Atlantic City casinos enjoy strong September trading
Atlantic City casinos enjoyed an 10.8% jump in revenues during the month of September, sparking talk of a revival in the city’s fortunes.
Borgata once again led the charge as operators posted $230.1m revenue for the month, a healthy rise on the $207.7m brought in during September 2014.
The figures released by the state Division of Gaming Enforcement show that land-based win was up 9.5% and internet gambling win rose 17.3%.
Matt Levinson, chairman of the New Jersey Casino Control Commission, said: “Slot revenue was up, table revenue was up, and Internet revenue was up. The numbers also reflect the underlying growth in the market that we have been seeing all year.”
The figures benefited from the Labor Day holiday falling in September this year, whereas in 2014 it was split between August and September, but analysts pointed to an uplift beyond the calendar and said it looks as though the market is recovering after a tough 2014.
The DGE said: “The industry experienced strong table game results for September 2015, up 26.2% compared to September 2014, due primarily to a more favorable table game hold percentage.”
Slots were up 3.7% to $153m, while the only sector to suffer a decline was peer-to-peer, down 15.1% to £1.8m.
Borgata maintained its dominance of the market and grew its win by 14.4% to £63m, leaving its revenue twice as large as its nearest rival Caesars.
But Caesars also enjoyed a very strong month, growing revenue 19.1% to £31.1m. Bally’s and Trump Taj Mahal were the only casinos to fare worse than September 2014, with strong growth figures posted by Resorts, Golden Nugget and Tropicana, and a modest growth at Harrah’s.
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