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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.
Gambling News :
Live Dealer Now At Slotocash -
Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
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