Atlantic City Casino Gambling Revenue Falls 10 Percent In JanuaryCold Weather Across Region Takes Bite Out Of Winnings |
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New Jersey casino regulators said Wednesday that Atlantic City’s winnings in January were quite a bit off from the same month last year.
Based upon filings with the Garden State’s Division of Gaming Enforcement, the industry won $184.3 million from gamblers during the month, a decrease of 9.9 percent compared to the $204.7 million won in January 2017.
That figure includes both online and brick-and-mortar gambling. Win from the live casino setting was $162.4 million, a 12.6 percent decrease year-over-year. Online winnings were $21.9 million, up 16.7 percent.
January’s poor result followed a calendar year 2017 in which the casinos won $2.65 billion from gamblers, an increase of 2.2 percent compared to 2016.
Gaming revenue of $2.6 billion in 2016 was the first year-over-year increase for the seaside gambling town in a decade. The gambling market hit a peak of $5.2 billion in 2006.
The brick-and-mortars collected about $2.41 billion of the revenue (0.3 percent increase over 2016), while the internet casinos won $245.6 million (24.9 percent increase compared to 2016).
Despite a poor start to 2018, the Atlantic City casino industry is poised for a rebound this summer. The $2.4 billion casino formerly known as Revel is eying a summer reopening under new ownership, and the shuttered Trump Taj Mahal, to be called Hard Rock Hotel & Casino, is also planning a reboot mid-year.
The city currently has seven brick-and-mortars. It had 12 as recently as 2013.
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