Poker Coverage: Poker Legislation Poker Business Poker Tournaments

Hurricane Sandy Causes Worst Revenue Drop In Atlantic City History

Revenue At City's 12 Casinos Drop By 19.9 Percent

Print-icon
 

Atlantic City BoardwalkHurricane Sandy, otherwise known as the superstorm, didn’t do much structural damage to Atlantic City’s casinos, but she did manage to put a sizable dent in their wallets.

The storm was so powerful that New Jersey Gov. Chris Christie ordered the city’s 12 casinos to close. The unexpected four to six days off caused a 19.9 percent drop in gambling revenue for the month of October, a plummet not seen since Hurricane Irene forced a three-day closure in August of 2011.

The state’s Division of Gaming Enforcement reported that Atlantic City casinos brought in a total of $209.4 million during the month, down from $261.4 million one year ago.

It wasn’t just the closures that cost the casinos. Even after reopening, gaming officials were reporting a lower volume of visitors to the area due to various storm relief and clean up efforts.

The Trump Taj Mahal Casino Resort took the hardest hit, dropping 38 percent and taking in only $18.6 million. Bally’s Atlantic City fell by 33 percent to $19.8 million and the Trump Plaza Hotel and Casino fell by 32.5 percent to $6.6 million.

Revel, the city’s newest casino, had their worst month since taking in $13.4 million during their trial opening last October, generating only $9.3 million in revenue.

Atlantic City gaming revenue has been on the decline ever since posting its peak numbers of $5.217 billion in 2006. Through 10 months, Atlantic City is on pace to have another down year, having won only $2.7 billion, or 6.2 percent less than the same period in 2011.

 
 
 
 
 
 

Most Viewed Articles
 

1 Former Roulette Dealer Faces Criminal Charges For Telling Gambler About 'Lucky Number'
2 Gus Hansen Nears $20 Million In Web Poker Losses
3 'Invisible Ink' Poker Cheat Banned From Connecticut Casinos
4 Poker Strategy With Ed Miller: Are You Running Bad Or Playing Bad?
5 Olivier Busquet Wins European Poker Tour Barcelona €50,000 Super High Roller
6 Poker Strategy With Alan Schoonmaker: Why You Can't Beat Low Limit Games
7 Four Elderly Men Accused Of Palming, Swapping Cards At Minnesota Poker Table
8 Pennsylvania Supreme Court: $75K Mandatory Fine For Poker Dealer Who Stole $200 Is Unconstitutional
9 Report: Bag Of Revel Money Goes Missing After Apparently Falling Off Armored Truck's Roof
10 91-Year-Old WWII Veteran Attacked, Robbed Of Casino Winnings, Police Say
 
 
Get-it-delivered-240