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Atlantic City Revenue Still Dropping
Friday March 13,2015 : FEWER CASINOS, BUT REVENUES STILL DROP IN ATLANTIC CITY
February stats show a 14.8 percent decline y-o-y.
The latest official numbers from Atlantic City show that despite there being only eight land casinos left in the market, revenues continued to decline in February and were down overall by 14.8 percent compared to the same period last year.
Casino win in February was $178.4 million, prompting officials to attribute the drop to the inclement winter weather.
So far this year, the eight surviving casinos have won $375.9 million, down 7.2 percent from the same period last year. The casinos paid $14 million in state taxes in February.
Internet gambling operations run by the casinos turned in a marginally improved performance despite one lucky Betfair punter hitting a $1.5 million jackpot.
Online and mobile operations delivered $10.4 million in revenues, up 1 percent on the same period last year. It's worth noting that without that big jackpot the overall internet gaming result would have equalled the record in monthly revenues of $11.9 million, achieved last March.
Online casino action contributed the bulk of revenue with y-o-y growth of 16.1 percent to $8.35 million in February, but online poker again proved to be a disappointment, at $2.05 million slumping 34.2 percent y-o-y and down 11 percent on the preceding month.
Borgata-Pala again lead the field with $3.7 million of the February action, followed by Tropicana's casino-only operation on $2.62 million and Caesars-888 on $2.5 million, where both the casino and poker verticals failed to impress.
Fourth placed Golden Nugget-Betfair (also a casino only offering) recorded only $1.5 million as a result of that big Betfair jackpot, which marred an otherwise very promising February for the partnership.
New arrival Resorts-NYX-Sportech only launched in the last week of February but nevertheless managed to post a casino win of $51,000 in just a few days, perhaps an encouraging indicator of better things ahead.
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Amaya FY2016 Trading Update -
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LeoVegas To Sponsor Leicester Tigers -
The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.
Optima Information Services iShop -
Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.
CAGAYAN CHIEF MOVES TO REASSURE LICENSEES -
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New Massachusetts Online Gambling Bill -
It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.
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