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Atlantic City Revenues decline 13 percent in September 2014

Thursday October 16,2014 :  SHUTTERED LAND CASINOS IMPACT SEPTEMBER STATS FOR ATLANTIC CITY
 
Revenues decline 13 percent in September 2014.
 
The closure of three more land casinos in Atlantic City - Revel, Trump Plaza and the Showboat - has inevitably impacted September revenues released by the New Jersey Division of Gambling Enforcement, which released the latest monthly statistics Wednesday.
 
Overall revenues were down 13 percent on the same period last year despite the inclusion of internet activity, which had not started a year ago. Operators won $209.4 million, down 12.8 percent from $240.2 million in September 2013, Associated Press reports.
 
Slot machines contributed $147.8 million - down 16.6 percent y-o-y, whilst table game retuirns were down 18.5 percent at $51.2 million.
 
On the bright side, casinos that operated in both Sept. 2013 and 2014 posted a 9.1 percent increase in revenue.
 
On the internet gambling front, revenues remained subdued, with operators taking in $10.25 million, down 2.8 percent or $300,000 less than August 2014.
 
Borgata and its online partner Party Poker remained the top internet operator in the Garden State, winning $3.4 million from internet activity, with Caesars Interactive chasing on $2.6 million. Tropicana managed to clear the $2 million benchmark, whilst Golden Nugget recorded $1.1 million.
 
Trump Plaza, now shuttered, posted $767,870 from its online action, whilst Trump Taj Mahal, which is also in danger of closure, achieved internet earnings of $228,717.
 
Online poker revenues were down 7.3 percent to $2.09 million in September compared to the previous month, whilst online casino action declined 1.5 percent to $8.16 million.
 
The DGE reports that by the end of September 2014 New Jersey could boast 456,502 internet gambling accounts - up 6 percent on the preceding month.
 
So far this year, Atlantic City's casinos have taken in a total of $2.04 billion. Operators hit their peak revenue of $5.2 billion in 2006; but by end 2013 the total had fallen to $2.86 billion.
 
About 8,000 Atlantic City casino workers have lost their jobs so far this year; another 3,000 would become unemployed if the Taj Mahal closes.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

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.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

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.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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