Gambling Business: Atlantic City Casinos Continue Winning Streak Against Gamblers
Money Won From Players Was $205 Million In February
Atlantic City gaming revenue was relatively flat in February, but it was technically another win for the struggling casino industry in the seaside gambling town.
According to figures released by state gaming regulators, total gaming win was $205.4 million last month, up 0.3 percent compared to the $204.7 million won in February 2016.
Last year, the casinos recorded $2.6 billion in gambling win, which was 1.5 percent better than 2015. It marked the first time in a decade that citywide gaming win increased year-over-year.
Internet gaming win was $18.7 million last month, up 27 percent compared to the $14.7 million won during the same month last year. Online poker revenue was $2.2 million, up nearly nine percent year-over-year. The other web games generated most of the revenue.
If it wasn’t for internet gaming, citywide gaming win would have decreased two percent last month. Atlantic City launched online casino gambling in late 2013.
For the year-to-date, brick-and-mortar win totaled $372.5 million through February compared to $365.4 million in the prior period, reflecting a increase of two percent.
Internet gaming win increased 28 percent to $37.5 million compared the same period last year. Total gaming win increased to $410 million, reflecting an increase of four percent compared to the same period last year.
Online gaming win is expected to grow by 17 percent in 2017. In 2016, the online casinos won $196.7 million, up 32 percent over 2015.
Three years after Atlantic City lost four of its then 12 casinos, the market may be turning around. The Atlantic Club, which was the first of the casinos to close in 2014, has been sold. The Trump Taj Mahal, which closed in October, also recently found a new owner.
Below is a breakdown by operator based on February total gaming win.
Borgata: $61.9 million
Tropicana: $31.5 million
Harrah’s: $29.5 million
Caesars: $22.8 million
Golden Nugget: $21.6 million
Bally’s AC: $16.3 million
Resorts: $15.1 million
Caesars Interactive NJ: $3.5 million
Resorts Digital: $3.1 million
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