ATLANTIC CITY, N.J. (AP) – With chaos reigning all around them, Atlantic City’s casinos seem to have found some measure of stabilization, even if it’s only for a while.
The state Legislature is tying itself in knots trying to take over the city’s finances, and voters will decide this fall whether to expand casino gambling to the northern part of the state, ending Atlantic City’s in-state monopoly.
Yet somehow, the survivors of the Great Casino Die-Off of 2014 are getting their houses in order less than two years after four of Atlantic City’s 12 casinos went out of business.
The eight casinos saw their revenue decline by less than 1 percent in March compared to a year ago. Figures released Wednesday by the state’s Division of Gaming Enforcement show the casinos took in $202.9 million in March. That’s a decline of 0.4 percent compared to March 2015.
Last week, the casinos reported their collective gross operating profits rose by more than 40 percent last year in a slimmed-down market with less competition.
Internet gambling continued its now-steady growth in New Jersey in March, increasing by nearly 18 percent from last March to $15.5 million.
Matt Levinson, chairman of the New Jersey Casino Control Commission, said the continued strength of internet gambling and a small increase in slot revenue (up 0.2 percent) helped offset most of a decline in revenue from table games.
“Gamblers did play more at the table games, but they won more, too,” he said.
Slot machine revenue was $132.8 million, and table games brought in $54.6 million.
Half the city’s eight casinos saw increases, led by Resorts, which was up 17.8 percent to $13 million. Bally’s was up 9.6 percent to $17.4 million. The Tropicana, which on Wednesday got approval from gambling regulators to run the Trump Taj Mahal (both of which are now owned by billionaire investor Carl Icahn) was up 6 percent to $25.6 million. The Golden Nugget was up 3.6 percent to $19.8 million.
The largest decline came at Harrah’s, which was down 11.8 percent to $28.5 million. Other declines included the Taj Mahal, down 10.3 percent to $13.2 million; Caesars, down 4.6 percent to $22.2 million, and the Borgata. As usual, the Borgata took in the most money at $57.9 million. But even that was down nearly 4 percent from last year.
The Borgata continued to lead New Jersey’s Internet gambling market with $4.2 million in online winnings, up 0.8 percent from a year ago. The Tropicana and Caesars Interactive-NJ, each with $3.16 million, and the Golden Nugget were closely competing for second place. Resorts Digital had $1.8 million in online winnings in March.
For the first three months of the year, the casinos have won a collective $597 million, which is 3.1 percent ahead of their pace over the same period last year.
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Copyright 2016 The Associated Press.
