme Court rule in favor of lifting the federal prohibition against doing so, something SCOTUS did by ruling in favor of New Jersey's appeal against the law in late May.

We were tallying here last week the list of states now offering sports betting which has now reached seven: Delaware, Mississippi, New Jersey, New Mexico, Nevada, Pennsylvania, and West Virginia.

Jack Entertainment Sells Greektown Casino in Detroit for $1B

This week the Detroit Free Press reported that Jack Entertainment, the Detroit-based gaming company founded by businessman Dan Gilbert, had sold the Greektown Casino-Hotel in Detroit for a hefty price tag of $1 billion.

The purchasers are the casino operator Penn National Gaming and the real estate investment trust VICI Properties. VICI Properties adds to a portfolio of gaming facilities that includes Caesars Palace in Las Vegas. In October 2017, VICI Properties completed a spin-off from Caesars Entertainment Operation Company.

Speaking to the Detroit Free Press, Gilbert clarified that 'even with $400 million in debt' on the casino, 'the sale will allow Gilbert to deploy hundreds of millions of dollars into his many other projects.'

Gilbert spoke of plans for several ventures, including many in the Detroit area. He would not confirm rumors of plans to buy the Detroit Tigers.

Atlantic City Casino Revenue October 2018 Calendar Printable

Greektown Casino-Hotel first opened in 2000, with Gilbert and partners purchasing the property in 2013. The casino features 100,000 square feet of gaming space, including 2,800 gaming machines, dozens of table games, and a poker room, with several restaurants and shops on site as well as a 400-room hotel.

Atlantic City Casino Revenue October 2018 2019

Pending review by regulators, the sale should be finalized in 2019.

Speaking of other ventures for Gilbert, the entrepreneur also this week acquired the free reference websites dictionary.com and thesaurus.com for an undisclosed amount. In a press release, Gilbert cheekily commented on the larger context of the acquisition.

Atlantic City Casino Revenue October 2018 Philippines

'From the genesis, we admit to invariable conjecture in the unmitigated competency of online mechanization to ameliorate the total sum of completed undertakings throughout our mortal existence,' noted Gilbert, adding that 'cognition and discourse are conjointly associated.'

Atlantic City Casino Revenue October 2018

^{Photos: 'Guitar at the main entrance of Hard Rock Hotel & Casino, Atlantic City, New Jersey' (adapted), Wcam, CC BY-SA 4.0; 'Ocean Resort Casino in Atlantic City, New Jersey' (adapted), Farragutful, CC BY-SA 4.0.}

Atlantic City Casino Revenue October 2018 Events

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