Atlantic City posts Favorable January results

The nine-casino market in Atlantic City reportedly had a good January after recording an almost 20% increase year-on-year in aggregated gross gaming revenues to $229.6 million helped by a 53% overall rise in takings from online gambling to $33.5 million.

Continuing progress:

According to a Wednesday report from The Press of Atlantic City newspaper citing official figures from the New Jersey Division of Gaming Enforcement (pdf), the results represented the eighth consecutive month of growth and were led by Golden Nugget Atlantic City, which detailed a 14.3% swell year-on-year in January gaming revenues to over $26.7 million.

The newspaper reported that the overall January tally moreover signified the seventh straight month of double-digit percentage improvements in the New Jersey seaside city and included a 66.9% swell year-on-year in iGaming takings for Golden Nugget Atlantic City to $12.1 million.

iGaming contribution:

The official figures reportedly showed that Resorts Casino Hotel, which is operated by Mohegan Gaming and Entertainment, had seen its gaming revenues for the 31-day period grow by 10.9% year-on-year to top $12.8 million with its Resorts Digital arm having posted a 65.8% growth to $6.4 million.

Divulged declines:

However, January was not as positive for everyone asCaesars Entertainment Corporation’s gigantic Bally’s Atlantic City suffered a 1.1% decline year-on-year in its overall gaming revenues to $12.6 million. This trend was purportedly even more pronounced for the Borgata Hotel Casino and Spa, which is owned by Las Vegas-based MGM Resorts International, as it recorded a 3.4% diminution to $55.8 million despite its online gaming operation having chalked up a comparable 14.2% rise to $4.7 million.

The Tropicana Casino and Resort Atlantic City, which is now owned by Gaming and Leisure Properties Incorporated, reportedly experienced a 6.2% drop year-on-year in its January gaming revenues to $24.5 million even though its online services recorded a 6.9% rise to reach slightly above $3.4 million.

January certainly wasn’t a good month for Harrah’s Resort Atlantic City as it saw its overall gaming revenues slip by 8.6% year-on-year to $21.5 million. Its sister Caesars Atlantic City venue experienced an even more severe 21.3% decline to $17.1 million although the pair’s Caesars Interactive New Jersey iGaming enterprise registered a 36.5% boost to $4.5 million.

New properties impress:

Finally, last month’s strengthening gaming revenues in Atlantic City had been prominently assisted by the recent premieres of the Ocean Resort Casino and the Hard Rock Hotel and Casino Atlantic City. These venues only opened on June 28 and posted aggregated takings for January of over $31.4 million, which had included some $2.1 million from iGaming.