Last month saw the seven remaining casinos in Atlantic City post a 0.3% increase in aggregated gross gaming revenues to $205.36 million thanks in large part to a 26.9% improvement in February online win to $18.7 million.
According to official figures from the New Jersey Casino Control Commission, total land-based gaming revenues in the New Jersey resort city experienced a 1.8% decrease year-on-year to $186.64 million with Bally’s Atlantic City, which one of three Atlantic City properties operated by Las Vegas-based Caesars Entertainment Corporation, posting the largest such February decline at 4.7% to $16.31 million.
The nearby Borgata Hotel Casino And Spa, which is owned by MGM Resorts International, saw its land-based gaming revenues for February fall by 0.7% year-on-year to $58.18 million. This was further compounded by an 11.6% drop in online win for the month to $3.74 million and pushed the property’s total gaming revenues for the month down by 1.5% to $61.93 million.
However, Caesars Atlantic City reported land-based gaming revenues of $22.82 million for February, which was a boost of 0.9% year-on-year, while its parent’s online operation saw overall takings rise by 15.6% to hit $3.49 million.
Similarly, Harrah’s Resort Atlantic City reported that land-based February gaming revenues had improved by 0.5% year-on-year to reach almost $29.51 million while the nearby Golden Nugget Atlantic City, which is owned by Landry’s Incorporated, reported a 5% boost to $16.41 million. Houston-based Landry’s Incorporated is additionally responsible for gaming sites such as GoldenNuggetCasino.com and it experienced a 66% swell in online takings for the 28-day month to $5.17 million to push its total February gaming revenues in New Jersey up by 15.2% to $21.59 million.
“Online gaming represents a growth vehicle for the gaming industry as it attracts a new and younger demographic,” Richard Schwartz, President for Chicago-based Rush Street Gaming, which operates the PlaySugarHouse.com domain in partnership with Landry’s Incorporated, told the local Courier-Post newspaper. “Plus, industry data shows that existing bricks-and-mortar casino players, who subsequently become online players too, return more frequently to the bricks-and-mortar casino and spend 15% more on the casino floor.”
Among the biggest February winners in Atlantic City was the Resorts Casino Hotel, which is operated by the Mohegan Tribal Gaming Authority, as it saw land-based gaming revenues increase by 21.4% year-on-year to $15.11 million. In addition, the Boardwalk property’s online takings swelled by 131.5% to $3.05 million to thrust its overall gaming revenues forward by 31.8% to $18.16 million.
Finally, the Tropicana Casino And Resort Atlantic City, which is run by Tropicana Entertainment Incorporated, reported February land-based gaming revenues of $28.27 million, which was a rise of 28.1% year-on-year. This was complimented by a 6.6% boost in online takings to $3.25 million and advanced overall monthly gaming revenues by 25.5% to $31.52 million.
“The current operators continue to show resiliency in a challenging gaming market and have been able to increase the New Jersey gaming market,” Matt Levinson, Chairman for the New Jersey Casino Control Commission, told the Courier-Post while revealing that combined Atlantic City casino revenues for January and February are currently up by nearly 4% when compared with the same two-month period in 2016.