Online gaming the plus point as Atlantic City endures poor 2018

Online gaming the plus point as Atlantic City endures poor 2018

Friday, March 16, 2018 Posted by Craig Davies
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Brick and mortar casinos expected to hit back

The Atlantic City land based and online casino industries had a month of contrasting fortunes in February, with an overall total gaming win decline of 6.5% to $192m reported, compared to $205.3m for the same period in 2017.

That does not tell the full story however, with the figures released by the New Jersey Division of Gaming Enforcement reporting a strong online showing, with the disappointing brick and mortar figures continuing January’s trend.

An 8.9% year on year decrease to $170m for land based casinos was recovered somewhat by the online entity, which rose from $18.7m to $21.9m, or 17.5%.

Hardest hit was table games which saw a drop of 15.5% to $45.9, while Golden Nugget was the only property to see its casino win show a profit.

The 4.7% increase to $17.1m, representing a rise of a little over $700,000, added to by a huge 52.4% jump in the firms internet gaming, which closed the month on a figure of £7.8m.

Tropicana’s land based decrease of 8.4% to $25.9 was alleviated a little by a 2.9% increase in its online sector, while Borgata’s fate was somewhat similar with $54.9m casino revenue representing a 5.5% drop, contrasted with a slight 1.2% online rise to $3.7m

Resorts on the other hand has the dubious honour of recording one of the highest land based percentage decreases, of 20.9% from $15.1m to $11.9m, and one of the largest online percentage gains, rising 23.7% from $3.05m to $3.7m.

Such contrasting fortunes were not evident at Caesars however, who saw both its online and offline businesses fall for the month.

A 23% decrease in land based revenue, down $5.3m to $17.5m, was added to by an 8.7% drop in internet gaming to $3.1m from $3.4m.

Of Atlantic City’s two casinos solely operating land based businesses, Bally’s fell 12.8% and $2.1m to $14.2m, while Harrah’s saw a 4.3% decline from $29.5m to $28.2m.

Similarly to the previous month, when a poor showing was allied to an abundance of snow that had fallen onto the region, the damage to profits is again blamed on extreme weather that has hit parts of America’s east coast.

Totally Gaming says: It hasn’t been a strong first two months of 2018 for Atlantic City, with year to date total win also 8.2% behind where it was this time last year, with $376.3m compared to $410m. These poor figures across the first two months though are not believed to be indicative of Atlantic City’s 2018 performance, especially with two new casinos, in Hard Rock and Ocean Resort Casino, set to open later in the year.

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