Remaining Atlantic City Casinos See Revenues Increase in August

Remaining Atlantic City Casinos See Revenues Increase in August

Borgata remains the region s biggest earner, with casino and internet gaming win totaling $74.7 million, or about 30 percent of the entire market. The Marina District resort saw its revenues climb nearly eight percent.

Tropicana came in a distant second with $37.5 million, and Harrah s third at $32.3 million.

Tropicana, the only Boardwalk property in the top three, was the biggest percentage increase of the seven land-based casinos. Earnings jumped 13.5 percent at billionaire Carl Icahn s casino hotel.

Atlantic City officials are hoping the fall months continue the gambling town s economic recovery. The $2.6 billion Atlantic City casinos pulled in last year marked the town s first annual percentage increase since 2006 when it grossed $5.2 billion.

For gaming to continue heading in the right direction, .

Gross operating profits at casino resorts were up over 20 percent through the first six months of 2017. A surprising statistic considering that combined sales from casino, rooms, food and beverage, entertainment, and third-party businesses increased just 0.3 percent during the same period.

The main culprit is less revenue from hotel stays, down about $10 million in 2017 compared to a year ago.

There s plenty of optimism in the area. Hard Rock is spending over $500 million to transform for the former Taj Mahal into a rock n roll-themed resort. MGM and Caesars have both hinted at forthcoming investment renovations, and Icahn is expanding the Tropicana s overnight occupancy space by acquiring a nearby boutique hotel.