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ATlantic City August 2014 Numbers and Earnings

Monday September 15,2014 :  ONLINE GAMBLING HELPS ATLANTIC CITY SHOW A SMALL IMPROVEMENT
 
But on the land side it's another 1.2 percent decline in August.
 
August figures released by the New Jersey Division of Gaming Enforcement show that August was in general another downer for Atlantic City land casinos, with revenues dropping a further 1.2 percent y-o-y and another closure.
 
The 11 casinos still operating during August (there have been more closures since then) won $294.4 million from gamblers, down from $298 million a year ago.
 
With eight months of 2014 now gone, Atlantic City land casino total year-to-date revenue is now $1.85 billion - a decline of 6.3 percent on the same period last year; if the $83.7 million delivered by online gambling so far this year is added, the decline persists at 2.1 percent.
 
Adding online revenues of $10.5 million, the amount won rises to $305 million, delivering a more acceptable 2.3 percent increase overall when compared to the same period in 2013.
 
Internet gaming revenues grew $500,000 compared with the July 2014 numbers,
 
Among the land casinos, the performance leaders over the month were Borgata, which rose 5.2 percent to $65.8 million; the Tropicana, which was up more than 46 percent to $31.3 million, and the Golden Nugget - up 34 percent to $16.7 million.
 
To date this year three of the 12 Atlantic City land operators that started the year have now gone. Showboat and Atlantic Club shut down in January, followed by Revel early in September.
 
Looking ahead, Trump Plaza closes next week, and there is talk of Trump Taj Mahal closing its doors in November this year.
 
On the New Jersey internet gambling sites, the revenue split was $2.2 million for online poker and $8.3 million from online casino action.
 
Borgata again led the online sites, mostly with its casino operations whilst Caesars continued to pursue with revenues that were largely flat during the month.
 
Other operators saw marginal changes, other than Tropicana, which turned in a better performance at $2.26 (July 2014: $1.96 million), and Golden Nugget, where online revenues dipped steeply to $787,000.
 
Analysts note optimistically that as the northern hemisphere approaches the winter season, online gambling action usually picks up. In addition, technical improvements in geo-location and payment processing, along with increased awareness through advertising and promotions are likely to have a positive impact.
 
Waiting in the wings is Pokerstars, which can bring to bear its brand awareness and historical pulling power through appealing tournaments, marketing and promotions; anticipation is growing that the New Jersey regulator is about to allow the Isle of Man giant in , and that will certainly have an impact.

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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