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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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MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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