Atlantic City August 2016 Earnings

INTERNET GAMBLING REMAINS THE BRIGHT SPOT IN ATLANTIC CITYS AUGUST RESULTS
 
Online operations showed a 31.6 percent year-on-year improvement whilst land revenues declined 4.9 percent.
 
Online gambling continued to outperform land gambling in New Jersey during the month of August, delivering revenues up 31.6 percent year-on-year at $16.1 million vs. land casino win down 4.9 percent at $245.9 million.
 
Only two casinos – the Golden Nugget and Tropicana – posted monthly land gambing revenue gains in August. The biggest decline came at the Trump Taj Mahal, where unionised workers are on strike and the owner, Carl Icahn, has announced that the venue will close next month.
 
Matt Levinson, chairman of the New Jersey Casino Control Commission, noted that August in 2015 had two more weekend days than August this year.
 
"Everyone knows that weekends are the busiest time in Atlantic City, and August of 2015 had one more Saturday and one more Sunday than this year," he commented.
 
Online poker in August contributed less to overall online revenue, delivering just 13.5 percent of revenue vs. 16.2 percent in the same month back in 2015.
 
Online casino delivered more revenue in August 2016 than it did in August 2015 – 86.5 percent vs. 83.8 percent.
 
The Borgata-PartyPoker-Pala Interactive alliance led the online sector with 23.2 percent overall marketshare, followed by Golden Nugget/BetFair (21.6 percent), Caesar’s Interactive (19.4 percent), Resorts-Pokerstars (18 percent) and Tropicana (17.7 percent)
 
Stripping out the online poker performances, Pokerstars -Resorts continued to lead the sector with a marketshare of 39.8 percent, chased by Caesar’s WSOP – 888 on 32.2 percent and PartyPoker-Borgata on 28 percent.
 
Online poker revenue was up 9.6 percent compared with the same period last year.