Atlantic City casino revenue jumped 6.9 percent in July compared to the same month in 2015. The city s eight casinos still in operation pulled in $275.2 million, $17.7 million more than a year earlier.
Atlantic City casino revenues were up at most properties during July, but Carl Icahn s Trump Taj Mahal was an exception. The long-troubled casino will shut down permanently in less than a month after a long battle with unions. (Image: Heidi Gutman/Getty Images)The headliner of the revenue report is the Hotel Casino, which recently became wholly owned by MGM Resorts.
Atlantic City s most profitable resort had its best month in its 13-year history. With gross revenues totaling $84.8 million in July, Borgata eclipsed its previous monthly record and took full advantage of the an extra weekend and Independence Day holiday.
While we expected a good month with five full weekends, we are very pleased with a record-breaking month, Borgata Senior Vice President Joe Lupo told the Associated Press.
Taj Mahal TrumpedAlong with Borgata, four of the other seven land-based casinos posted percentage gains in July. One that didn t was not surprisingly the Trump Taj Mahal.
The commenced on July 1 over health insurance and pension benefits at the formerly Trump-owned property. More recently purchased by the GOP candidate s billionaire friend Carl Icahn, the casino tallied incomes of just $17.5 million, eight percent less than in 2015.
Icahn says he will end the casino s 26-year run following the Labor Day weekend. Gaming officials say the month was positive, regardless of the announcement that yet another Atlantic City casino is closing.
July was a solid month, even though several properties faced challenges including a strike by union employees, New Jersey Casino Control Commission Chairman Matt Levinson said.
Bally s (4.8 percent) and Harrah s (5.2 percent) were the other two casino properties that posted losses in July.
Table games were the best performers percentage-wise, with a nearly $7.5 million comparative boost to $75.7 million. Slots still pulled in the vast majority of casino income per se, however, with a $182.2 million win.
Year-to-date, Atlantic City casino revenue is up 1.5 percent, and a total of 3.2 percent when the state s Internet gaming is factored in.
Online Gambling StrongThe long summer month of July brought tourists and money to Atlantic City, but online, the economy was also sunny.
Internet gaming totaled $17,368,984 during July. That s a 38.6 percent increase from 2015 and a new monthly high for that segment.
Borgata maintained its lead on the five casino operators involved in iGaming, but the gap is closing. Borgata s online platforms grossed $3,971,138. The Golden Nugget, up 36 percent in July, pulled in $3,706,991.
The Internet gaming market in New Jersey seems to be moving towards equal disbursement. Once dominated by Borgata, last month the smallest stakeholder was Resorts with $3,052,298, a difference of less than $1 million. The Tropicana generated $3.24 million, while Caesars collected $3.39 million.
Resorts has quickly become a major player in New Jersey s online gaming sector. Thanks to the arrival of its poker network PokerStars, the casino climbed from $558,000 in revenue in July 2015 to $3 million last month.
The world s largest Internet poker operator hit the Garden State last March after a lengthy vetting process by the New Jersey Department of Gaming Enforcement (DGE). It s currently battling neck-and-neck with WSOP/888 for the title of New Jersey s online poker market leader.
