A.C. Casinos See 5.1-Percent Decline in RevenueLast Edited:
Atlantic City's casino revenue declined by 5.1 percent last month when compared with a year ago.
Figures released on Wednesday, June 13th, by the State Division of Gaming Enforcement show the city's seven casinos won $217.6 million in May.
Internet gambling played a role in keeping the overall revenue decline from being worse, with an increase of more than 15 percent.
The Golden Nugget won more than twice as much as its nearest online competitor as it continues to pull away in New Jersey's internet gambling market.
Of the seven casinos, only Tropicana, Golden Nugget, and Resorts showed overall revenue increases for the month.
"Somebody was lucky in May, but it wasn’t the casinos," said Casino Control Commission Chairman James Plousis on the May casino revenue figures.
"Casino win was down last month largely because casinos were unusually lucky at the tables last year in May and players kept more of their money this May. Internet gaming revenue was up 15.3 percent, but that couldn’t offset a decline at the casinos, particularly at the gaming tables. The win at the slot machines was basically flat, but total revenue was down by 5.1 percent.
"I do anticipate that gaming revenue will increase this summer with the addition of new casinos, sports betting and a wealth of new attractions, amenities and entertainment. With that also comes more tax revenue, more jobs and increased economic activity for the entire region."
So far this year the casinos have won just over $1 billion, which is 4.3-percent less than this time last year.
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