Atlantic City casino revenue, minus closure, rises - FOX 10 News | myfoxphoenix.com

Atlantic City casino revenue, minus closure, rises

Posted: Updated:

By WAYNE PARRY

ATLANTIC CITY, N.J. (AP) — Like a ship struggling to right itself in a roiling sea, Atlantic City's casinos are trying mightily to find balance amid a rapidly contracting and constantly changing gambling market.

On Monday, they got some unexpected good news, even if it might not last long.

Not counting the Atlantic Club, which closed in January, the 11 casinos that operated in both 2014 and 2013 increased their revenue by nearly 4 percent in June. Most of that improvement was due to the $9.5 million in Internet gambling winnings that did not exist a year ago.

The numbers come as Atlantic City's casino market is experiencing a rapid contraction. Trump Plaza sent out closing notices to 1,153 workers Monday, the Showboat is closing Aug. 31, and Revel says it also will shut down if a buyer can't be found at a bankruptcy court auction next month. That could result in a quarter of Atlantic City's casinos shutting down in just nine months in the oversaturated northeastern gambling market.

With the Internet money and without the Atlantic Club, the casinos won $235.9 million in June, up from $227.1 million in June 2013, when Internet gambling was not yet legal in New Jersey. Although it still helped the bottom line, Internet gambling registered its third straight monthly decline.

When the Atlantic Club's revenue numbers are factored in, however, the casinos' revenue was down 5.7 percent for the month.

Trump Plaza posted the biggest decline in June, down nearly 32 percent from a year ago to $4.7 million. Showboat was down 16.6 percent to $14.1 million, and Revel was down 1.9 percent to $11.3 million.

The Golden Nugget posted the biggest monthly increase, up more than 34 percent to $14.3 million. The Tropicana was up nearly 23 percent to $25.8 million.

Among Internet gambling sites, the Borgata continued to lead the market with $3.4 million in online winnings. Caesars Interactive had $2.6 million, the Tropicana had $1.7 million, the Golden Nugget had $710,635 and the two Trump casinos each had about a half million in online revenue in June.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

  • New Jersey NewsNew Jersey NewsMore>>

  • Mosquito-borne virus sickens 20 in NJ

    West Nile found in New Jersey mosquitoes

    Tuesday, July 29 2014 1:09 PM EDT2014-07-29 17:09:31 GMT
    Twenty New Jersey residents have tested positive for a mosquito-borne virus that has spread through the Caribbean. The state Health Department says the residents who came down with chikungunya had returned to New Jersey from the Caribbean. Chikungunya causes a high fever and severe pain in the joints. It is rarely fatal.
    Twenty New Jersey residents have tested positive for a mosquito-borne virus that has spread through the Caribbean. The state Health Department says the residents who came down with chikungunya had returned to New Jersey from the Caribbean. Chikungunya causes a high fever and severe pain in the joints. It is rarely fatal.
  • Stuck NJ Transit train removed

    Stuck NJ Transit train removed

    Tuesday, July 29 2014 12:24 PM EDT2014-07-29 16:24:49 GMT
    A New Jersey Transit commuter train with about 1,000 passengers on board became disabled just outside the Hudson River tunnel in Manhattan on Tuesday morning. The train which was on the Northeast Corridor line broke down near 10th Ave., according to NJ Transit officials.  It is not clear what caused the mechanical problem. Lighting and air conditioning on the train were never impacted, according to NJ Transit.
    A New Jersey Transit commuter train with about 1,000 passengers on board became disabled just outside the Hudson River tunnel in Manhattan on Tuesday morning. The train which was on the Northeast Corridor line broke down near 10th Ave., according to NJ Transit officials.  It is not clear what caused the mechanical problem. Lighting and air conditioning on the train were never impacted, according to NJ Transit.
  • Montville board of education deemed power lines 'No cause for concern'

    Montville board of education deemed power lines 'No cause for concern'

    Tuesday, July 29 2014 11:21 AM EDT2014-07-29 15:21:10 GMT
    A string of ever-changing, ever-expanding power lines runs through the spine of Montville, connecting houses across the grid to PSEG electricity, and it’s got citizens concerned about runaway electricity that may or may not be dangerous to those with access to the monopoles.
    A string of ever-changing, ever-expanding power lines runs through the spine of Montville, connecting houses across the grid to PSEG electricity, and it’s got citizens concerned about runaway electricity that may or may not be dangerous to those with access to the monopoles.
Powered by WorldNow

KSAZ-TV & KUTP
511 W. Adams St.
Phoenix, AZ 85003

Phone: (602) 257-1234
Fax: (602) 262-0177

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices