Atlantic City casino revenue, minus closure, rises - Los Angeles News | FOX 11 LA KTTV

Atlantic City casino revenue, minus closure, rises

Posted: Updated:

By WAYNE PARRY

ATLANTIC CITY, N.J. (AP) — Like a ship struggling to right itself in a roiling sea, Atlantic City's casinos are trying mightily to find balance amid a rapidly contracting and constantly changing gambling market.

On Monday, they got some unexpected good news, even if it might not last long.

Not counting the Atlantic Club, which closed in January, the 11 casinos that operated in both 2014 and 2013 increased their revenue by nearly 4 percent in June. Most of that improvement was due to the $9.5 million in Internet gambling winnings that did not exist a year ago.

The numbers come as Atlantic City's casino market is experiencing a rapid contraction. Trump Plaza sent out closing notices to 1,153 workers Monday, the Showboat is closing Aug. 31, and Revel says it also will shut down if a buyer can't be found at a bankruptcy court auction next month. That could result in a quarter of Atlantic City's casinos shutting down in just nine months in the oversaturated northeastern gambling market.

With the Internet money and without the Atlantic Club, the casinos won $235.9 million in June, up from $227.1 million in June 2013, when Internet gambling was not yet legal in New Jersey. Although it still helped the bottom line, Internet gambling registered its third straight monthly decline.

When the Atlantic Club's revenue numbers are factored in, however, the casinos' revenue was down 5.7 percent for the month.

Trump Plaza posted the biggest decline in June, down nearly 32 percent from a year ago to $4.7 million. Showboat was down 16.6 percent to $14.1 million, and Revel was down 1.9 percent to $11.3 million.

The Golden Nugget posted the biggest monthly increase, up more than 34 percent to $14.3 million. The Tropicana was up nearly 23 percent to $25.8 million.

Among Internet gambling sites, the Borgata continued to lead the market with $3.4 million in online winnings. Caesars Interactive had $2.6 million, the Tropicana had $1.7 million, the Golden Nugget had $710,635 and the two Trump casinos each had about a half million in online revenue in June.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

  • New Jersey NewsNew Jersey NewsMore>>

  • NJ National Guard unit to deploy to Persian Gulf

    NJ National Guard unit to deploy to Persian Gulf

    Friday, August 1 2014 8:34 PM EDT2014-08-02 00:34:45 GMT
    More citizen soldiers will be leaving New Jersey for the Middle East. Nearly 170 troops will depart the National Guard armory in Jersey City on Saturday for duty in the Persian Gulf.
    More citizen soldiers will be leaving New Jersey for the Middle East. Nearly 170 troops will depart the National Guard armory in Jersey City on Saturday for duty in the Persian Gulf.
  • Thousands come out for Blake Shelton's free beach show in Atlantic City

    Thousands come out for Blake Shelton's free beach show in Atlantic City

    Friday, August 1 2014 4:29 PM EDT2014-08-01 20:29:15 GMT
    Country music star and "The Voice" coach Blake Shelton played a free concert on the beach in Atlantic City in front of more than 60,000 fans Thursday night, promoters said. He performed on a stage build on the beach near The Pier at Caesars. Fans that couldn't get into the beach area could hear and watch from the Boardwalk and from boats moored in the water nearby.
    Country music star and "The Voice" coach Blake Shelton played a free concert on the beach in Atlantic City in front of more than 60,000 fans Thursday night, promoters said. He performed on a stage build on the beach near The Pier at Caesars. Fans that couldn't get into the beach area could hear and watch from the Boardwalk and from boats moored in the water nearby.
  • Home owned by Trump holdout sells at auction

    Home owned by Trump holdout sells at auction

    She once called Donald Trump "a maggot, a cockroach and a crumb." This week, he remembered her as "an impossible person."
    An Atlantic City-area real estate figure has bought at auction a property that earned its owner near-folk hero status for resisting decades of overtures from developers...
Powered by WorldNow

KTTV FOX 11
1999 S. Bundy Dr.
Los Angeles CA 90025

Main: (310) 584-2000
News Tips? (310) 584-2025

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices