Atlantic City casino revenue is down from one year ago, at least at the Borgata property, according to a February 12, 2016 reveal. The figures were released by the New Jersey Division of gaming Enforcement. The report showed the eight casinos had a combined $175.5 million in gaming revenue, which is 5.6 percent less than January 2015. However, if you count the states revenue for regulating online gambling, which was $14.6 million, the percentage is closer to a 3.8 percent difference from a year ago.
The numbers are a true comparison with regards to revenue, as opposed to years prior. The 2014 and 2015 comparison was not as accurate due to casino closures. This time it has been an “apples to apples” mathematical comparison of the numbers.
If one does not concentrate on the online numbers, and just looks at the land based casinos, four found profit and four did not. Borgata’s revenue fell 8.8 per cent, earning only $52.1 million. However, the revenue for Borgata was almost twice the amount earned by Harrah’s, which was down 9.6 percent. The casino earned 27.8 million for the month of January 2016.
The Tropicana had a stronger month, with an increase in gaming revenue. The casino earned $21.1 million in revenue, which was up 5.8% over a year ago.
Caesars was down 13.5 per cent, with only $20 million in revenue. The bottom half of the chart in terms of casinos showed increases. The Golden Nugget rose 5%, Trump Taj Mahal increased by 2.3%, and only Bally’s lost 12.3% in revenue comparisons.
Given the situation, New Jersey legislators are still concerned over the revenue for casinos. They fear more bankruptcies may occur, unless they can pass new legislation that would stop this from happening. A part of the issue is the strain on Borgata’s relationship with the city due to taxes.