Atlantic City’s 2017 Casualties Begin Poorly

5 May , 2017 News

Atlantic City’s 2017 Casualties Begin Poorly

The New Jersey gambling halls lose ground again and are partially saved only by online gambling.

Not good news comes from New Jersey , as far as casinos are concerned. In January, the 11 state gambling halls generated $ 195.7 million in turnover, up 4.6% compared to $ 205 million in the same month last year. 2013 was already considered a year to be forgotten for Atlantic City casinos .

And the worse that online casinos contributed with 9.5 million, otherwise the decline would have gone up to 9.2%.

Too optimistic forecasts

Initially New Jersey ruled Chris Christie predicted that online gambling would surpass $ 1 billion in business volume in the first year of life, of which 180 million would end in state crates.

But at 7.4 million in December, as mentioned, only 9.5 in January were added: reaching 1 billion is hard, even at a 28 percent growth rate on a monthly basis.

Seth PalanskyBorgata and Caesars Interactive continue to dominate the market with 73% of online casinos .Commenting on the first data in this new industry , Seth Palansky , spokesman for the group, said: “It has been a very positive month for us, and we have seen tremendous growth in online casinos and poker .”

And again, ” We started marketing at the beginning of January, and the promotions worked very well. We are confident that the New Jersey market will be great for our three brands,, and .”

Returning to the land casinos and their data, instead, high on Revel Casino Hotel , which marked the highest growth: $ 9.8 million, for a good 23%. The Golden Nugget follows, which by 10.5 million has grown by 10%. Borgata also breathed + 2.5% (48.3 million) and Resorts Casino Hotel , + 2.4% (8.3 million).

The other face of the medal is the collapse of Trump Plaza , which has lost even 26.7%, dropping to $ 3.5 million. Also Caesars Atlantic City has a heavy 23.4% deficit (17.8 million) and the Taj Mahal with 18.2% (15.4 million). Poor performances for the Showboat Casino (-17.3%), for Bally’s Atlantic City (-15.7%). They contain damage to Tropicana (-8.8%) and Harrah’s Resort Atlantic City (-3.9%).

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