Sharp rise in July casino revenues for Atlantic City

The nine casinos in Atlantic City reportedly saw their aggregated gross gaming revenues for July increase by 12.8% year-on-year to reach just over $302.05 million although average earnings per venue for the 31-day month dropped by some 13% to hit around $33 million.

City acclimatizing to n 7BALL ew casinos:

According to a Tuesday report from NJ.com citing official ps from the New Jersey Division of Gaming Enforcement (pdf), the comparable rise in overall revenues for the month was largely down to the June 28 opening of two new casinos in the Ocean Resort Casino and the Hard Rock Hotel and Casino Atlantic City. These venues posted July takings of $17.09 million and $32.71 million respectively while detailing combined online gaming win in excess of $585,000.

Golden Nugget Atlantic City weathers the competition:

Golden Nugget Atlantic City was reportedly the only one of the New Jersey resort city’s more established casinos to record a year-on-year boost in its overall gaming revenues for July after its tally rose by 8.8% to reach $29.43 million. The official ps detailed that the 728-room venue owned by Landry’s Incorporated chalked up a comparable 49.3% swell in online gaming win for the month to approximately $9.32 million although its land-based returns fell by some 3.3% to about $20.11 million.

Borgata Hotel Casino and Spa retains top spot:

The nearby Borgata Hotel Casino and Spa, which is owned by MGM Resorts International, reportedly remained the highest-grossing casino in Atlantic City last month after its combined gaming revenues for July hit almost $76.62 million. But, this p represented a decline of 4.4% year-on-year and came despite the 2,000-room venue earning $562,830 after becoming the first property in the city to offer sportsbetting alongside announcing a 30.3% improvement in online gaming win to $4.93 million.

Bad month for Tropicana Casino and Resort Atlantic City:

The ps from the New Jersey Division of Gaming Enforcement also showed that the Tropicana Casino and Resort Atlantic City, which is run by Tropicana Entertainment Incorporated, held on to its position as the city’s second most-lucrative property last month despite posting a 9.8% wane year-on-year in gaming revenues to $37.04 million.

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The Boardwalk facility furthermore explained that it had earned $3.35 million from online gaming activities in July, which equated to a comparable diminution of 6.6%.

Caesars Entertainment Corporation venues disappoint:

For its part, Harrah’s Resort Atlantic City reportedly recorded the biggest comparable dip in gaming revenues for July after its takings fell by 14.1% year-on-year to $31.43 million although the Caesars Entertainment Corporation-owned venue is said to be hoping this situation will be assuaged in the future by its recent launch of a sportsbook.

July was additionally a bad month for its sister Caesars Atlantic City after the beachfront property saw its combined gaming revenues fall off by 10.3% year-on-year to $29.35 million despite its associated Caesars Interactive NJ concern recording a 17.2% rise in monthly takings to $3.76 million.

Las Vegas-based Caesars Entertainment Corporation is furthermore responsible for Bally’s Atlantic City and this Boardwalk venue posted combined July gaming revenues of $20.57 million, which represented a year-on-year drop of about 9.9%.

Resorts Casino Hotel off the pace:

Finally, Resorts Casino Hotel, which is operated by Mohegan Gaming and Entertainment and sits next door to the new Hard Rock Hotel and Casino Atlantic City, reportedly saw its gaming revenues in July plummet by 12.7% year-on-year to $17.84 million although its online win for the month rose by 5.1% to reach $3.94 million.