Revel, Trop Help AC Numbers [AUDIO]
Revel, which filed for bankruptcy in the middle of last year, experienced a revenue jump of 50 percent at its slots and tables, compared to March 2013.
Tropicana, Resorts, and the Golden Nugget also posted double-digit revenue increases in March.
Some success could be attributed to the recent closure of the Atlantic Club. Other casinos aggressively went after the club’s players. Tropicana bought the casino’s customer database.
More than half of the city’s casinos, though, posted year-over-year declines.
“The companies that continue to be stressed in Atlantic City would be the companies that have been stressed for a while,” said Dr. Israel Posner, executive director of the Lloyd D. Levenson Institute of Gaming, Hospitality & Tourism at Stockton College.
The two Trump properties, Plaza and Taj Mahal, witnessed a total revenue drop of 50 percent. Double-digit declines were also reported at Bally’s and Showboat, both a part of Caesars Entertainment.
Overall in March, the city’s physical casinos brought in $221 million from gamblers. The figure was 7 percent greater in March of last year.
Online gaming made its strongest showing in March, the fourth full month of the now-legal activity. Winnings approached $12 million, up 15 percent from the month prior.
Posner suggested the online numbers will keep improving in the immediate future as “banks and cash processors” jump on board.