Atlantic City Casino Industry Stops Free Fall In 2016Casino Revenue Inches Up 1.5 Percent Last Year |
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For the first time in 10 years, Atlantic City’s casino gambling market didn’t contract year-over-year.
According to figures from state gaming regulators, gaming win from the brick-and-mortar and online settings was $2.6 billion in 2016, a meager 1.5 percent increase compared to 2015. However, it did break a long losing streak for the casinos.
Internet gaming win, though only seven percent of total casino revenue, grew 32 percent year-over-year to $196.7 million and helped the industry end the decline.
A look at operators by total gaming win
Borgata: $769,787,284
Harrah’s: $358,068,502
Tropicana: $341,132,577
Caesars: $302,004,633
Golden Nugget: $251,933,998
Bally’s AC: $210,710,409
Resorts: $173,128,820
Trump Taj Mahal: $125,494,031
Caesars Interactive NJ: $38,699,334
Resorts Digital: $31,761,839
A look at Atlantic City gaming win since 2006
Gaming began in Atlantic City in 1978, and casino win increased year-over-year all the way until 2006, before the gambling market took a nosedive.
2016: $2.60 billion
2015: $2.56 billion
2014: $2.74 billion
2013: $2.87 billion
2012: $3.05 billion
2011: $3.32 billion
2010: $3.57 billion
2009: $3.94 billion
2008: $4.54 billion
2007: $4.92 billion
2006: $5.22 billion
Four Atlantic City casinos closed in 2014, and one (Trump Taj Mahal) closed last year.
What’s next for the industry?
A gaming win increase wasn’t the only bright spot for Atlantic City last year. In November, voters rejected a Chris Christie-backed plan to allow Las Vegas-style casinos in the northern part of the state. Such a move would have ended Atlantic City’s decades-long monopoly in the Garden State.
Though the referendum was unsuccessful, it will likely be brought back to the table in the near future, according to the plan’s backers.
With internet gaming growing rapidly, some lawmakers are searching for ways to extend the boom. Lawmakers are mulling over a new proposal that would allow two racetracks located outside of Atlantic City to offer online gambling. Under current law, online gambling operations must be based out of the seaside gambling town.
The state is also pondering an online poker liquidity sharing deal with the United Kingdom.
Revel, the $2.4 billion casino that never turned a profit in about two years in business, could reopen sometime this year. However, the owner of the property is suing the state over the licensing process and it’s unclear how that will be resolved.
There’s been rumor that the Trump Taj Mahal, which closed in October, could make a play to reopen this year. The casino shuttered thanks to a labor dispute, and some lawmakers want to block the casino from reopening without a union contract.
New Jersey is still fighting an expensive court battle to get sports books in Atlantic City. Under current federal law, only Nevada can have sports books.
In November, America’s first skill-based slot machine debuted in Atlantic City. The video game-like machine was designed to cater to the millennial demographic. There are more than 14,000 slot machines in Atlantic City, and over time more will involve a skill component.
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