Inside Gaming: Atlantic City Casinos Enjoy Revenue Gain to Start Year

This week’s installment of Inside Gaming shares the news that Atlantic City casinos collectively enjoyed a revenue gain during the first part of 2016, reports on an IRS charge that an Iowa casino should lose its nonprofit status, and tells of the Las Vegas Sands agreeing to pay another fine resulting from allegations of violating gaming laws.

Atlantic City Casinos See Revenue Increase To Start the Year

While much of the financial news regarding the eight remaining casinos on Atlantic City’s famed boardwalk has been negative over the last couple of years, the latest revenue reports show 2016 has started off on a better foot with a 4.4% increase in gambling revenue over the first four months of the year.

As shared by the Press of Atlantic City, regulators reported the news yesterday that the city’s eight casinos produced $812.8 million in gambling revenue from Jan.-Apr. 2016. That total includes online gambling revenue earned by the casinos, constituting $61.8 million of the total (up a significant 29.3% year-over-year), while brick-and-mortar revenue added up to $750.9 million (for a 2.7% yearly increase).

While bettering the start of 2015, that $812.8 million total is 7% less than what Atlantic City casinos earned during the same period in 2014, and 35.6% less than what they earned in 2009. Following the closure of four Atlantic City casinos in 2014, the remaining eight all enjoyed an increase in profit during 2015.

The Borgata Hotel Casino & Spa led as usual in total gaming revenue with $237.4 million for the first four months of the year, up 4.5% over 2015. That’s about twice the revenue of the next-closest Harrah’s Resort which earned $114.7 million over that period, a decrease of 4.3% from a year ago.

Other casinos enjoying increases from Jan.-Apr. included the Resorts Hotel Casino (up 12.7%), the Golden Nugget Atlantic City (up 9.3%), the Tropicana Atlantic City (up 9%), and Bally’s (up 6.9%),

Meanwhile joining Harrah’s in seeing declines were Caesars Atlantic City (down 4.3%) and the Trump Taj Maha Casino Resort (down 3.4%).

For more on the overall gain by Atlantic City casinos so far this year, check out the Press of …

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